Nigerian billionaire Aliko Dangote has seen his net worth soar to $23.9 billion, nearly doubling from $13.4 billion in just one year, according to Forbes.
The surge cements his position as Africa’s richest man and places him 86th on the global billionaires’ list, up from 144th last year.
The leap is largely attributed to his 92.3% stake in the $23 billion Dangote Petroleum Refinery & Petrochemicals, which recently began operations.
At 67, Dangote re-enters the top 100 list for the first time since 2018. His closest rival, South Africa’s Johann Rupert, sits at 161st with $14.4 billion, while fellow Nigerian tycoon Mike Adenuga is ranked 481st at $6.8 billion.
Spanning 6,200 acres in Lagos’ Lekki Free Zone, Dangote’s refinery is Africa’s largest and one of the biggest globally, with the capacity to process 650,000 barrels of crude daily.
The facility also houses a petrochemical plant that produces 3 million metric tons of urea annually, making it Africa’s leading fertilizer producer.
Dangote described the refinery as his boldest gamble yet. “It was the biggest risk of my life. If this didn’t work, I was dead,” he told Forbes, emphasizing his vision to drive Africa’s industrial growth without overreliance on foreign investment.
