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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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Press centre Food Vendor Hajiya Hadiza Is Dead

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The Kano press community has been thrown into mourning following the death of Hajiya Hadiza, a popular food vendor.

Known for her warm personality and dedication to her business, Hajiya Hadiza reportedly passed away on Monday morning after a brief illness.

News of her death spread rapidly across the Press Centre, and environs on Monday, leaving many journalists, media workers and associates in shock.

Colleagues described the development as devastating, saying her absence would be deeply felt within the media community after nearly two decades serving meals to media practitioners and members of the public .

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For years, Hajiya Hadiza’s food stand was more than a place to eat. It served as a meeting point where reporters, editors and guests gathered for meals, conversations and moments of relaxation amid their demanding schedules.

Beyond her role as a food vendor, she was widely recognized for providing employment opportunities to young women, many of whom learned valuable skills and earned a livelihood through her business.

Several journalists who spoke on the development recalled her kindness, generosity and motherly disposition. They noted that she treated customers with respect and maintained strong relationships with people from different walks of life.

Members of the NUJ Press Centre described her as an integral part of the environment, saying her contributions over the years helped shape the social fabric of the press community. They prayed for Almighty Allah to forgive her shortcomings and grant her eternal rest.

As tributes continue to pour in, many say Hajiya Hadiza’s legacy will endure through the countless lives she touched, the young women she empowered and the memories she created among generations of journalists who passed through the Press Centre.

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2027: Over 1,500 Gombe Indigenes at KEDCO Endorse Dr. Jamil Isyaku Gwamna for Governor.

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In a major show of confidence and grassroots support, over 1,500 indigenes of Gombe State currently working at the Kano Electricity Distribution Company (KEDCO) have unanimously endorsed the gubernatorial candidate of the All Progressives Congress (APC) in Gombe state, Dr.Jamil Isyaku Gwamna, for the 2027 governorship election.

The group, comprising staff across various departments and ranks within KEDCO, organised a solidarity event to appreciate Dr. Gwamna and reaffirms their unwavering commitment to his candidacy and vision for the future of Gombe State.

The endorsement carries profound significance, as Dr. Gwamna is widely credited with securing employment opportunities for over 1,500 Gombe indigenes during his tenure at KEDCO—an intervention described by beneficiaries as transformative and life-changing.

The event was attended by the Managing Director of KEDCO, Dr. Abubakar Shuaibu Jimeta, who joined virtually from Saudi Arabia, where he is currently performing Hajj pilgrimage. Notably, Dr. Jimeta is among those whose careers were positively impacted under Dr. Gwamna’s leadership.

Speaking on behalf of the group, the KEDCO staff expressed deep appreciation for Dr. Gwamna’s visionary leadership, particularly highlighting his role in creating employment opportunities that have shaped their lives and careers.

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They described his intervention as a “life-changing opportunity” that has not only transformed their personal circumstances but also uplifted their families and communities across Gombe State.

“We are here to stand firmly behind a leader who invested in our future. Dr. Gwamna is a man of vision, compassion, and proven capacity. We are fully committed to supporting him until he emerges victorious in 2027. Not only us, but our relatives, families and well wishers are with and will support you hundreds percent,” the group stated.

The staff further emphasized that Dr. Gwamna remains the most qualified candidate to sustain and build upon the developmental strides of the current Governor of Gombe State, Muhammadu Inuwa Yahaya, CON, particularly in infrastructure, economic growth, and human capital development.

In his response, Dr. Gwamna, who almost broke into tears, expressed profound gratitude, visibly moved by the show of loyalty and appreciation.

He noted with pride that many of the beneficiaries of his interventions have risen through the ranks to occupy strategic positions, including managerial and senior administrative roles within KEDCO.

“Seeing you all today fills my heart with joy. This is a testament to the power of opportunity and the importance of investing in people. I am proud of what you have all become.

Dr. Gwamna commended their dedication and urged them to continue contributing meaningfully to the growth and stability of KEDCO, while serving as worthy ambassadors of Gombe State wherever they found themselves.

