Amanze Chinonye
Africa’s richest man, Aliko Dangote, has reached a historic milestone, becoming the first African to attain a net worth of $30.5 billion, according to the latest update from the Bloomberg Billionaires Index.
As of October 25, 2025, Bloomberg ranks Dangote 73rd globally, with his fortune rising by $189 million (+0.6%) in the last 24 hours and by $2.43 billion (+8.7%) since the beginning of the year. The new valuation marks a defining moment for African entrepreneurship, underscoring Dangote’s dominance in industrial investments spanning cement, oil refining, fertiliser, and consumer goods.
Bloomberg identifies Dangote Oil Refinery as his single largest asset. The 650,000-barrel-per-day facility the biggest in Africa began operations in early 2024. Dangote holds a 92.3 percent stake in the refinery, which is valued at $20 billion, based on the project’s construction cost.
Join our WhatsApp ChannelThe refinery is widely expected to transform Nigeria’s petroleum supply chain and reduce its reliance on fuel imports.
In addition to oil refining, Dangote owns a fertiliser plant capable of producing up to 2.8 million tonnes of urea annually. Its valuation is based on a net-present-value analysis assuming a 50 percent utilisation rate.
Dangote’s publicly traded interests are concentrated in Dangote Cement Plc, where he owns an 86 percent stake, making it sub-Saharan Africa’s largest cement producer. He also holds shares in Dangote Sugar Refinery, Nascon Allied Industries, and United Bank for Africa.
These holdings, along with several privately held subsidiaries under Dangote Industries Limited, form the foundation of his empire which spans cement, sugar, salt, fertiliser, oil, food processing, packaging, and agriculture.
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Bloomberg reports that the valuation of his private and publicly listed assets, as well as his real-estate portfolio which includes six residential and commercial properties in Lagos was derived using a capitalisation method based on rental income verified by Dangote’s spokesman, Anthony Chiejina, and market rates from CBRE Broll Nigeria.
His cash holdings in naira and dollars were also factored in, based on financial disclosures made in 2024.
At 68, the Kano-born industrialist continues to extend his influence across African manufacturing. Analysts say his ascent to the $30 billion threshold reflects the increasing global value of Africa’s home-grown industries and a shift toward wealth creation through production rather than extraction.
Dangote’s rise also highlights the resilience of Nigeria’s industrial sector amid economic headwinds, including foreign-exchange volatility and inflationary pressures.
Having transformed a small trading firm into Africa’s largest conglomerate, Dangote’s achievement reinforces his legacy as the continent’s most successful industrialist and a symbol of African economic potential on the global stage.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
