The net worth of Aliko Dangote, Africa’s richest man, has soared by $10.5 billion over the past year. Consequently, he is now worth $23.9 billion and, for the first time since 2018, is back in Forbes’ list of the world’s top 100 richest individuals. The surge stems from the successful launch of the Dangote Petroleum Refinery in Lagos, where he holds a 92.3% stake. With a capacity of 650,000 barrels per day, the refinery is Africa’s largest. Even though it only began operations last year, it has already disrupted the longstanding oil monopoly of the state-owned Nigerian National Petroleum Company (NNPC). And despite not yet operating at full capacity, it has also lowered the nation’s petrol imports to their lowest level in eight years.
Source: Business Insider Africa
