Africa’s richest man, Aliko Dangote, has seen his net worth climb to $30.2 billion, according to the latest data from the Bloomberg Billionaires Index.
The updated ranking places Dangote as the 75th richest person in the world, reaffirming his position as Nigeria’s most prominent industrialist.
Dangote’s fortune is largely tied to his majority stake in Dangote Cement Plc, the largest cement producer in sub-Saharan Africa, listed on the Nigerian Exchange Limited.
He also owns Dangote Refinery, Africa’s biggest oil refining complex, commissioned on May 22, 2023, and valued at about $20 billion.
The Ibeju-Lekki-based refinery, in which Dangote holds a 92.3% stake, with the Nigerian National Petroleum Company Limited (NNPCL) owning 7.3%, is believed to be the major driver of his recent wealth surge.
The refinery, expected to process 650,000 barrels of crude oil per day when fully operational, is seen as a transformative project for Nigeria’s energy sector and a key contributor to Dangote’s growing global financial standing.