Aliko Dangote is a Nigerian billionaire industrialist and the founder of the Dangote Group, one of Africa’s largest business conglomerates. Born on April 10, 1957, in Kano, Nigeria, he built his empire through investments in cement, sugar, flour, and oil refining. His company, Dangote Cement, dominates Africa’s cement industry, while the Dangote Refinery is set to revolutionize the continent’s energy sector. Known for his strategic vision and business acumen, Dangote has consistently ranked as Africa’s richest person for over a decade.
Dangote, as Africa’s wealthiest businessman, has experienced notable financial growth in 2025, largely due to the success of his industrial ventures, particularly the Dangote Petroleum Refinery.
Wealth Evaluation and Growth
As of early 2025, multiple financial sources have provided varying estimates of Dangote’s net worth. According to Forbes, his wealth stood at approximately $23.8 billion as of February 17, 2025, marking a significant rise from previous years. The expansion of his refinery business played a crucial role in this increase. Meanwhile, Bloomberg reported a higher estimate of $28.1 billion as of March 19, 2025. The discrepancy arises from differences in valuation methodologies and market timing.
Impact of the Dangote Refinery
The Dangote Petroleum Refinery, which commenced operations in early 2024, has transformed Nigeria’s oil industry. With a daily processing capacity of 650,000 barrels, it has significantly reduced the country’s dependence on imported fuels. This milestone has directly contributed to the surge in Dangote’s wealth, reinforcing his dominance in Africa’s business landscape.
Global and African Ranking
As of March 2025, Aliko Dangote remains Africa’s richest individual and ranks among the top 100 billionaires worldwide. His financial resurgence is remarkable, considering that his net worth was around $13 billion in early 2024.
Conclusion
Based on the latest evaluations:
- Forbes estimates his net worth at $23.9 billion (March 2025).
- Bloomberg places it higher at $28.1 billion (March 2025).
Regardless of the variation in figures, Aliko Dangote’s wealth continues to reflect his stronghold in Africa’s industrial sector.
