Nigeria Business magnate and richest man in Africa, Aliko Dangote’s wealth has increased more than double to $28 billion following the long-awaited opening of his Nigerian oil refinery.
Gatekeepers News reports that this was revealed in Bloomberg Billionaires Index.
The refinery is the largest single-train facility in the world. It is capable of processing a broad range of global crude types.
The project which was launched in 2023 represents a monumental investment for Dangote, who has financed it largely through his own fortune.
By producing refined petroleum products domestically, Dangote refinery could eliminate the country’s dependence on fuel imports, a reliance that has damaged its economy.
Yet Dangote, whose primary fortune was built on cement, is quick to acknowledge the challenges. “
While speaking on the complexity of the project and its obstacles during a recent interview, Dangote said,” I didn’t know what we were building was a monster.”
