For years, lists of Africa’s richest people have started with the same name: Aliko Dangote.
Dangote was born on 10 April 1957 in Kano, northern Nigeria, into a wealthy trading family. His great-grandfather, Alhassan Dantata, was one of the richest men in West Africa in his time.
First trades
As a young man, Dangote started a trading business with a loan from his uncle. He bought and sold commodities such as cement, sugar and rice, importing goods and distributing them across Nigeria.
The business grew as he built networks and learned where the profits were.
From trading to making
Dangote’s big shift came when he moved from importing goods to producing them in Nigeria. He built factories for sugar, salt, flour and, above all, cement. Nigeria’s growing population needed buildings, and cement was in constant demand.
Dangote Cement
Dangote Cement became Africa’s largest cement producer, with plants in Nigeria and other African countries. It is one of the most valuable companies listed on the Nigerian stock exchange.
Critics say Dangote’s companies have benefited from government policies that restricted imports and from close ties with those in power. Supporters say he invested in Nigeria when others did not.
The refinery
Nigeria exported crude oil for decades but imported most of its petrol. Dangote set out to change that by building a huge refinery at Lekki, near Lagos, designed to process about 650,000 barrels a day. It began production in 2024 after years of construction and delays.
The refinery has brought disputes with regulators and fuel marketers over supply and pricing.
Other businesses
Beyond cement, the group has invested in fertiliser, with a large plant in Lagos, and in food processing. Its trucks, carrying cement and goods, are a constant sight on Nigeria’s highways.
Philanthropy
The Aliko Dangote Foundation funds health, education and nutrition programmes, and Dangote has supported efforts against polio and malnutrition in Nigeria.
Richest in Africa
Forbes has ranked Dangote as Africa’s richest person for many years. His fortune rises and falls with the value of his cement business and the naira, but his position at the top has rarely been challenged.
Built on basics
Dangote did not make his money in technology or finance. He made it in cement, sugar, salt and flour, the things Nigerians buy every day, which is why his name is printed on bags in almost every market in the country.
