Africa’s wealthiest man, Aliko Dangote, has seen his net worth soar to $30.2 billion, according to the latest data from the Bloomberg Billionaires Index.
The billionaire industrialist’s fortune has grown by $2.25 billion year-to-date, an 8% increase, fueled by gains across his sprawling business empire.
Bloomberg’s data also reveals that Dangote’s wealth rose by $89.2 million in the past 24 hours, securing his position as the 75th richest person globally. The jump underscores the steady appreciation of his assets across cement, oil, and fertilizer operations, even amid a volatile global commodities market.
Dangote’s fortune is anchored in Dangote Industries Limited, his Lagos-based conglomerate with interests spanning cement, oil refining, fertilizer, and consumer goods.
The group controls major stakes in several listed and private entities that dominate Africa’s industrial landscape.
His flagship company, Dangote Cement Plc, remains sub-Saharan Africa’s largest cement producer, operating in 10 African countries. The firm continues to benefit from rising infrastructure projects across the continent, with shares steadily appreciating in 2025 and lifting Dangote’s equity value.
The Dangote Oil Refinery, valued at $20 billion, is now the billionaire’s single most valuable asset. Dangote holds a 92.3% stake in the massive facility, which began operations in early 2024 after more than a decade of development.
Designed to process 650,000 barrels of crude oil daily, the refinery has been gradually scaling production, boosting both Nigeria’s refining capacity and Dangote’s wealth.
The facility’s strategic role in reducing the country’s dependence on fuel imports has attracted significant market attention and investor optimism.
Beyond oil and cement, Dangote’s fertilizer plant, with an annual capacity of 2.8 million tonnes of urea, adds a strong agribusiness dimension to his portfolio.
The plant’s valuation, based on a net present value analysis assuming 50% utilization, further reinforces his diversified revenue streams.
He also holds shares in Dangote Sugar Refinery Plc, NASCON Allied Industries Plc, and United Bank for Africa (UBA), rounding out a multi-sector footprint that spans food processing, finance, and packaging.
Additionally, his Lagos real estate portfolio, including six high-value properties, is appraised using CBRE Broll Nigeria’s rental capitalization data.
In a recent interview with S&P Global, Dangote announced plans to double the capacity of his Lagos refinery to 1.4 million barrels per day, which would make it the largest refining facility in the world, surpassing India’s Jamnagar Refinery.
He revealed that his company is exploring new financing options and partnerships with Middle Eastern investors to support the ambitious expansion.
“If we don’t make money, nobody will come into this business,” Dangote said, responding to criticisms of monopoly in Nigeria’s industrial sector.
Dangote highlighted that Dangote Cement pays 52% of its earnings as taxes, asserting that “the government earns more from taxation than shareholders do in dividends.”
The statement underscores his companies’ significant contribution to Nigeria’s fiscal revenues, positioning his businesses as key pillars of the national economy.
As global investors continue to watch Africa’s industrial transformation, Dangote’s empire remains a barometer of the continent’s potential to build globally competitive industrial champions
