Hot SourceSunday Ehigiator
The net worth of Africa’s richest man and President of the Dangote Group, Alhaji Aliko Dangote now stands at $30.2 billion, the Bloomberg Billionaires Index revealed.
This, according to the report, represented an increase by $2.25 billion or eight percent year-to-date, which was supported by gains in his cement, oil, and fertilizer businesses.
The Bloomberg data placed Dangote as the 75th richest person in the world.
Dangote’s fortune is tied primarily to his Lagos-based conglomerate, Dangote Industries Limited, which holds stakes in multiple listed and private companies across the industrial and consumer sectors.
The group owns Dangote Cement Plc, the largest cement producer in sub-Saharan Africa, and the Dangote Oil Refinery, Africa’s biggest oil refining complex, which began operations in early 2024 after more than a decade of development.
The Dangote Oil Refinery, valued at $20 billion, remains his most valuable asset. Dangote owns a 92.3 per cent stake in the refinery, which has been key to the recent rise in his net worth.
In a record-breaking joint venture partnership between an indigenous African private investor and a government, the Dangote Group recently took its investment on the continent to a greater level with the commencement of a $2.5 billion joint urea fertiliser plant in Gode, Ethiopia, with a capacity to produce three million metric tons of the product per annum (mtpa).
Dangote had said the project, which is a partnership between the Dangote Group and the Ethiopian Investment Holdings (EIH), the strategic investment arm of the Government of Ethiopia, would make the country the biggest agricultural nation on the African continent.
“I am delighted to welcome you all to this historic groundbreaking ceremony of the $2.5 Billion, 3 Million Metric Tonne Urea Fertiliser Production Complex here, in Gode, Ethiopia. This new plant is a partnership between the Dangote Group and Ethiopian Investment Holdings (EIH), the strategic investment arm of the Government of Ethiopia,” he had added.
