Aliko Dangote gains $726 million in 24 hours; net worth nears $32 billion

Buying interest in Nigerian equities has carried into early 2026, lifting share prices across the market and adding fresh gains to the fortunes of the country’s richest investors. Among the biggest beneficiaries is Aliko Dangote, Africa’s richest man, whose net worth rose by $726 million over the past 24 hours, further swelling a fortune that now sits above $30 billion.

Data from the Bloomberg Billionaires Index shows Dangote’s wealth climbed by $726 million in a single day, rising from $31.2 billion at the market open earlier this week to about $31.9 billion at the time of writing. The increase is largely tied to the latest move in Dangote Cement, the continent’s largest cement producer and the core listed asset within Dangote Industries Limited.

Dangote’s net worth nears $32 billion

This builds on gains already recorded this year. Between Jan. 1 and the market open on Feb. 9, Dangote’s net worth increased by $1.21 billion, moving from $30 billion to $31.2 billion. Taken together, his year-to-date gains are now close to $2 billion, thus pushing his wealth toward $32 billion and keeping him firmly within the world’s top 80 richest people, where he ranks 78th.

The recent rise reflects the sharp move in Dangote Cement shares. It operates with an installed capacity of 55 million tonnes per year across Africa, including 35.25 million tonnes in Nigeria, making it the largest cement producer on the continent and a key driver of Dangote’s fortune.

Over the past 24 hours, Dangote Cement shares have increased by 8.8 percent, rising from N660 ($0.48) at market open to N739.9 ($0.54), and lifting its market capitalization on the Nigerian Exchange to N12.27 trillion ($9.05 billion). This has propelled the market value of Dangote’s 87.45 percent stake in the cement giant to N10.73 trillion ($7.91 billion).

Dangote Refinery leads asset portfolio

Aliko Dangote’s largest asset remains the Dangote Oil Refinery, Africa’s biggest refiner, which began operations in 2024. Bloomberg values his 92.3 percent stake in the refinery at $18.6 billion, based on the $20 billion cost of building the facility. He also derives $3.02 billion from his fertilizer plant, which can produce up to 2.8 million tonnes of urea annually. That valuation is based on a net present value estimate assuming a 50 percent utilization rate.

Other holdings round out his balance sheet. Dangote’s 72.25 percent stake in Dangote Sugar Refinery, representing 8,775,541,295 shares, is valued at $443 million. His 62.19 percent holding in NASCON, or 1,680,718,828 shares, adds another $166 million. Bloomberg also estimates $497 million from oil blocks OML 71 and 72, $160 million from Dangote Industries Limited, $148 million from Lagos real estate holdings, $100 million from land in the Lekki Free Trade Zone, $76 million tied to private jet assets, and cash holdings of  $744 million.