Africa’s richest man Aliko Dangote adds $3 billion to net worth year-to-date

Africa’s richest man, Aliko Dangote, has added $3.05 billion to his wealth so far this year, driven by rising share prices on the Nigerian Exchange (NGX) that benefit his cement, sugar, and salt businesses. The increase cements his status as the continent’s wealthiest individual and the only African and Black billionaire with a net worth exceeding $30 billion.

According to the Bloomberg Billionaires Index, Dangote, who leads the Dangote Group—Africa’s most diversified industrial and manufacturing conglomerate—has seen his net worth climb from $30 billion on Jan. 1, 2026, to $32.7 billion by Feb. 18. The latest increase reflects a steady rise from $28.1 billion at the start of 2025, driven largely by the performance of Dangote Cement, in which he holds an 87.45 percent stake.

Investors flock to Dangote Cement as shares gain 36% year-to-date

Dangote Cement’s shares have risen 36 percent year-to-date, lifting market capitalization to $10.2 billion. This surge has pushed the value of Dangote’s 87.45 percent stake to roughly $9 billion. Investors have shown strong interest in the cement maker ahead of its full-year 2025 results, following a nine-month period in which revenue climbed 23.2 percent to N3.15 trillion ($2.31 billion) and profit after tax soared 166.3 percent to N743.3 billion ($546 million).

The company continues to operate at scale, with an installed capacity of 55 million tonnes annually across Africa, including 35.25 million tonnes in Nigeria. While domestic volumes for the nine months ended September 2025 fell 2.1 percent to 20.2 million tonnes due to softer demand in some markets, itt expanded exports, sending 27 ships of clinker to Ghana and Cameroon. Cement and clinker exports from Nigeria rose 23 percent to 1.1 million tonnes. It also introduced 1,600 compressed natural gas trucks to lower fuel costs and improve margins.

Dangote refinery scales up, targets 1.4M barrels to meet Nigeria fuel demand

Beyond cement, Dangote is advancing his mega refinery, the Dangote Petroleum Refinery. After signing agreements to expand capacity to 1.4 million barrels per day, the refinery has reached its initial capacity of 650,000 barrels per day. It aims to supply 60 million to 65 million liters of petrol daily to meet Nigeria’s average consumption, with surplus exports of 15 million to 20 million liters per day, according to Dangote himself. This expansion highlights the billionaire’s continued focus on strengthening Nigeria’s industrial base and boosting his broader portfolio.