• Aliko Dangote becomes first African worth over $30 billion
• Wealth boost driven by refinery launch, soaring stock values
• Plans to list refinery shares, expand production capacity
  

Nigerian billionaire Aliko Dangote has become the first African with a net worth above $30 billion, according to the latest Bloomberg Billionaires Index update on Sunday, October 26, 2025.

The index, which tracks daily changes in the wealth and rankings of the world’s 500 richest people, showed that Dangote’s fortune has risen by $2.43 billion since January 1, 2025, bringing his total net worth to $30.5 billion.

The Dangote Group chairman, now ranked 73rd globally, owes the rise in his wealth mainly to strong gains in the share prices of his companies listed on the Nigerian Exchange, according to the news platform Billionaires Africa. The value of Nascon Allied Industries (salt refining) has jumped 279% since the beginning of the year, while Dangote Sugar has nearly doubled. Dangote Cement, Africa’s largest cement producer with an annual capacity of nearly 55 million tonnes, has gained more than 38% in value since January 1.

Dangote, 68, saw his fortune surge by $15.1 billion in October 2024, to $27.8 billion, after his mega-oil refinery began production. At that time, Bloomberg first included the refinery — a project that took 11 years and cost $20 billion to build — in its valuation of the billionaire’s assets.

Beyond oil, salt, and sugar refining, the Dangote Group operates in agriculture, fertilizers, automotive, logistics, and real estate. Analysts expect Dangote’s wealth to reach new highs in the coming years. In an interview with S&P Global on Monday, October 20, 2025, he said he plans to list 5% to 10% of his refinery’s shares on the Nigerian Exchange within a year and gradually expand production capacity.

Walid Kéfi