By Editorial Team
Today, April 10, 2025, richest black man on earth, Alhaji Aliko Dangote marks his 68th birthday and deservedly so.
As he celebrates his natal day, the story of Africa’s richest man continues to unfold like a testament to vision, audacity, and nation-building. From humble beginnings to building Africa’s largest industrial empire, Dangote remains a towering figure in the global economic landscape. His name is synonymous with cement, flour, sugar—and now, oil refining.
But beyond the towering silos and factories lies a lesser-known tale of grit, giving, and gargantuan ambition that goes beyond profit margins. This is the untold story of the Dangote Refinery, his expansive business fleet, and a philanthropic spirit that has touched millions.
A $19 Billion Dream: The Dangote Refinery
Perhaps the crown jewel of Dangote’s empire is his ambitious oil refinery—a behemoth project that had long been in the works but finally came alive in 2024. The refinery, located on the outskirts of Lagos, is a pivotal milestone in Nigeria’s economic independence. Worth over $19 billion, this facility marks a historic shift: for the first time, Nigeria, Africa’s largest oil producer, is beginning to refine its own crude oil domestically.
“This is a very, very big relief,” Dangote told Forbes earlier this year. The refinery, after years of regulatory gridlocks and technical delays, began refining a small quantity of crude in early 2024 and is expected to hit full capacity this month. Once fully operational, it will refine 650,000 barrels of crude oil per day, potentially eliminating the need for Nigeria to import refined petroleum products.
For Dangote, this project is more than a business venture—it’s a declaration of intent. “Africa must build its own capacity. We cannot continue to export jobs and import poverty,” he once said. The refinery isn’t just a symbol of industrial might; it’s a cornerstone in Dangote’s vision of a self-reliant Africa.
Fertilising Africa’s Future
Even before the refinery, Dangote was reshaping agriculture on the continent. The $2.5 billion Dangote Fertiliser Plant, sited on 500 hectares of land in Ibeju Lekki, Lagos, is the largest granulated urea fertilizer complex in Africa. With a production capacity of 3 million metric tonnes per annum, it plays a key role in Nigeria’s agricultural revolution and food security drive.
This is just one piece of a vast empire.
Business Fleet: Cement, Cars, Communications, and More
Dangote Group’s portfolio spans a wide array of industries. Through NASCON, it produces salt. It dabbles in tomatoes and rice farming. It has entered the telecoms arena and even dived into the automobile business with Dangote Peugeot Automobile Nigeria Limited in Kaduna. The company also assembles Shacman trucks in Lagos, boosting local capacity and employment.
While the group exited the flour business after divesting from Dangote Flour Mills, it remains a dominant force in cement manufacturing, a sector that has sparked national debates due to rising prices. The company’s dominance has drawn criticism from advocates of market competition. But Dangote, never one to shy away, says, “If we don’t have the right people in government, all the money I have is useless.”
His ability to navigate political and economic landscapes has made him both admired and criticized. He admits to being close to power, but insists it’s a necessity in Nigeria’s business terrain.
The Philanthropic Billionaire
For all his wealth, Dangote’s impact is felt far beyond boardrooms. In 1993, he established the Dangote Foundation, the philanthropic arm of his group, which has since become a cornerstone of humanitarian efforts across Africa. Through it, he has donated billions of naira towards disaster relief, education, health, and women empowerment.
Some of his notable contributions include:
₦2.5 billion to Nigeria’s national flood relief fund in 2012.
₦430 million and ₦100 million to Kogi and Sokoto flood victims respectively.
₦1 billion to states battling Boko Haram insurgency.
₦600 million for women empowerment and school feeding in Kano.
A 1,000-bed hospital in Kano and a ₦1.2 billion student hostel at Ahmadu Bello University.
$2 million to Pakistan for flood relief.
$1 million for education and women’s empowerment in Tanzania.
₦10 million annual scholarship scheme for students from Benue.
He has also invested heavily in capacity building. The Dangote Academy trains young Nigerians in technical and managerial skills, preparing them for employment within the group or elsewhere.
Notably, the Dangote Foundation partnered with the Bill and Melinda Gates Foundation to tackle polio in Northern Nigeria—a disease now almost eradicated in the region.
From Kano to the World
Born into a business family in Kano in 1957, Dangote began trading commodities like sugar and cement in the late 1970s. From there, he built a regional import-export empire that morphed into Africa’s largest industrial conglomerate.
He first appeared on the Forbes Billionaires List in 2008 with a net worth of $3.3 billion, overtaking Oprah Winfrey as the richest black person in the world. He reached his wealth peak in 2014, ranking 23rd globally. Despite economic downturns and fluctuations in the Nigerian economy, Dangote’s resilience kept him atop the African billionaire list for 14 consecutive years.
As of March 2025, Dangote’s fortune is estimated at $23.9 billion, fueled significantly by the inclusion of the refinery in asset valuations. His businesses now employ tens of thousands and contribute significantly to Nigeria’s GDP.
Legacy of Belief
For Dangote, the secret lies not just in daring to dream, but in believing in Nigeria.
“Nigerians can be even bigger than me,” he once said. “You just have to believe that yes, there is a future in this country of ours. If you give me $5 billion today, I will invest everything here in Nigeria.”
It’s a bold statement—and one that Dangote has lived by.
At 68, Aliko Dangote stands as a beacon of enterprise and philanthropy. His life is a blend of ambition, strategic alliances, and unwavering belief in the continent’s promise. Whether building a refinery, providing scholarships, or assembling trucks, Dangote is not just building a business—he’s building Africa.
And perhaps the best chapters of his story are yet to be written.
Happy 68th Birthday, Alhaji Aliko Dangote.