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Aliko Dangote

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Aliko Dangote
GCON
A photograph of Dangote, wearing a black suit on a white shirt and tie
Dangote in 2014
Born
Aliko Mohammad Dangote[1]

(1957-04-10) 10 April 1957 (age 67)
Kano, Kano State, British Nigeria
Alma materAl-Azhar University (BSc)
OccupationBusinessman
Years active1977–present
TitleFounder and CEO of Dangote Group
Spouses
Zainab Dangote
​
​
(m. 1977, divorced)​
Mariya Muhammad Rufai
​
​
(divorced)​
Children4[2]
RelativesAlhassan Dantata (great-grandfather)
Sani Dangote (brother)
AwardsFull list

Aliko Mohammad Dangote GCON (born 10 April 1957) is a Nigerian businessman known for his key roles in Dangote Group and Refinery. In 2011, he was appointed as member of the economic management team by President Goodluck Jonathan. Dangote is the wealthiest black person in the world; as of March 2025, Forbes estimates his net worth to be US$23.8 billion.

In 1977, Dangote first founded the Dangote Group, a small company that traded commodities; importing sugar, salt, and food products. In 1981, he founded Dangote Nigeria Limited and Blue Star Services; both import rice, and bulk materials like steel and aluminium products. Following the large sales by the company, and high demand for cement, Dangote founded the Dangote Cement, which faced competition from Lafarge, a French cement manufacturing company known for importing cement to African countries during that period. As of 2023, Dangote Cement has generated about $3.7 billion in revenue, and Dangote Sugar Refinery has been ranked as one of the largest sugar producers in Nigeria and Africa.[3]

Dangote's political activities and views have made him a public figure, in Africa. He is also known for his influence on the Economy of Nigeria, hence, he was awarded the Grand Commander of the Order of the Niger in 2011 by Goodluck Jonathan and listed in Time magazine's 100 most influential people in the world in 2014.

Early life

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Family

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Aliko Mohammad Dangote was born on 10 April 1957, in Kano, Kano State, British Nigeria.[4] His name "Aliko" was given to him by his maternal grandfather, Sanusi Dantata, which means "the victorious one who defends humanity".[4]

Born to a wealthy family, Dangote is of an Hausa descent. Raised a Muslim, he was educated in a Madrasa and completed his primary education in a public school.

His mother, Mariya (née Dantata), from a wealthy family, was a businesswoman and philanthropist. His father Mohammed Dangote was a businessman, who owned a transport company. Aliko had three siblings: Sani Dangote, a businessman who died of colorectal cancer;[5] Bello, who died in a 1996 plane crash alongside the son of Sani Abacha; and Garba, who died in 2013 after a stroke.[6]

Dangote's family were influential business people. His great-grandfather Alhassan Abdullahi Dantata was the richest person in West Africa until his death in 1955. During his business career, Alhassan imports Kola nuts from Ghana, and exports groundnuts abroad.[4][a] After Dangote's father died in 1965, he donated his inheritance to charity. He cites his grandfather Sanusi, and maternal uncle, Usman Amaka Dantata, as his paternal figures.[4]

Education and marriage

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Dangote had his university education at Al-Azhar University in Cairo

Dangote was educated at Sheikh Ali Kumasi Madrasa for his primary school and later finished at Capital High School in Kano.[7] In 1978, he graduated from the Government College, Birnin Kudu, where he had his secondary education.[8]

He left Nigeria for Egypt after his secondary education, and studied business studies at Al-Azhar University in Cairo, Egypt, for his tertiary education and graduated with a bachelor's degree in business studies and administration, before returning to Lagos to pursue business ventures.[4][7]

Dangote has fathered four children; three daughters and an adopted son, Abdulrahman.[9][10][11] According to Nigerian website Legit.ng, unlike Dangote, his wives hated publicity, and cites it may be the reason for little information about them on the media. At the age of twenty, in 1977, he married his first wife, Zainab, who was selected by his parents following the customs of the land. They gave birth to Maria and Halima. The couple divorced in an unknown year.[12] In an unknown date, he married Mariya Muhammad Rufai, the daughter of former Commissioner for Woman Affairs and Human Services in Bauchi State. Through the marriage, he had his third daughter, Fatima. The couple divorced in 2017.[13]

Business career

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Main articles: Dangote Group, Dangote Cement, and Dangote Refinery
Distillation column at Dangote Refinery

