Omanghana
Aliko Dangote has strengthened his position as Africa’s richest person after his net worth climbed to $35.9 billion as of May 10, 2026. The latest valuation places the Nigerian industrialist as the 65th richest individual in the world.
Dangote’s fortune has reportedly increased by nearly $5.92 billion since the beginning of 2026, driven largely by major gains across his energy, cement, and industrial businesses. Analysts say the rapid growth reflects the expanding influence of his companies within Africa’s manufacturing and energy sectors.
A major contributor to the surge is the performance of the Dangote Petroleum Refinery, which has reached its full operational capacity of 650,000 barrels per day. The refinery’s increased production has significantly reduced Nigeria’s dependence on imported fuel and helped position the country as a net exporter of refined petroleum products.
Strong growth at Dangote Cement has also boosted the billionaire’s wealth. The company, recognized as the largest cement producer in sub-Saharan Africa, recorded a sharp rise in share value and reportedly doubled its profits in 2025 to a record one trillion naira amid growing demand for infrastructure and construction materials across the continent.
Additional gains were recorded following the reported multi-billion-dollar sale of Dangote’s U.S.-based food distribution empire, Jetro Restaurant Depot, in late March 2026. The transaction further strengthened his global investment portfolio and liquidity position.
Despite maintaining a commanding lead as Africa’s wealthiest individual, other Nigerian billionaires have also seen significant wealth growth this year. Abdulsamad Rabiu, chairman of BUA Group, recently surpassed Johann Rupert to become Africa’s second-richest person, with an estimated fortune of approximately $19 billion.
Source: Omanghana
