Prime Business AfricaAfrica’s richest man, Aliko Dangote, has suffered a significant loss of N310 billion in the Nigerian stock market in 2024, primarily due to declining share prices of Dangote Sugar and Nascon Allied.
Despite this setback, Dangote’s cement business continues to thrive, with a remarkable gain of N4.35 trillion in 2024. The billionaire’s investment portfolio reveals a complex picture of losses and gains in the Nigerian stock market.
Join our WhatsApp ChannelThe Nigerian billionaire owns three companies listed in the bourse: Dangote Cement, Dangote Sugar, and Nascon Allied.
He holds 653.09 million direct shares and 8.12 billion indirect shares – through Dangote Industries Limited – in Dangote Sugar.
In NASCON Allied, the billionaire holds 1.68 billion shares through Dangote Industries Limited, which also holds 14.62 billion shares in the cement company, where the investor accounts for 27.64 million direct shares.
An analysis of Dangote’s indirect investment in the sugar business showed that the businessman held N511.30 billion worth of investment in Dangote Sugar by the start of last year; however, at the end of 2024, the value of the investment declined by N243.67 billion to N267.53 billion.
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Also, the businessman’s direct investment in Dangote Sugar dropped by N19.59 billion, from N41.11 billion to N21.51 billion within the same period.
This was driven by the 91.04 per cent decline in the company’s share price after low demand for Dangote Sugar’s shares in the Nigerian stock market pushed the share price from N62.95 to N32.95 within 12 months.
Also, his investment in NASCON Allied dropped in value to N51.66 billion by 30 December 2024, compared to the N98.40 billion it was worth at the start of January.
This represents a loss of N46.74 billion on the back of a 47.49 per cent decline in the company’s stock price, which dropped from N58.55 per share to N30.74 – indicating low investor confidence.
However, Dangote closed last year with a gain of N4.35 trillion in his cement business, after the value of the investment held in the company increased from N8.87 trillion to N13.23 trillion.
Similarly, his indirect investment in Dangote Cement also increased from N4.69 trillion to N7 trillion – indicating the billionaire gained N2.30 trillion in one year.
Dangote’s investment value jumped following a high demand for the cement business’ shares among equity investors, which dragged the stock price up by 49.07 percent, from N321.17 kobo to N478.80 kobo.
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