Aliko Dangote’s net worth has risen to a historic $36.7 billion, according to real-time Bloomberg data.
This underscores his status as both the wealthiest black individual and the richest African.
His empire has long been anchored by Dangote Cement, Sugar, and Fertilizer.
The $20 billion mega refinery in Lagos, along with significant investments in Dangote Cement, are key drivers behind his record-high net worth.
These developments have also helped Nigeria become a net petroleum exporter for the first time in decades, with daily net exports of around 44,000 barrels to regional markets.
The refinery has rapidly gained dominance across West Africa, supplying large quantities of refined products to Cote d’Ivoire, Cameroon, Tanzania, Ghana, and Togo. This shift moves the business from primarily local currency inflows to mainly hard currency.
The group is progressing towards listing its mega-refinery on the stock market, through an Initial Public Offering (IPO), towards the end of the year, which is likely to reveal several tens of billions in public market value.
