Aliko Dangote, Africa’s Richest Man, Breaks into World’s Top 100

Aliko Dangote, president of Dangote Industries Limited, has surged into the world’s top 100 richest individuals, ranking 65th, according to the Bloomberg Billionaires Index. His net worth has skyrocketed to $27.8 billion, a significant $15.1 billion increase.

This remarkable growth follows the successful operationalization of his multibillion-dollar oil refinery, inaugurated in May 2023.

The 650,000 barrel-per-day plant, located in Lagos, began diesel production on January 12 and petrol production on September 3.

Despite initial crude supply challenges, Dangote’s refinery has overcome obstacles, importing crude from Brazil and the US to bridge supply gaps.

This achievement solidifies Dangote’s position as Africa’s richest person and the world’s richest Black man.

Dangote’s industrialization efforts and resilience have paved the way for his remarkable growth, making him a prominent figure in Africa’s business landscape.