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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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Eid-el-Fitr: Murtala Garo urges Muslims to sustain worship of Allah

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The former deputy governorship candidate of the All Progressives Congress (APC) in Kano State, Hon. Murtala Sule Garo has urged the Muslim faithful to uphold dedication in the worship of Allah beyond the Ramadan period.

Garo said this in a Sallah message, on Saturday in Kano.
He congratulated Muslims on the successful completion of the 2025 Ramadan fast and the Eid al-Fitr celebration.

The Galadima Garo reminded them that the teachings of the Holy Quran and Hadith, centred on peace, love, discipline, and humility.

He noted that the worship of Allah should not only be observed during Ramadan fast, but for lifelong.
While thanking Allah for the season, Murtala Sule Garo, a former Commissioner for Local Government and chieftaincy Affairs, said that the celebration revolved around love, arms giving to the less privileged and peaceful co-existence with people of other religions.

Garo urged Muslims to use the period of the Sallah festivities to also pray for enduring peace in Kano and Nigeria at large.

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Sallah Durbar: Security embargo best interest of Kano, Says Emir Sanusi

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14th Emir Of Kano Muhammad Sunusi II

 

Emir of Kano and Khalifah of Tijaniyya, His Highness, Khalifah Muhammadu Sanusi II, has reacted to the recent ban imposed on Sallah Durbar, noting that the action becomes pertinent for enduring peace and development of the state.

Besides, Emir Sanusi declared that the annual traditional heritage that usually celebrated at the end of Ramadan is not a matter of life and death but a cultural symbol dated back to the 15th century.

Sanusi, former Governor of the Central Bank of Nigeria (CBN) was speaking while hosting eminent Islamic scholars and prominent personalities to Iftar dinner at the palace on Saturday.

The first class emir of Kano described peace as the only backbone of progress and development of any society, accepted to withdraw all planned activities of the emirate intended for the colorful Durbar, inscribed by UNESCO an intangible heritage of humanity.

Recall that the Commissioner of Police in Kano, CP Adamu Bakori under a joint security apparatus announced the ban on the proposed Sallah Durbar, citing impending security threat revealed by relevant intelligent notice.

The Emir, however, reminded that he does not see the Eid El Fitr Durbar as “a matter of life and death”, adding that the lives and safety of Kano citizens are more paramount to him.

He, therefore, appealed to residents and the general public to remain peaceful and law abiding while cooperating with the security agencies to ensure law and order during and after the Sallah festival.

On his part, Kano State Governor Abba Kabir Yusuf, who was represented by the Secretary to the State Government, Alhaji Ibrahim Umar Faruq, applauded the emir for his spirit of love and kindness. He stated that he experienced the Emir’s kindheartedness when was a lecturer at ABU in the early 1980s where he guided and supported them as his students.

The SSG expressed gratitude to the Emir for showing concern for the lives of Kano citizens, by his willingness to cancel the Eid El Fitr Durbar celebration.

Similarly, the Murshid (Chief Imam) of the National Mosque, Professor Shehu Ahmad Galadanci expressed deep appreciation to Emir Sanusi for exhibiting profound wisdom and knowledge as the leader of the Emirate.

Professor Galadanci also a former National Security Adviser aligned with the submission of the emir and emphasized that the lives and properties of people of Kano are more important than the Eid El Fitr Durbar celebration, applauding Sanusi for promoting peaceful coexistence in Kano.

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Sultanate Council Debunks Rumors on Non-Sighting of Shawwal Crescent

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The Sultanate Council has refuted claims circulating regarding the non-sighting of the Shawwal crescent and the subsequent declaration of Eid-al-Fitr prayers on Monday. The council addressed the matter through an official statement posted on its verified Facebook page.

The post, written in Hausa, clarified that His Eminence, the Sultan of Sokoto, has not made any formal announcement concerning the sighting of the Shawwal crescent or the date of the Eid prayer. The statement urged the public to disregard unverified reports and to await an official communication from the Sultanate.

The statement read:

*”Assalamu Alaikum. There is no place where His Eminence, the Sultan of Sokoto, has declared that Eid-al-Fitr prayers will hold on Monday. Members of the crescent sighting committee are diligently performing their duties by gathering reports from various parts of the country.”*

It continued:

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*”At any moment, His Eminence, the Sultan of Sokoto, will make an official statement either confirming the sighting of the Shawwal crescent or otherwise. Any platform claiming that the Sultan has made a declaration about the crescent sighting is spreading false information. Please await an official announcement.”*

The statement emphasized the importance of following established protocols for crescent sighting to ensure that decisions regarding Islamic observances are made accurately and in accordance with tradition.

This development comes amidst heightened anticipation as Muslims in Nigeria and across the globe await the official confirmation to mark the end of Ramadan and the beginning of the month of Shawwal.

The Sultanate Council reaffirmed its commitment to transparency and encouraged the public to rely solely on authorized channels for updates. The crescent sighting committee is currently assessing reports from different regions of the country and will provide recommendations to the Sultan once their analysis is complete.

In the meantime, the council urged Nigerians to exercise patience and to refrain from sharing unverified information that could cause confusion or misunderstanding within the Muslim community.

 

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