Africa’s wealthiest businessman, Aliko Dangote, has seen his fortune surge to $30.2 billion, according to the latest data from the Bloomberg Billionaires Index.
The figure marks an $2.25 billion (8%) increase year-to-date, driven by robust performances across his cement, oil, and fertilizer businesses.
Bloomberg’s tracker also shows that Dangote’s wealth jumped by $89.2 million in the past 24 hours, securing his position as the 75th richest person globally.
Dangote’s wealth is largely anchored in his Lagos-based conglomerate, Dangote Industries Limited, which controls strategic interests in several listed and private companies across Africa’s industrial and consumer sectors.
At the heart of his empire is Dangote Cement Plc, sub-Saharan Africa’s largest cement producer, and the Dangote Oil Refinery, the continent’s biggest refining complex, which began operations in early 2024 after more than a decade of construction.
Valued at $20 billion, the refinery remains Dangote’s most prized asset.
He owns a 92.3% stake in the facility, which has been steadily ramping up production capacity toward its full output of 650,000 barrels per day.
His 86% holding in Dangote Cement Plc also continues to underpin his wealth.
The company, which dominates Nigeria’s cement market and operates in 10 African countries, has seen its share price climb steadily in 2025 amid ongoing infrastructure expansion.
Dangote’s portfolio further includes a fertilizer plant with an annual capacity of 2.8 million tonnes of urea, as well as major stakes in Dangote Sugar Refinery Plc, NASCON Allied Industries Plc, and United Bank for Africa (UBA).
Beyond manufacturing, his interests extend into agriculture, packaging, and real estate, with a Lagos property portfolio valued using market data from CBRE Broll Nigeria.
In an interview with S&P Global, Dangote disclosed plans to double the Lagos refinery’s capacity to 1.4 million barrels per day, which would make it the largest refining facility in the world, surpassing India’s Jamnagar Refinery.
He said the company is already exploring financing and partnership options with Middle Eastern investors to fund the expansion.
Responding to criticisms of monopoly, Dangote maintained that profitability is vital for sustainable industrial investment, noting:
“If we don’t make money, nobody will come into this business.”
He also revealed that Dangote Cement contributes 52% of its earnings as taxes, emphasizing that the Nigerian government earns more from the company in tax revenue than shareholders receive in dividends — a testament to its vital role in Nigeria’s economy.
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