Renowned African business leader Aliko Dangote has been ranked as the 86th wealthiest person globally by Forbes, with an estimated net worth of $23.9 billion.
His fortune has dramatically increased over the past year, marking an 85% increase from $12.9 billion in February 2023.
This significant growth is largely attributed to his 92.3% stake in Dangote Petroleum Refinery & Petrochemicals, a facility that is transforming Nigeria’s energy sector.
The Dangote Refinery, which has the capacity to process 650,000 barrels of crude oil daily, commenced production of diesel, naphtha, and jet fuel in January 2024, with petrol refining beginning nine months later. By the end of 2023, the refinery had processed approximately 24 million barrels of Nigerian crude oil and is set to receive an additional 12 million barrels from the United States. With these developments, the facility is on track to reach full operational capacity within a month.
While Dangote has solidified his status as Africa’s richest individual, he also continues to rise in global wealth rankings. According to Forbes, the world’s top three richest individuals as of 2025 are Elon Musk (Tesla, SpaceX) – $393.2 billion, Mark Zuckerberg (Meta) – $247.2 billion and Jeff Bezos (Amazon) – $240.1 billion.
As Dangote’s refinery continues expanding, his wealth could see further increases, strengthening his influence in both African and global markets.