Dangote started his first business with a $3000 loan from his uncle. He traded food products, and has cited getting business mind from selling boiled sugar sweets at the age of eight to his classmates, and would keep the profits.[4] He obtained Nigerian government import license and added cement to his business in the mid-to-late 1970s during Nigerian Cement Armada; a period where the government ordered the importation of 16 million metric tons of cement for infrastructure and development projects, however, many cement-loaded ships remained at Lagos harbor, while others sank. They were given demurrage fee as compensation for delay.[14] During that period, Dangote purchased trucks and began cargo transportation business where he also carried his cements.[15]

In 1977, Dangote's company produced pasta, salt, sugar, and flour only. In 1981, he expanded his company into a conglomerate, which traded textiles, sugar, flour, salt, oil and gas, and real estate. He stayed in Atlanta, Georgia before returning to Nigeria to start his cement business in 1998, however, his sugar refinery in Lagos became the second largest in the world.[15] Dangote Group has been considered as one of the largest conglomerates in Africa.[16] 1n 2000, after his friend Olusegun Obasanjo won the 1999 Nigerian presidential election, the Nigerian government privatized Benue Cement Company (BBC), a now defunct state-owned company in Gboko, Benue State, allowing Dangote to expand his cement business in Benue. Dangote's Obajanu cement plant in Kogi State became the largest cement plant in Sub-Saharan Africa. In 2010, the group acquired some part of South Africa's Sephaku Cement.[15]

In July 2012, Dangote's request to the Nigerian Ports Authority inorder to lease an abandoned land at Apapa Port Complex was approved.[17] In February 2022, he announced the completion of the Peugeot assembling facility in Nigeria following his partnership with Stellantis, the parent company manufacturers of Peugeot. Dangote became the owner of Dangote Refinery, the largest oil refinery in Africa.[18] It was commissioned in 2023.[19][20]

Political activities

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Dangote's business interests and philanthropic efforts extend to African countries such as Benin, Cameroon, Ghana, Nigeria, South Africa, and Togo.

Nigeria

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Dangote was a key supporter of his friend President Olusegun Obasanjo's re-election campaign in 2003. He contributed over N200 million to the campaign.[21] In 2011, he was appointed by President Goodluck Jonathan as a member of his Economic Management Team.[22]

Dangote was named as an adviser for President Muhammadu Buhari’s reelection campaign of the 2019 Nigerian presidential election. Femi Otedola was listed also, however, spokesmen for both didn’t respond to calls and requests for comments.[23] Dangote donated ₦150 million to help combat the Ebola outbreak in 2014.[24][25] In 2020, he donated ₦200 million to support the fight against COVID-19 Pandemic.[26][27]

Nigeria anticipated the Dangote Refinery as a solution to high fuel prices instead faced monopolistic challenges. Tensions arise between Dangote, NNPC Limited, and oil marketers due to conflicting interests.[28]

Dangote's conglomerate dominates Nigeria's cement and sugar sectors, and competitors struggle against his resources and government-backed advantages. His oil refinery in Lagos has raised concerns like monopolization of fuel supply, risking higher prices and reduced competition following alleged government concessions including tax exemptions. Nigerian newspaper, Business Day, argues that fuel from Dangote's refinery has reportedly been expensive than imported ones, hence questioned the consumer benefits.[29]

Benin

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Dangote's business interests extend to Benin Republic, where he has invested in his cement business. His company, Dangote Cement, has established a cement plant in Benin.

Ghana

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In Ghana, Dangote established a cement plant in Ghana and has supported import of cement and other commodities.

Criticisms

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In a 2014 Op-ed on Vanguard News, former Director General of the Nigerian Broadcasting Service Sa'adatu Modibbo Kawu questioned Dangote's source of income.[30] He wrote that Dangote benefits from Nigeria's market especially after the country's transition to civil rule. He cites the National Bureau of Statistics of Nigeria writing that many Nigerians have gotten poorer. While criticising Forbes for celebrating Dangote, he called it "an uber-capitalist magazine".[31]

Dangote was alleged to have supported Obasanjo's presidential election in 1999, hence, Obasanjo provided him with "exclusive" import rights of cement, sugar, and rice. In a dated 2007 diplomatic cable that appeared on WikiLeaks in 2011, the US consul general in Lagos Brian Browne suggested that Dangote was given preferential treatment in exchange for funding Obasanjo's reelection campaign in 2003. Dangote dismissed the claim.[31]

