Aliko Dangote, Africa’s wealthiest businessman, has recorded a significant rise in his fortune, now valued at $30.2 billion, according to the latest Bloomberg Billionaires Index report.
This represents a $2.25 billion gain so far this year, reflecting continued growth across his cement, oil, and fertilizer businesses. The index also shows that Dangote’s wealth rose by $89.2 million in the past 24 hours, placing him 75th among the world’s richest individuals.
Dangote’s vast fortune is anchored in his Lagos-based conglomerate, Dangote Industries Limited, which holds controlling stakes in several major industrial and consumer companies.
His key assets include Dangote Cement Plc, the largest cement producer in sub-Saharan Africa, and the $20 billion Dangote Oil Refinery, the continent’s biggest refinery, which began operations in early 2024 after more than a decade of development.
The refinery, where Dangote owns a 92.3% stake, has the capacity to process 650,000 barrels of crude oil per day, with production steadily ramping up since its commissioning.
Another major contributor to his wealth is his 86% stake in Dangote Cement Plc. Operating in 10 African countries, the company continues to benefit from rising infrastructure projects across the continent. Its shares have maintained an upward trend throughout 2025, boosting the value of Dangote’s holdings.
Beyond cement and oil, Dangote’s financial strength is also supported by his fertilizer plant, which produces 2.8 million tonnes of urea annually. He also holds significant investments in Dangote Sugar Refinery Plc, NASCON Allied Industries Plc, and United Bank for Africa (UBA).
In a recent interview with S&P Global, Dangote revealed plans to expand his oil refinery’s capacity to 1.4 million barrels per day a move that would make it the largest in the world, surpassing India’s Jamnagar Refinery. He noted that talks are ongoing with Middle Eastern investors to fund the project’s expansion.
Responding to debates around monopoly in Nigeria’s industrial sector, Dangote stressed that profitability is crucial to sustaining large-scale projects and urged more Nigerian entrepreneurs to invest boldly. He also pointed out that Dangote Cement contributes 52% of its profits in taxes, underscoring the group’s major role in supporting Nigeria’s economy.
