Nigerian business tycoon Aliko Dangote has moved down 25 places on the Forbes list of billionaires for March 2012 claiming the 76th position from 51st he occupied last year.
The downward movement was as a result of a $2.6 billion loss in his fortune from $13.8 billion in 2011 to $11.2 billion in 2012.
He is however still the richest man in Nigeria as the chairperson of Dangote Group which spans food processing, cement manufacturing, and freight.
Mr. Dangote is not the only Nigerian who stayed on the Forbes list.
The fortunes of telecoms billionaire, Mike Adenuga moved from $2 billion in 2011 to $4.3 billion as at March 2012, making him the second richest man in Nigeria.
Mr. Adenuga who was Forbes 597th richest man in 2011 moved up to 595 as at March this year.
Meanwhile Mexican business mogul, Carlos Slim once again topped the annual list of the world’s richest billionaires.
The magazine estimates that Mr. Slim, whose business interests range from telecommunications to construction, is worth $69 billion.
He is followed by Microsoft founder, Bill Gates on $61 billion dollars and US investor Warren Buffett on $44 billion.