https://adronhomesproperties.com/mediaredirect/
https://adronhomesproperties.com/mediaredirect/
https://www.accessbankplc.com/ https://www.accessbankplc.com/ https://www.accessbankplc.com/
ADVERTISEMENT
  • About Us
  • Privacy Policy
  • Contact Us
Friday, October 3, 2025
The Genius Media
  • Login
  • News
  • Politics
  • Business
  • Crime
  • Education
  • Health
  • Jobs
  • Sports
No Result
View All Result
  • News
  • Politics
  • Business
  • Crime
  • Education
  • Health
  • Jobs
  • Sports
No Result
View All Result
The Genius Media
No Result
View All Result
First Bank Ad First Bank Ad First Bank Ad
ADVERTISEMENT
ADVERTISEMENT

Forbes: Aliko Dangote’s Wealth Surges By Almost 100% to $23.9bn, Now 86th Richest In The World

Tgmedia by Tgmedia
February 18, 2025
in News
0
Aliko Dangote's Wealth

Forbes: Aliko Dangote's Wealth Surges By Almost 100% to $23.9bn, Now 86th Richest In The World

ADVERTISEMENT
ADVERTISEMENT
Forbes: Aliko Dangote’s Wealth Surges By Almost 100% to $23.9bn, Now 86th Richest In The World
Billionaire Aliko Dangote has seen his wealth nearly double to $23.9 billion, according to Forbes, which ranks the Nigerian entrepreneur as the wealthiest person in Africa and 86th in the world. It would be recalled that Forbes ranked Aliko Dangote as the 144th richest person in the world in 2024 with $13.4 billion.

Forbes estimates Dangote’s net worth at $23.9 billion, primarily due to his 92.3 percent stake in Dangote Petroleum Refinery & Petrochemicals. At 67 years old, Dangote is once again one of the top 100 richest individuals worldwide, a position he has not held since 2018, according to the Forbes Real-Time Billionaires List.

This places him significantly ahead of South African Johann Rupert, who is ranked 161st in the world with an estimated wealth of $14.4 billion and very far above Mike Adenuga, who is the second richest in Nigeria and 481, in the world, with a net worth of $6.8 billion.

Dangote disrupted the government’s oil monopoly by constructing the largest petroleum refinery in Africa. After 11 years, a $23 billion investment, and numerous challenges, the Dangote Refinery began operations last year. Located on a vast 6,200-acre site in the Lekki Free Zone, the refinery, at full capacity, will process a remarkable 650,000 barrels per day (b/d), making it the seventh-largest refinery in the world and the largest in Africa. Additionally, the refinery’s adjacent petrochemical complex has an annual production capacity of 3 million metric tons of urea, making it Africa’s largest fertiliser producer.

The Dangote Refinery is already having a significant impact on global energy markets. Imports of petroleum into Nigeria are on track to reach an eight-year low, affecting European refiners that have traditionally sold to Nigeria, according to energy intelligence firm Vortexa. Furthermore, Nigeria has become a net exporter of jet fuel, naphtha (a solvent used in varnishes, laundry soaps, and cleaning fluids), and fuel oil, according to S&P Global.

Dangote sees the refinery as part of a larger vision to transform Nigeria, one of the world’s largest crude oil producers, into a major producer of refined petroleum products. This would enable Nigeria to compete with European refineries and supply gasoline to Nigerian consumers.

“I want to provide a blueprint for industrialisation across Africa,” Dangote says in an interview with Forbes. “We have to build our nation by ourselves. We have to build our continent by ourselves, not [rely on] foreign investment.” He believes Africa has long been “a mere dumping ground for finished products,” and his refinery represents “a pivotal step in ensuring that Africa can refine its own crude oil, thereby creating wealth and prosperity for its vast population.”

Dangote said the refinery is the biggest risk of his life and without success, it would have affected him greatly.

“It was the biggest risk of my life,” says Dangote about his decision to embark on the project. “If this didn’t work, I was dead.”

Zainab Usman, director of the Africa Programme at the Carnegie Endowment for International Peace, according to Forbes, said Nigerians see Dangote as a hero and a real industrialist transforming the country.

 

“He is seen in most parts of Nigeria as a hero. He is seen as a real industrialist who builds things,” she said.

 

A professor of African studies at the Soka University of America, Chika Ezeanya, also corroborated this view, noting that Dangote is meeting the needs of consumers on the continent.

 

“I think he’s believed staunchly in the fact that Nigerians need products that he has to offer,” he said while adding, “Governments can come and go, policies can be changed, but the needs of the Nigerian consumer will only grow and expand.”

ADVERTISEMENT

Share this:

  • WhatsApp
  • Email
  • Tweet
  • Telegram

Like this:

Like Loading...
Tags: Aliko Dangote's WealthAliko Dangote's Wealth Surges By Almost 100% to $23.9bnFORBESNow 86th Richest In The World
Previous Post

REPORT!!! NNPCL Imports Over 200 Million Litres Of Petrol In February Despite Refinery Overhaul

Next Post

Allow NDDC Board To Complete Statutory Tenure – Ndoma-Egba

Related Posts

Man Prevented From Committing Suicide By Jumping Off Falomo Bridge
News

Moment Man Prevented From Committing Suicide By Jumping Off Falomo Bridge [VIDEO]

September 25, 2023
#Tinubu Speaks On Meeting Governor #Wike In France
News

LEAKED!!! How #Tinubu And #Wike Met Secretly In France

June 30, 2022
News

#KSA: “Ebenezer Obey And I Often Pretended To Be Fighting”

October 6, 2019
Next Post
NDDC Board To Complete Statutory Tenure

Allow NDDC Board To Complete Statutory Tenure – Ndoma-Egba

Please login to join discussion
https://adronhomesproperties.com/mediaredirect/
ADVERTISEMENT

About Us

Thegenius Media.com.ng is an Online Nigerian NEWS HUB with good coverage and reportage of Exclusive Stories, Daily News Updates, Politics, Entertainment, Crime, Lifestyle, Relationship Tips and Sports.

RELEVANT PAGES

  • About Us
  • Privacy Policy
  • Contact Us

Alert Us

Important Press Releases, Breaking Stories, Special Investigations: thegeniusmedia1@gmail.com

Office Address

No 26 Oroleye Crescent off Abel Oreniyi Street.
Off Salvation Road, Opebi
Ikeja, Lagos

Tel:

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
  • Politics
  • Business
  • Crime
  • Education
  • Health
  • Jobs
  • Sports

© TheGeniusMedia.com,ng

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: