Africa’s richest man, Aliko Dangote, is on the verge of hitting the $30 billion milestone in personal wealth, driven largely by the full rollout of his multi-billion-dollar oil refinery and other industrial ventures. As of August 7, 2025, his estimated net worth stands at $29.3 billion, according to Bloomberg data sourced from corporate filings and independent analysis.
The $1.22 billion gain in his fortune since the beginning of the year reflects a 4.3% jump, largely tied to the performance of the Dangote Oil Refinery — now in full operation and shifting Nigeria closer to its goal of refining and exporting its own fuel.
Holding a dominant 92.3% stake in the $20 billion refinery, Dangote has placed himself at the center of Nigeria’s energy transformation. Experts suggest that if production and exports continue to grow, the refinery could surpass its current valuation and reshape the nation’s energy market permanently.
But his refinery isn’t the only source of momentum. Dangote Cement, the largest cement producer in sub-Saharan Africa, remains a key pillar of his empire. He owns an 86% stake in the publicly traded company. His industrial holdings also include Dangote Sugar, Nascon Allied Industries, and shares in United Bank for Africa, all under the umbrella of Dangote Group.
Further strengthening his portfolio is a fertilizer plant capable of producing 2.8 million tonnes of urea annually, currently valued based on a 50% utilization rate. This facility plays a strategic role in Nigeria’s push to improve agricultural self-sufficiency.
Dangote’s business interests extend beyond the factory floor. He owns several premium properties in Lagos — both residential and commercial — valued using market benchmarks and rental income estimates. He also maintains cash reserves in both naira and dollars, which contribute to a strong liquidity position.
His influence isn’t limited to wealth alone. Dangote recently made the 2025 TIME100 list of the world’s most influential philanthropists, highlighting his growing profile on the global stage.