He reiterated his commitment to inclusive governance, stressing that his administration, if elected In sha Allah, will prioritize job creation, youth empowerment, and sustainable development.

“My doors remain open to all individuals and groups willing to partner for the progress and prosperity of our dear state. Together, we will build a future of opportunity, unity, and shared success,” he added.

The event attracted a wide range of stakeholders, including clerics, business leaders, politicians, and party officials, further underscoring the growing support base of Dr. Gwamna ahead of the 2027 governorship election.

 

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Obi Accepts NDC Ticket, Pledges to Raise Nigeria’s Power Generation to 10,000MW in Four Years

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By Yusuf Danjuma Yunusa

Presidential candidate of the Nigerian Democratic Coalition, Peter Obi on Saturday formally accepted his nomination and unveiled an ambitious reform agenda aimed at confronting Nigeria’s worsening insecurity, economic stagnation and infrastructure deficit, including a pledge to raise electricity generation to 10,000 megawatts within four years.

Obi made the pledge in his acceptance speech delivered in Abuja after emerging as the party’s flag bearer, where he expressed gratitude to party leaders and delegates for what he described as their confidence in his leadership capacity.

“It is with deep humility that I accept the role of presidential candidate for our party. I express my profound gratitude to the leaders of our party, His Excellency Seriake Dickson, the National Chairman, National Secretary and the National Working Committee members of our relentless supporters, and the Nigerian populace who have steadfastly kept the spirit of hope alive,” he said.

He said Nigeria was currently at a difficult crossroads marked by insecurity, economic hardship and declining public confidence in governance.

According to him, the situation had created widespread disillusionment across communities and businesses, though he insisted that the country still had the capacity for recovery if leadership choices improved.

“Businesses are struggling, communities are suffering, and an alarming number of citizens have lost faith in the very concept of governance.

“Yet, I stand before you filled with optimism and strong faith in the resilience of our people, for I firmly believe that a New Nigeria is possible,” he said.

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Obi stressed that Nigeria’s diversity should be seen as a strength rather than a fault line, warning against deepening ethnic, religious and regional divisions.

Turning to insecurity, the NDC presidential candidate said Nigeria’s security challenges had deteriorated significantly in recent years, citing global rankings that placed the country among the worst affected by terrorism.

He said, “In terms of security, the situation in Nigeria has considerably worsened. The global terrorism impact assessments ranked Nigeria as the 8th most affected nation in 2022, 6th in 2024, and 4th in 2026.”

However, he contrasted the current situation with Nigeria’s historical role in international peacekeeping missions, where its military once enjoyed global respect.

The former governor referenced Nigeria’s contributions to global missions across several countries and praised the legacy of Nigerian military leadership in international operations.

Obi vowed that his administration would prioritise security reforms.

“We must address insecurity with resolve and urgency, for no nation can thrive while its citizens live in trepidation. The primary responsibility of government is to ensure the safeguarding of lives and property,” he said.

He promised an intelligence-driven and technology-supported security framework aimed at tackling both immediate threats and underlying causes such as poverty and unemployment.

On health, Obi decried Nigeria’s poor indicators, particularly infant mortality and low health insurance penetration, promising major reforms.

“Nigeria suffers from one of the highest infant mortality rates in the world. Furthermore, health insurance coverage in Nigeria hovers around a mere 10 per cent, in stark contrast to countries like Indonesia, which boast over 90 per cent coverage.

“This situation is regrettable. I pledge that within four years, our health insurance coverage will more than double to over 20 per cent,” he said.

On energy, Obi described Nigeria’s electricity crisis as a major constraint to development, noting the gap between Nigeria and other comparable economies.

“Nigeria today is the nation with the highest number of citizens lacking access to electricity globally. We currently generate and distribute a mere 4,000 megawatts (MW) of electricity for a population exceeding 200 million,” he said.

He compared Nigeria’s output with that of other countries to underline the scale of the challenge.

Obi then made a major campaign promise.

“Over the next four years, I commit to ensuring a minimum of 10,000 MW power increase generation and distribution,” he said.

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