Personal life

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Dangote was a member of President Jonathan's economic management team and job creation committee in 2011. Also in November of the same year, he was awarded the Grand Commander of the Order of the Niger, the second highest honour in Nigeria. He was the first nongovernmental figure to receive the distinction.[31]

In 2012 and 2013, he sued Cletus Ibeto citing that Ibeto Cement receives illegal tax breaks.[32] He is a philanthropist and along with his foundation, Dangote Foundation, has reportedly contributed to the social and education sector of Nigeria; in 2011, he reportedly give $60 to each displaced person as a result of the violence 2011 Nigerian presidential election.[32]

Dangote has five grandchildren. He took his family to Walt Disney World in 2012.[33]

Wealth

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This section is an excerpt from Wealth of Aliko Dangote.[edit]
Dangote during the Fellowship Programe with Young Global Leaders announcement at the African World Economic Forum in Cape Town, South Africa, 2011

Aliko Dangote is the wealthiest person in Africa, with an estimated net worth of US$28.1 billion as of 19 March 2025, according to the Bloomberg Billionaires Index,[34] and $23.8 billion according to Forbes, primarily from his Cement and sugar business.[35]

Having been first listed on the Forbes Billionaires List in 2008, with a networth of $3.3 billion. His wealth dropped by 2009 to $2.5 billion, and subsequently, $2.1 billion in 2010. His wealth increased to $13.8 billion in 2011 after he founded the Dangote Cement.[36] Dangote hold a share of 86 percent of Dangote Cement as well as in other traded holding like NASCON Allied Industries, Dangote Sugar, and the United Bank for Africa. According to Nairametrics, his wealth decreased by over $1 billion in 2024 as a result of naira's low market value and moderation in the value of his equity holdings.[37] By September 2024, Dangote regained his position as the richest man in Africa after being surpassed by Johann Rupert in January of the same year.[38]

Legacy

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Dangote became the first billionaire in Nigeria in 2007.[39] In 2012 The Guardian wrote that he is the richest man in Africa and the richest black man in the world."[40] According to Nigerian newspaper Vanguard, the Bloomberg Billionaires Index reports that Dangote's wealth increased by $9.2 billion in 2013. The 2015 Swiss Leaks revealed that he was a client of the British university Bank, HSBC, thereby having assets in the British Virgin Islands.[39][41]

While serving as a member of NEMT,[b] Dangote was awarded the Grand Commander of the Order of the Niger (GCON)[c] by President Goodluck Jonathan in 2011. He was the first non government official to receive the distinction. [43] In April 2014, Time listed him among its 100 most influential people in the world.[44] In 2015 Dangote was listed among "50 Most Influential Individuals in the World" by Bloomberg,[45] the Guardian Man of the Year award,[46] and was cited as one of the top 100 most influential Africans by London-based magazine, New African.[47]

Dangote was named co-chair of the US-Africa Business Center in September 2016 by the United States Chamber of Commerce.[48] he was appointed as the Chairman of the Nigeria End Malaria Council by Buhari in August 2022.[49]

Awards and honours

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Dangote was appointed by Goodluck Jonathan as member of his economic management team in 2011.[50] In 2017, he denied the alleged run for Nigerian president in the 2019 election,[51] and served on the special advisory committee for the reelection campaign of Muhammadu Buhari.[52]

Dangote has worked alongside the Gates Foundation on public health issues.[53] In August 2014, he donated 150 million naira to assist the Nigerian government's efforts of treating and preventing Ebola.[54] In May 2016 he pledged $10 million to support Nigerians affected by the Boko Haram insurgency.[55] In March 2020, he donated 200 million naira to fight against the spread of COVID-19 in Nigeria.[56]

Dangote is a fan of English football team Arsenal F.C. and showed interest in buying the club in 2019.[57] In 2020, he made a donation to Nigeria's ministry of sports in order to help renovate the Moshood Abiola National Stadium in Abuja.[58]

Notes

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  1. ^ Groundnuts and peanuts were Nigeria's major export produce until the discovery of crude oil in the 1950s.[4]
  2. ^ TNEMT is an account meaning the National Economic Management Team.
  3. ^ GCON is the second highest honor given in Nigeria.[42]

