Aliko Dangote’s Net Worth Surges to $30.2 Billion as Bloomberg Ranks Him 75th Richest Globally

Africa’s wealthiest man and President of the Dangote Group, Aliko Dangote, has seen his fortune soar to an estimated $30.2 billion, according to data obtained by PulseNets from the latest Bloomberg Billionaires Index update.

The latest Bloomberg ranking placed the Nigerian industrialist as the 75th richest person globally, underscoring his growing influence in both African and international markets.

Dangote, who maintains a majority stake in Dangote Cement Plc—the largest cement producer in sub-Saharan Africa listed on the Nigerian Exchange Limited (NGX)—continues to expand his industrial footprint beyond cement production.

A key driver of this remarkable surge in wealth is the Dangote Oil Refinery, Africa’s largest oil refining complex situated in Ibeju-Lekki, Lagos. The multi-billion-dollar refinery, commissioned on May 22, 2023, is estimated at a staggering $20 billion, making it the most valuable single asset in Dangote’s portfolio.

PulseNets learnt that Dangote holds an impressive 92.3% ownership stake in the refinery, while the Nigerian National Petroleum Company Limited (NNPCL) retains 7.3%.

A source familiar with the Bloomberg report told PulseNets that the refinery’s increasing production capacity and export potential have been instrumental in pushing Dangote’s net worth upward.

“The refinery is not just a symbol of industrial ambition; it’s a statement of Africa’s capacity to refine its own crude and dictate energy prices,” the source said.

Also Read: Petrol Price to Drop Soon as Aliko Dangote Refinery Resumes Loading

Analysts spoke to PulseNets, noting that the Ibeju-Lekki refinery remains a crucial catalyst for Nigeria’s economic self-sufficiency, with ripple effects across job creation, local content development, and foreign exchange savings.

As global demand for refined petroleum products grows, Dangote’s refinery is projected to further enhance his financial standing, positioning him as one of the world’s most influential industrialists.