Nigerian business mogul, Aliko Dangote’s wealth has increased significantly from $13 billion to $27.8 billion after the commencement of operations of his newly built refinery in Lagos.
Daily Trust reports that in September, Dangote Refinery officially began distributing refined petrol to the Nigerian National Petroleum Corporation Limited (NNPCL).
Since the refinery commenced operations, several disputes concerning the sale of Premium Motor Spirit (PMS), popularly known as petrol, have slowed the refinery’s progress.
According to Bloomberg, in its latest Top 500 Billionaires Index released on Thursday, the billionaire remains the richest man in Africa and 65th in the world.
The new ranking is the highest the renowned entrepreneur has risen.
Dangote refinery: Profit-making or public responsibility?
IPMAN hopes for lower price as talks with Dangote Refinery begin
He was previously ranked 83rd in 2022.
Dangote had experienced a significant drop in his net worth as of July 2024.
The year leading up to July 29th, saw the philanthropist lose over $1 billion. This is regardless of the fact that in February, Dangote recorded a net worth of $20 billion.
Dangote’s wealth since August stagnated around $13.1 billion to $13.4 billion, making South Africa’s Johann Rupert, Africa’s richest man.
Earlier in September, Dangote’s last change in valuation came in at -$26.4M while his YTD change swung around -$1.84B.
Elon Musk and Jeff Bezos are the richest in the world with $242 billion and $210 billion respectively in their kitties, while Mark Zuckerberg and Larry Ellison followed respectively with $204 billion and $185 billion on the world’s billionaires’ chart.
Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