Citations

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  1. ^ Fayemiwo, Moshood Ademola. "Aliko Mohammad Dangote: The Biography of the Richest Black Person in the World". Retrieved 27 March 2025.
  2. ^ Golub, Kate (11 January 2019). "Aliko Dangote's children: interesting facts to know". Legit.ng. Retrieved 18 March 2025.
  3. ^ Ekeugo, Nmesoma (3 November 2024). "Dangote vs Tinubu: A Clash of Titans". The Republic. Retrieved 19 March 2025.
  4. ^ a b c d e f g Wilson 2015, p. 137a.
  5. ^ "Sani Dangote dies: Aliko Dangote brother Sani, Vice President of Dangote Group don die" (in Nigerian Pidgin). BBC News Pidgin. 15 November 2021. Archived from the original on 15 November 2021.
  6. ^ Stets, Regina (29 September 2022). "Aliko Dangote's biography: the story of the richest man in Africa". Legit.ng. Retrieved 18 March 2025.
  7. ^ a b "Aliko Dangote: Things You Never Knew About Him, His Wives and Children". naijanews.com. 17 March 2017. Archived from the original on 8 October 2017. Retrieved 8 October 2017.
  8. ^ IV, Editorial (4 January 2018). "Birnin Kudu College hails Dangote on projects". Blueprint. Retrieved 15 March 2020.
  9. ^ David, Pilling (25 November 2019). "Aliko Dangote, Africa's richest man, on his 'crazy' $12bn project". Financial Times. Retrieved 15 March 2020.
  10. ^ Italoye, Ibukun (25 November 2019). "Aliko Dangote's Children: Names of His Sons & Daughters". Nigerian Infopedia. Retrieved 15 March 2020.
  11. ^ Golub, Kate (11 January 2019). "Aliko Dangote's children: interesting facts to know". Legit.ng. Retrieved 19 March 2025.
  12. ^ Golub, Kate (11 January 2019). "Aliko Dangote's children: interesting facts to know". Legit.ng. Retrieved 19 March 2025.
  13. ^ Golub, Kate (11 January 2019). "Aliko Dangote's children: interesting facts to know". Legit.ng. Retrieved 19 March 2025.
  14. ^ Wilson 2015, p. 137a–137b.
  15. ^ a b c Wilson 2015, p. 137b.
  16. ^ "Somalia orders top U.N. official to leave". Reuters. 2 January 2019. Archived from the original on 3 January 2019. Retrieved 2 January 2019.
  17. ^ "Dangote Sugar Refinery Plc (DSR)", Institute of Developing Economies-Japan External Trade Organization. Accessed 26 November 2015.
  18. ^ Emodi, Nnaemeka Vincent (12 February 2025). "Dangote launches Africa's biggest oil refinery". The Conversation. Retrieved 15 March 2025.
  19. ^ Aisha Salaudeen, Nimi Princewill (22 May 2023). "Africa's richest man launches $20 billion refinery to revive Nigeria's oil industry". CNN. Retrieved 23 February 2025.
  20. ^ "Nigeria commissions Dangote Refinery in bid to end fuel imports". Al Jazeera English. 22 May 2023. Retrieved 23 February 2025.
  21. ^ Fasan, Olu (26 August 2024). "Dangote is a state-made colossus; he should serve the common good". Businessday NG. Retrieved 19 March 2025.
  22. ^ "Nigeria's Jonathan adds Dangote to economic team". Reuters. 19 August 2011. Retrieved 19 March 2025.
  23. ^ "Nigeria's Dangote Named As Buhari Election Campaign Adviser". Bloomberg. Retrieved 19 March 2025.
  24. ^ Nwabufo, Fredrick (14 August 2014). "Dangote boosts Ebola fight with N150m". TheCable. Retrieved 19 March 2025.
  25. ^ "Ebola: Aliko Dangote Donates N150 Million To Combat Outbreak in Nigeria". BellaNaija. 14 August 2014. Retrieved 19 March 2025.
  26. ^ Ige, Tofarati (3 May 2020). "Billionaires supporting fight against COVID-19". Punch Newspapers. Retrieved 19 March 2025.
  27. ^ Faminu, Gbemi (4 March 2020). "Dangote donates N200m to fight coronavirus in Nigeria". Businessday NG. Retrieved 19 March 2025.
  28. ^ "Nigeria's oil politics and the other side of Dangote's conglomerate". Businessday NG. 23 September 2024. Retrieved 19 March 2025.
