Africa’s richest man, Aliko Dangote, has seen his net worth rise to $30.2 billion, according to the latest data from the Bloomberg Billionaires Index.
The report, cited by Naira Metrics, shows that Dangote’s fortune has grown by $2.25 billion (8%) year-to-date, driven by gains in his cement, oil, and fertilizer businesses.
Bloomberg’s data also indicates that his wealth increased by $89.2 million in the past 24 hours, making him 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,” Naira Metrics stated.
The $20 billion Dangote Oil Refinery remains his most valuable asset. Dangote owns a 92.3% stake in the facility, which can process up to 650,000 barrels of crude oil per day. Production has been ramping up gradually since its commissioning and has been key to the recent surge in his wealth.
His 86% ownership in Dangote Cement Plc is another major contributor to his fortune. The company dominates Nigeria’s cement market and operates across 10 African countries.
Strong earnings and rising infrastructure development have pushed up the company’s share value in 2025, further boosting Dangote’s 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),” Naira Metrics added.
Dangote also has investments in 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.
In a recent interview with S&P Global, Dangote revealed 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 said the company is exploring new financing options and partnerships with Middle Eastern investors to support the expansion.
Responding to claims of monopoly in Nigeria’s industrial sector, Dangote said profitability is crucial to sustain large-scale investments.
“If we don’t make money, nobody will come into this business,” he stated, calling for more local players with the capacity to compete at scale.
He also disclosed that Dangote Cement pays 52% of its earnings as taxes, noting that the government earns more from taxation than shareholders do in dividends, a reflection, he said, of the company’s significant contribution to Nigeria’s fiscal revenue.