***Bloomberg Index credits refinery, cement dominance for new leap
Africa’s wealthiest man, Aliko Dangote, has seen his fortune soar to $30.2 billion, cementing his place as the 75th richest person in the world, according to the latest Bloomberg Billionaires Index.
The new ranking reflects fresh gains from Dangote Cement Plc, sub-Saharan Africa’s largest cement producer, and the Dangote Oil Refinery, his multi-billion-dollar energy project in Ibeju-Lekki, Lagos.
Commissioned on May 22, 2023, the $20 billion refinery — in which Dangote holds a 92.3 percent stake — has become a key driver of his expanding net worth. The Nigerian National Petroleum Company Limited (NNPCL) owns the remaining 7.3 percent.
Industry analysts say the refinery’s progress and its growing impact on Nigeria’s downstream oil sector have significantly boosted investor confidence in the Dangote Group’s portfolio.
Dangote, who maintains controlling interests across cement, sugar, and salt manufacturing, continues to be a dominant figure in Africa’s industrial and investment landscape.
