Aliko Dangote, Africa’s wealthiest individual, has seen his fortune grow by an impressive $213 million in 2025, further cementing his dominance in the continent’s wealth rankings. 

This growth, primarily fueled by his substantial holdings in Dangote Cement and his ambitious refinery project, showcases the impact of his strategic investments.

Dangote’s wealth surged to $28.3 billion this year, up from $28.1 billion at the start of 2025. A major contributor to this increase is his 86% stake in Dangote Cement, Africa’s largest cement producer. 

This stake alone has gained nearly $200 million in value, driven by a series of positive developments. One key factor is the Nigerian naira’s recent appreciation against the U.S. dollar, which helped boost Dangote Cement’s market performance. The company’s share price has also jumped by 250 basis points, propelling its market capitalization to more than $5.3 billion.

Beyond cement, Dangote’s $19 billion refinery, the largest in Africa, has also been a major driver of his wealth this year. Since its launch, the refinery has steadily increased its output, with production hitting 500,000 barrels per day (b/d) by January 2025. In the coming month, the refinery is expected to reach its full capacity of 650,000 b/d, making it the seventh-largest refinery globally.

The refinery’s impact on Nigeria has been profound. It has drastically reduced the country’s reliance on imported gasoline, with Nigeria now achieving an eight-year low in fuel imports. The country has even started exporting jet fuel, naphtha, and fuel oil, reversing its long-standing dependence on imported fuel. 

As a result, Dangote’s refinery has played a pivotal role in reshaping the Nigerian energy landscape, helping to stabilize the country’s energy sector and reduce the burden of fuel subsidies.

Dangote’s hands-on approach has been key to the success of his refinery. He regularly visits the site, working closely with the team to ensure smooth operations. Looking ahead, he plans to expand the refinery’s infrastructure, including building a subsea pipeline to transport natural gas from the Niger Delta to Lagos.

He also has plans to increase fertilizer production and potentially take the refinery public within the next two years.

Dangote’s refinery is not just making waves in Nigeria; it’s also impacting global fuel markets. The refinery is now exporting diesel and aviation fuel to countries like Cameroon, Angola, Ghana, and South Africa. Recently, it supplied jet fuel to Saudi Aramco, signaling its growing international influence.