Aliko Dangote, Africa’s wealthiest individual, has been ranked as the 86th richest person globally, with Forbes estimating his fortune at $23.9 billion as of Monday.
Dangote’s net worth has surged by 85.27 percent in the past year, rising from $12.9 billion on February 18, 2023—an increase of $11 billion.
Forbes attributes this financial growth primarily to his 92.3 percent ownership in Dangote Petroleum Refinery & Petrochemicals.
The massive 650,000 barrels per day (bpd) refinery commenced operations in January 2024, producing key petroleum products such as diesel, naphtha, and jet fuel.
By September 2024, the facility had expanded its operations to include petrol production.
To enhance output, the refinery secured 24 million barrels of Nigerian crude oil in October and November 2024.
Additionally, reports from January 28, 2025, indicate that the facility is set to receive up to 12 million barrels of crude oil from the United States.
On February 10, 2025, the refinery announced that it could reach full operational capacity within 30 days.
Meanwhile, Forbes’ latest global billionaire ranking still places Tesla CEO Elon Musk at the top with a net worth of $393.2 billion.
Mark Zuckerberg, co-founder of Meta, holds the second position with $247.2 billion, while Amazon’s founder, Jeff Bezos, ranks third with a fortune of $240.1 billion.
