Prime Business Africa
Aliko Dangote, the richest man in Nigeria and Africa, recorded N2.28 trillion gain on the Nigerian Exchange (NGX), also known as the stock market, between January and December 2025, according to Prime Business Africa’s (PBA) analysis.
Dangote, who is also the richest black man on earth, holds 28.15 billion shares on the NGX through investment in Dangote Cement, Jaiz Bank, NASCON Allied Industries and Dangote Sugar.
Join our WhatsApp ChannelThe billionaire holds 14.64 billion shares in Dangote Cement through Dangote Industries Ltd (14.62 billion shares representing 87.28 percent stake) and direct shares of 27.64 million, representing 0.17 percent stake.
According to PBA’s breakdown, during trading last year, the businessman earned N1.90 billion through his shares in Dangote Cement, as the company’s share price increased by N130.2 kobo, from N478.80 kobo on January 2, 2025, to N609 on December 31, 2025.
This led to the business mogul’s investment rising by 27.19 percent within 12 months, from N7.01 trillion at the start of the year to N8.92 trillion at the end of last year.
Furthermore, Dangote made N4.33 billion in his investment in Jaiz Bank in 2025, as the value of his shares appreciated by 45.36 percent between January and December.
The appreciation was driven by a N1.42 kobo increase in Jaiz Bank’s share price, as equity investors traded the share at N4.55 kobo at the end of the fourth quarter (Q4) last year, compared to the N3.13 kobo it went for at the start of the first quarter (Q1) of 2025.
Consequently, the value of Dangote’s shares (3.05 billion), held by Dangote Industries Ltd, surged from N9.55 billion to N13.89 billion between Q1 and Q4 last year.
Prime Business Africa gathered that Dangote also earned N130.25 billion in his investment in NASCON Allied Industries, where he holds 1.68 billion shares, through Dangote Industries Limited, representing a 62.19 percent stake.
The shares were worth N50.42 billion on January 2, 2025; however, on December 31, 2025, the value appreciated to N180.67 billion, indicating a 258.33 percent growth.
Dangote had recorded the threefold gain following a N77.5 kobo increase in NASCON Allied’s share price, which soared from N30 to N107.50 kobo during the period under review.
In the same vein, the billionaire’s investment in Dangote Sugar appreciated by 84.61 percent within 12 months last year after the company’s share price increased by N27.5 kobo.
The value of the company’s share appreciated from N32.50 kobo to N60, leading to the businessman’s investment in Dangote Sugar rising from N285.20 billion to N526.53 billion between January and December.
Dangote holds 8.77 billion shares in the sugar company, through Dangote Industries Limited, which accounts for 8.12 billion shares and direct shares of 653.09 million.
Following the growth in his investments in Dangote Cement, Jaiz Bank, NASCON Allied, and Dangote Sugar, the oil mogul’s total investment on the NGX increased from N7.35 trillion on January 2, 2025, to N9.64 trillion on December 31, 2025.
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.
