2020 started off great for the 62-year-old President/Chief Executive Officer of Dangote Group, Aliko Dangote, who has emerged the 96th richest person in the world while retaining his status as Africa’s richest man.
According to the latest ranking of the Bloomberg Billionaires Index, Dangote “became $4.3 billion richer in 2019 as his fortune continued to grow on the back of investments in cement, flour and sugar.”
Bloomberg, in the report, noted that prominent Nigerian businessman and Africa’s most prominent industrialist ended the decade with a net worth of $14.8 billion.
According to the Bloomberg Billionaires Index, Dangote ended the decade with a net worth of almost $15 billion, making him the 96th wealthiest man in the world.
This year, 2020, is a critical one for one of his biggest projects, an oil refinery and petrochemical plant by the Dangote group is expected to be launched in Nigeria’s commercial city of Lagos.
When completed it will be Africa’s biggest private refinery with analysts stressing that it will help Nigeria’s economy in many ways.
The plant has the capacity to meet more than Nigeria’s entire fuel consumption and could transform an economy that currently imports all its refined product needs. Dangote is also constructing a fertilizer factory on the same site, the Bloomberg report added.