Africa’s richest man, Aliko Dangote, has seen his net worth climb to $30.2 billion, according to the latest data tracked by the Bloomberg Billionaires Index.
The figure reflects an increase of $2.25 billion year-to-date (8%), supported by gains in his cement, oil, and fertilizer businesses. The Bloomberg data also shows that Dangote’s wealth rose by $89.2 million in the past 24 hours, cementing his position 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.
A breakdown of Dangote’s business assets
- The Dangote Oil Refinery, valued at $20 billion, remains his most valuable asset. Dangote owns a 92.3% stake in the refinery, which has been key to the recent rise in his net worth.
- The facility is designed to process up to 650,000 barrels of crude oil daily, with production ramping up gradually since its commissioning.
- His 86% ownership in Dangote Cement Plc is another cornerstone of his fortune. The company, which dominates Nigeria’s cement market and operates plants across 10 African countries, continues to deliver strong earnings amid increased infrastructure development. Shares of Dangote Cement have appreciated steadily in 2025, boosting the market value of his holdings.
Beyond cement and oil, Dangote’s wealth is supported by his fertilizer plant with an annual capacity of 2.8 million tonnes of urea, valued using a net present value analysis assuming 50% utilization. He also holds significant stakes in Dangote Sugar Refinery Plc, NASCON Allied Industries Plc, and United Bank for Africa (UBA).
His other interests span agriculture, packaging, and food manufacturing, while his Lagos real estate portfolio, including six residential and commercial properties, is valued using rental capitalization data from CBRE Broll Nigeria.
What you should know
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 world’s largest refining facility, surpassing India’s Jamnagar Refinery. He revealed that the company is exploring new financing opportunities and partnerships with Middle Eastern investors to support the expansion.
Addressing claims of monopoly in Nigeria’s industrial sector, Dangote stated that profitability is essential to sustain large-scale investments, noting that “if we don’t make money, nobody will come into this business.” He emphasized the need for more local players with the capacity to compete at scale.
Dangote also disclosed that Dangote Cement pays 52% of its earnings as taxes, with the government earning more from taxation than shareholders do in dividends, underscoring the group’s significant contribution to Nigeria’s fiscal revenue.
