Billionaire industrialist, Aliko Dangote has officially retired as Chairman of the Board of Directors of Dangote Sugar Refinery Plc, ending a 20-year tenure that shaped the company’s growth and market leadership. [Source: NairaMetrics]
Aliko Dangote Biography
Aliko Dangote was born on April 10, 1957, in the ancient commercial city of Kano, Nigeria, from one of the wealthiest and most respected Muslim families in West Africa. Dangote’s full name is Alhaji Aliko Mohammad Dangote.
Aliko was raised in a culture deeply rooted in trade and entrepreneurship. His maternal grandfather, Sanusi Dantata (d.1997) was one of the richest men in Kano and played a crucial role in nurturing Dangote’s early interest in business.
By the age of eight, Aliko Dangote had already begun selling small items like sweets and sugar in primary school; a reflection of the business acumen that would define his adult life. Losing his father at a young age, Dangote was primarily raised by his grandfather, whose legacy and values deeply shaped his career trajectory.
Personal Life & Family
Marital status: Divorced twice; Zainab Dangote (m. 1977) and Mariya Muhammad Rufai. [Source: Britannica]
Children: Three daughters; Halima, Mariya, Fatima and an adopted son, Abdulrahman Fasasi.
Halima Dangote: Executive Director, Commercial Operations, Dangote Industries since 2019; board member of ADF and other organisations
Education and Early Entrepreneurship
Dangote received his primary and secondary education in Kano, attending Government College in Birnin Kudu. At 19, he traveled to Egypt and earned a bachelor’s degree in Business and Administration from Al-Azhar University in Cairo; a prestigious Islamic institution that also equipped him with financial and Islamic business ethics.
Upon returning to Nigeria in 1977, with a $3,000 loan from his uncle, he began trading rice, cement, and sugar. The risk was high, but so was his vision. His ability to spot opportunities, reinvest profits, and understand market needs helped him evolve from a trader into an industrialist. In 1981, he founded Dangote Group, which would eventually grow into one of Africa’s most diversified conglomerates.
Business Empire: The Rise of Dangote Group
Starting as a trading firm, the Dangote Group transformed Nigeria’s economic landscape through large-scale industrial manufacturing. Under his leadership, the company ventured into the refining and production of sugar, salt, flour, cement, pasta, and beverages. The conglomerate now operates in over 10 African countries, including Senegal, Ethiopia, Tanzania, South Africa, and Zambia.
Dangote’s largest success lies in the cement industry; Dangote Cement is now the largest cement producer in Sub-Saharan Africa, with major plants in Obajana (Nigeria’s largest cement factory), Ibese, and Gboko. Dangote’s success has not only positioned him as a titan in African business but also turned Nigeria into a net exporter of cement, saving billions in foreign exchange.
Dangote Refinery and Recent Achievements in 2025
In one of Africa’s most ambitious infrastructure projects, Dangote completed the Dangote Petroleum Refinery, a $20 billion investment located in the Lekki Free Trade Zone, Lagos. Officially commissioned in May 2023 and beginning operations in early 2024, the 650,000 barrels-per-day refinery is the largest in Africa and one of the biggest in the world.
In 2025, the refinery began full-scale refining of diesel and jet fuel, with petrol production expected by mid-year. This development is projected to save Nigeria up to $25 billion in annual fuel imports while generating over $10 billion in exports. It has also positioned Dangote as not only a manufacturer but a strategic player in the global oil market.
Despite challenges including supply issues and cost overruns, the refinery remains a monumental achievement in African industrialization.
Net Worth and Wealth in 2025
Aliko Dangote is consistently ranked as Africa’s richest man and one of the wealthiest Black individuals globally. According to the Bloomberg Billionaires Index as of March 2025, Dangote’s net worth is estimated at $28.1 billion, while Forbes places him at approximately $23.8 billion.
Aliko Dangote’s wealth is primarily derived from his 85% stake in Dangote Cement, holdings in sugar, salt, real estate, and more recently, his controlling interest in the oil refinery.
He also holds minority investments in publicly listed companies, including banks and logistics firms. Despite economic fluctuations and currency devaluation in Nigeria, Dangote’s assets have continued to appreciate due to his industrial focus and pan-African expansion strategy.
- Bloomberg: US $28.1 billion (March 2025) .
- Bloomberg Billionaires Index: ~US $28 billion in early 2025 .
- Forbes: ~US $23.8 billion March 2025 .
- GoodReturns: US $16.1 billion as of Nov 2023; holdings include cement, sugar, oil and gas, real estate
Public Engagement and Personal Interests
In recent public appearances, Dangote has continued to champion infrastructure, youth development, and African self-reliance.
In April 2025, he celebrated his 68th birthday, receiving tributes from top industrialists including billionaire Femi Otedola, who hailed him as “the greatest entrepreneur Africa has ever produced.”
Dangote has also reiterated his interest in acquiring Arsenal Football Club, a lifelong dream he has spoken about in multiple interviews. His recent lifestyle profile in the Wall Street Journal painted a picture of a focused, disciplined man whose routine includes early morning prayers, daily workouts, and reading economic reports.
Conclusion
Aliko Dangote biography is more than just a rags-to-riches tale; it is the blueprint for what is possible when vision, discipline, and opportunity intersect.
From selling sugar as a child to building Africa’s largest industrial empire, Dangote’s journey is a testimony to the power of indigenous entrepreneurship.
As of 2025, he stands not only as Africa’s richest man but also one of its most impactful leaders. His investments in infrastructure, health, and industrial self-reliance continue to shape the continent’s future, making him a figure of inspiration for generations to come.
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