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Forbes: Aliko Dangote’s wealth surges by almost 100% to $23.9bn, now 86th richest in the world

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Aliko Dangote

 

Billionaire Aliko Dangote has seen his wealth nearly double to $23.9 billion, according to Forbes, which ranks the Nigerian entrepreneur as the wealthiest person in Africa and 86th in the world. It would be recalled that Forbes ranked Aliko Dangote as the 144th richest person in the world in 2024 with $13.4 billion.

Forbes estimates Dangote’s net worth at $23.9 billion, primarily due to his 92.3 percent stake in Dangote Petroleum Refinery & Petrochemicals. At 67 years old, Dangote is once again one of the top 100 richest individuals worldwide, a position he has not held since 2018, according to the Forbes Real-Time Billionaires List.

This places him significantly ahead of South African Johann Rupert, who is ranked 161st in the world with an estimated wealth of $14.4 billion and very far above Mike Adenuga, who is the second richest in Nigeria and 481, in the world, with a net worth of $6.8 billion.

Dangote disrupted the government’s oil monopoly by constructing the largest petroleum refinery in Africa. After 11 years, a $23 billion investment, and numerous challenges, the Dangote Refinery began operations last year. Located on a vast 6,200-acre site in the Lekki Free Zone, the refinery, at full capacity, will process a remarkable 650,000 barrels per day (b/d), making it the seventh-largest refinery in the world and the largest in Africa. Additionally, the refinery’s adjacent petrochemical complex has an annual production capacity of 3 million metric tons of urea, making it Africa’s largest fertiliser producer.

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The Dangote Refinery is already having a significant impact on global energy markets. Imports of petroleum into Nigeria are on track to reach an eight-year low, affecting European refiners that have traditionally sold to Nigeria, according to energy intelligence firm Vortexa. Furthermore, Nigeria has become a net exporter of jet fuel, naphtha (a solvent used in varnishes, laundry soaps, and cleaning fluids), and fuel oil, according to S&P Global.

Dangote sees the refinery as part of a larger vision to transform Nigeria, one of the world’s largest crude oil producers, into a major producer of refined petroleum products. This would enable Nigeria to compete with European refineries and supply gasoline to Nigerian consumers.

 “I want to provide a blueprint for industrialisation across Africa,” Dangote says in an interview with Forbes. “We have to build our nation by ourselves. We have to build our continent by ourselves, not [rely on] foreign investment.” He believes Africa has long been “a mere dumping ground for finished products,” and his refinery represents “a pivotal step in ensuring that Africa can refine its own crude oil, thereby creating wealth and prosperity for its vast population.”

 Dangote said the refinery is the biggest risk of his life and without success, it would have affected him greatly.  

“It was the biggest risk of my life,” says Dangote about his decision to embark on the project. “If this didn’t work, I was dead.”

Zainab Usman, director of the Africa Programme at the Carnegie Endowment for International Peace, according to Forbes, said Nigerians see Dangote as a hero and a real industrialist transforming the country.

 “He is seen in most parts of Nigeria as a hero. He is seen as a real industrialist who builds things,” she said.

 A professor of African studies at the Soka University of America, Chika Ezeanya, also corroborated this view, noting that Dangote is meeting the needs of consumers on the continent. 

“I think he’s believed staunchly in the fact that Nigerians need products that he has to offer,” he said while adding, “Governments can come and go, policies can be changed, but the needs of the Nigerian consumer will only grow and expand.”

 

 

 

 

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ADC Rejects INEC’s Ruling Interpretation, Vows to Clarify Contradictions

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By Yusuf Danjuma Yunusa

The African Democratic Congress (ADC) has sharply criticized the Independent National Electoral Commission (INEC) over its interpretation of a recent Court of Appeal statement, alleging that the commission has abandoned its neutrality by siding with the federal government.

In a press release issued on Wednesday, the ADC’s National Publicity Secretary, Mallam Bolaji Abdullahi, rejected INEC’s position, describing it as “contradictory and inconsistent with facts.” The party claimed that INEC was acting under pressure from a government it characterized as “jittery” due to the ADC’s growing momentum.

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“We reject INEC’s interpretation of the Court of Appeal ruling,” the statement read. “We knew that INEC was being pressured by a government that has become jittery from the ADC’s rising momentum even in the face of its relentless assault on all opposition parties.”

The ADC accused the electoral commission of caving to political pressure, asserting that it has effectively chosen to align with the government against the Nigerian people. The party vowed to publicly clarify what it called the contradictions in INEC’s statement.

According to the release, the ADC is currently reviewing its legal and political options and will announce its next steps in the coming days. The party urged its members and the public to remain steadfast.

“We are currently reviewing our options, and we shall make these known soon. Meanwhile, we call on our members and all Nigerians to remain steadfast as they await further directives,” the statement concluded, adding the slogans: “Nigeria is rising. ADC is rising.”

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ADC Rising: Salga hails influx of political heavyweights as a turning point for justice

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Ambassador Abdulrahman Mai Nasara Salga, a prominent ADC leader from Dala, Kano, has welcomed the influx of influential politicians into the party, describing it as a sign of ADC’s growing acceptance.

Salga, who contested for the federal legislature in Dala during the 2023 general election, says the party’s progress is heartening, having worked tirelessly to promote ADC’s agenda and position it as a viable alternative for good governance.

He highlights the entry of Kwankwasiyya leader Dr. Rabiu Musa Kwankwaso, former Kano State Deputy Governor Comrade Aminu Abdulsalam, and APC’s 2025 gubernatorial candidate Dr. Nasir Yusuf Gawuna, among others, as major boosts that are transforming ADC into a formidable opposition force.

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Salga believes these developments signal a shift towards justice and better leadership in Kano and Nigeria. He urges party leaders, including Atiku Abubakar, Peter Obi, and Kwankwaso, to unite for success in 2027.

The ADC leader pledges continued efforts to promote the party’s ideals, expressing optimism for a brighter future with these influential additions.

 

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BREAKING: INEC Removes David Mark-Led NWC from Portal, Updates Records Amid ADC Leadership Crisis

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By Yusuf Danjuma Yunusa

The Independent National Electoral Commission (INEC) has formally updated its official portal to reflect changes in the leadership of the African Democratic Congress (ADC), signaling the commission’s recognition of the leadership dispute within the party.

The commission confirmed that the removal of the National Working Committee (NWC) led by David Mark followed a detailed review of a recent Court of Appeal judgment and an ongoing suit at the Federal High Court in Abuja.

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According to INEC, the decision comes after receiving conflicting legal representations from the two factions vying for control of the party. One faction, loyal to Nafiu Bala Gombe, urged the commission to enforce the appellate court’s ruling, which includes withdrawing recognition from the Mark-led NWC. The other faction, aligned with Mr. Mark, advised INEC against recognizing Mr. Gombe as acting national chairman, citing the pending legal proceedings.

The leadership crisis traces back to July 2025, when the ADC’s former leadership resigned, paving the way for a new executive committee headed by Mr. Mark. Mr. Gombe, a former vice-national chairman, has challenged this transition, arguing that the party’s constitution mandates his ascension to the leadership role.

In a ruling delivered on March 12, 2026, the Court of Appeal dismissed an interlocutory appeal filed by Mr. Mark. The court ordered all parties to maintain the status quo ante bellum—the state of affairs before the crisis—pending the resolution of the substantive suit at the Federal High Court.

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