He occupies the 66th spot.
Just after him, is the Vice President of the United States of America, Mike Pence who got the 67th spot on the 75 names long list.
Four factors were taken into consideration for the selection of each of the World’s Most Powerful People.
The panel looked at; how many people over whom they have power, the financial resources they control, the number of spheres their influences covers, and how actively they wield their power to change the world.
Thee chairman of Dangote Group, who made his fortune in the cement industry, is now turning his attention to dairy and sugar farming.
It has been reported that he has spent $800 million buying 50,000 cattle in the hope of producing 500 million litres of milk annually by 2019.
He is also racing to finish a 650,000-barrel-per-day oil refinery in the outskirts of Lagos, set to be one of the world’s biggest.
It has also been announced that he intends to spend as much as $50 billion in the next decade on renewable energy and petrochemical refineries, including investments in the U.S. and Europe.
Equipment shipped from overseas to the proposed refinery in the outskirts of Lagos has made it to the location.