Prime Business Africa
Aliko Dangote, the founder of Dangote Group, earned N5.44 trillion in the Nigerian stock market in the first half (H1) of 2026, according to Prime Business Africa’s (PBA) analysis.
Dangote recorded the gain through his investments, covering 28.13 billion shares, in Dangote Cement, Dangote Sugar, Jaiz Bank and Nascon Allied Industries.
Join our WhatsApp ChannelThe shares were valued at N15.06 trillion at the end of the second quarter (Q2) of this year, compared to the N9.62 trillion they were worth at the start of the first quarter ((Q1).
According to Prime Business Africa’s analysis, Dangote’s investment in Nascon Allied grew the highest, rising by 104.18 percent, followed by Jaiz Bank, where the value of his shares appreciated by 82.41 percent, while his investment in Dangote Cement and Dangote Sugar rose by 58.12 percent and 12.62 percent, respectively.
Note that the gain excludes income from dividends paid by the companies.
Dangote’s Best Performing Investments On NGX
Nascon Allied
Dangote, who holds 1.68 billion shares, through his investment vehicle, Dangote Industries Limited, in Nascon Allied, representing 62.19 percent controlling stake in the company, saw the value of his shares appreciate by 104.18 percent following a N112 increase in the firm’s share price.
Based on the company’s stock price performance, the share of Nascon, which equity traders were willing to pay N107.50 kobo for as of January 2, was valued at N219.50 kobo on June 30.
This led to the value of shares held by Dangote rising to N368.91 billion at the end of Q2, up from N180.67 billion at the start of this year, indicating the billionaire gained N188,24 billion from his investment in Nascon Allied.
Jaiz Bank
The businessman earned N11.45 billion from his investment in Jaiz Bank between the first quarter and the second quarter of this year, after the value of his shares increased by 82.41 percent.
Dangote, who holds 3.05 billion shares through his investment vehicle, Dangote Industries Ltd, representing a 6.85 percent stake, in the financial institution, recorded the gain following a N3.75 kobo jump in the share price of Jaiz Bank.
With the share price of the company rising from N4.55 kobo per share on January 2 to N8.30 kobo on June 30, Dangote’s investment in Jaiz Bank surged to N25,34 billion, from N13,89 billion during the same period.
Dangote Cement
Dangote Cement’s share price increased to N963 per share at the end of the second quarter, exceeding the N609 a share was traded at the start of the first quarter.
The N354 increase in the company’s share price led to the value of the 14.62 billion shares held by the oil mogul through Dangote Industries Ltd in the cement company to appreciate by 58.12 percent during the period under review.
Dangote, who holds 87.28 percent controlling stake in Dangote Cement, saw his investment in the company increase from N8.90 trillion at the start of the first half to N14.08 trillion at the end of June.
Dangote Sugar
With the share price of Dangote Sugar rising by N7.60 kobo between January and June, the buisnessman’s investment in the company appreciated by 12.62 percent, according to Prime Business Africa’s analysis.
Dangote holds direct shares of 653.09 million, representing 5.38 percent stake, and indirect shares of 8.12 billion through Dangote Industries Limited, in the sugar manufacturer as at the end of H1.
The shares, were valued at N528,28 billion at the start of this year, however, by the end of the first half, their worth had increased to N594,98 billion, representing a N66,69 billion gain within six months.
This was due to a surge in equity traders’ interest in Dangote Sugar, as the share price of the producer increased from N60.20 kobo to N67.80 kobo per share in the first six months of this year.
Meanwhile, in 2025, Dangote made N2.28 trillion from Nigerian stock market.
This indicates the billionaire gained more than twice of what he earned last year in H1 2026.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