  29. ^ "Nigeria's oil politics and the other side of Dangote's conglomerate". Businessday NG. 23 September 2024. Retrieved 19 March 2025.
  30. ^ Wilson 2015, p. 137b–138a.
  31. ^ a b c Wilson 2015, p. 138a.
  32. ^ a b Wilson 2015, p. 138b.
  33. ^ Wilson 2015, p. 139a.
  34. ^ Chappatta, Brian; Maloney, Tom; Witzig, Jack; Mak, Pei Yi; Heathcote, Andrew (1 March 2017). "Bloomberg Billionaires Index". Bloomberg.com. Retrieved 19 March 2025.
  35. ^ "Aliko Dangote". Forbes. 17 February 2025. Retrieved 19 March 2025.
  36. ^ Nsehe, Mfonobong (1 June 2013). "Aliko Dangote Is Africa's First $20 Billion Man". Forbes. Retrieved 19 March 2025.
  37. ^ Adesina, Olumide (15 August 2024). "Aliko Dangote's Wealth Down by $1.2 Billion in 2024". Nairametrics. Retrieved 19 March 2025.
  38. ^ "Dangote reclaims title of Africa's richest person". The New Times. 8 September 2024. Retrieved 19 March 2025.
  39. ^ a b "Billionaire ranking: Dangote reclaims top position on Forbes Africa's list". Vanguard News. 9 January 2024. Retrieved 27 January 2025.
  40. ^ Hirsch, Afua (3 April 2012). "Africa's richest man is cementing his place in history". The Guardian. Retrieved 27 January 2025.
  41. ^ Dan-Awoh, Deborah (7 September 2024). "Nigeria's Aliko Dangote regains Africa's richest title from Johan Rupert". Nairametrics. Retrieved 27 January 2025.
  42. ^ "Why we offered GCON to Dangote". Vanguard News. 14 November 2011. Retrieved 19 March 2025.
  43. ^ "Why we offered GCON to Dangote". Vanguard News. 14 November 2011. Retrieved 27 January 2025.
  44. ^ "Dangote, Okonjo-Iweala Named In Time Magazine 100 Most Influential". Channels Television. 24 April 2014. Retrieved 27 January 2025.
  45. ^ "Dangote Emerges Only African on Bloomberg's List of 50 Most Influential People". This Day. 6 December 2017. Retrieved 23 March 2020.
  46. ^ "Dangote honored as the guardian man of the year 2015". The Guardian. 23 April 2016. Retrieved 23 March 2020.
  47. ^ "Nigerians dominate New Africa's 100 Most Influential Africans of 2015". Vanguard. 24 November 2015. Retrieved 6 January 2021.
  48. ^ "US Chamber names Dangote Co-Chair of US-Africa Business Centre". Vanguard News. 20 September 2016. Retrieved 22 March 2020.
  49. ^ "Buhari inaugurates Dangote-led Nigeria End Malaria Council". Premium Times. 16 August 2022. Retrieved 16 August 2022.
  50. ^ "Nigeria's Jonathan adds Dangote to economic team". Reuters. 19 August 2011. Retrieved 11 May 2022.
  51. ^ "I'm Not Running For 2019 Presidency Says Aliko Dangote". Nairametrics. 9 September 2017. Retrieved 11 May 2022.
  52. ^ "2019: Presidency clarifies Dangote's role in Buhari's campaign as Nigerians". 29 December 2018. Retrieved 11 May 2022.
  53. ^ Falade, Faderera (26 September 2019). "What I Admire Most About Dangote – Bill Gates". Nigeria News. Retrieved 11 May 2022.
  54. ^ "Nigeria reports one more Ebola case, 11 in total". Reuters. Archived from the original on 16 August 2014. Retrieved 20 June 2015.
  55. ^ "Boko Haram crisis: Nigerian tycoon Dangote donates $10m in aid". BBC News. 10 May 2016. Retrieved 11 May 2022.
  56. ^ "Dangote donate N200m to fight Coronavirus in Nigeria". CNBC Africa. 3 March 2020. Retrieved 28 March 2020.
  57. ^ Onu, Emele; Lacqua, Francine (24 September 2024). "My Dream of Buying Arsenal Is Over, Says Africa's Richest Man". Bloomberg.com. Retrieved 28 January 2025.
  58. ^ "Dangote's $1m for renovation of MKO Abiola stadium excites Adelabu". The Guardian. 28 August 2020. Retrieved 19 October 2020.
  59. ^ "Dangote Wins NECA's Lifetime Achievement Award". Dangote Industries Limited. 21 December 2022. Retrieved 16 March 2025.
  60. ^ Bello, Olushola (1 December 2023). "NECA Honours Dangote With Lifetime Achievement Award". Leadership News. