The net worth of Aliko Dangote, Africa’s richest man and President of the Dangote Group, has risen to $30.2 billion, according to the latest report by the Bloomberg Billionaires Index.
The Bloomberg data, released on Friday, placed Dangote as the 75th richest individual in the world, reflecting an upward trajectory in his financial standing.
Dangote’s wealth is primarily attributed to his controlling stake in Dangote Cement Plc, the largest cement producer in sub-Saharan Africa, which is listed on the Nigerian Exchange Limited.
The report also highlighted that Dangote’s vast investments in the oil and gas sector have significantly contributed to the recent increase in his net worth.
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His flagship enterprise, the Dangote Oil Refinery, valued at $20 billion, remains his most valuable asset.
The refinery, located in Ibeju-Lekki, Lagos State, was officially commissioned on 22 May 2023.
According to Bloomberg, Dangote owns a 92.3 per cent stake in the refinery, while the Nigerian National Petroleum Company Limited, NNPCL, holds a 7.3 per cent share.
The refinery, Africa’s largest oil refining complex, is expected to play a central role in transforming Nigeria’s energy sector and reducing dependence on imported petroleum products.
Speaking on the development, a source within the Dangote Group said, “The rise in Mr Dangote’s net worth mirrors the success of the refinery operations and the consistent performance of Dangote Cement in the market.”
Industry analysts also note that the steady appreciation of Dangote Cement’s share price and the growing capacity of the refinery to meet local demand have strengthened the billionaire’s global ranking.
Bloomberg further stated that Dangote’s business empire spans multiple sectors, including sugar, fertiliser, and infrastructure, making him one of the most diversified industrialists in Africa.
As of October 2025, Dangote remains the only African within the top 100 of the Bloomberg Billionaires Index, a position that underscores his influence in the global business landscape.
The billionaire, known for his vast contributions to industrial development across Africa, continues to expand his business footprint while maintaining a dominant position in Nigeria’s economic growth.
