Nigeria, Oct. 13 -- Last week, as his listed businesses fueled gains on the Nigerian Exchange (NGX), Africa's richest man, Aliko Dangote, added nearly half a billion dollars to his net worth.

Driven mostly by a 9.5 percent increase in Dangote Cement stock, Bloomberg's Billionaire Index estimates Dangote's wealth rose from $29.1 billion to $29.6 billion.



The News Chronicle gathered that the recent riches increase of Dangote shows rising investor confidence in Nigeria's industrial growth. Despite fresh hopes about infrastructure development and steady FX rates, cement, salt, and sugar stocks have kept steady.



Dangote Cement's performance by itself raised his net worth by around $497 million, thereby balancing modest reductions in D...