According to the Bloomberg Billionaire Index, Aliko Dangote, Africa’s richest man, has returned to the exclusive $30 billion club.
Dangote’s current net worth is $30 billion, up by $261 million and $1.9 billion higher than last year. This recovery follows a drop to $29.1 billion in November after major project investments.
The recovery is linked to his $20 billion oil refinery announcing a major fuel supply program. According to the refinery’s official statement to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), 1.5 billion liters of Premium Motor Spirit (PMS) will be delivered to Nigeria in December 2025 and January 2026. Starting in February 2026, the monthly supply will increase to 1.7 billion liters.
In November, despite some setbacks, Dangote reached important milestones. The Dangote Petroleum Refinery set a record by producing 70 million liters of petrol and diesel daily (45 million liters of petrol and 25 million liters of diesel), which is more than Nigeria’s domestic fuel consumption.
In November, Dangote Fertiliser Limited announced plans to build four more urea granulation units with a German Thyssenkrupp subsidiary, which could triple its production capacity. Dangote Sugar Refinery, having already invested over $700 million in growth programs, aims to reduce Nigeria’s reliance on imported raw sugar.
In October, Dangote became the first African to join the $30 billion club. Analysts say his wealth has grown thanks to investor confidence in his refinery’s expansion plans, which aim to increase production from 650,000 to 1.4 million barrels per day.
