Aliko Dangote’s net worth rises to $30.2 billion
Aliko Dangote
Africa’s richest man and President of Dangote Group, Alhaji Aliko Dangote, has seen his net worth rise to $30.2 billion, according to the latest update from the Bloomberg Billionaires Index.
The report shows that Dangote’s fortune grew by $2.25 billion, representing an eight percent increase year-to-date, driven by strong performance across his cement, oil, and fertilizer businesses.
With the new valuation, Dangote now ranks as the 75th richest person in the world. His wealth is primarily tied to his Lagos-based conglomerate, Dangote Industries Limited, which holds substantial stakes in both listed and privately held companies across industrial and consumer sectors.
Dangote Cement Plc — the largest cement producer in sub-Saharan Africa — and the Dangote Oil Refinery, Africa’s biggest oil refining complex, are the cornerstone of his empire. The $20 billion refinery, which began operations in early 2024 after over a decade of development, remains his most valuable asset, with Dangote holding a 92.3 percent stake.
Further boosting his portfolio, the Dangote Group recently embarked on a $2.5 billion joint venture urea fertilizer plant in Gode, Ethiopia, in partnership with the Ethiopian Investment Holdings (EIH) — the strategic investment arm of the Ethiopian government. The facility will produce three million metric tonnes per annum (mtpa) of urea fertilizer.
Speaking at the groundbreaking ceremony, Dangote described the project as a milestone in Africa’s industrial growth.
“This new plant is a partnership between the Dangote Group and Ethiopian Investment Holdings (EIH). It will make Ethiopia the biggest agricultural nation on the African continent,” he said.
The new Ethiopian venture marks a significant step in Dangote Group’s pan-African expansion and underscores Dangote’s continued dominance in the continent’s industrial and energy sectors.
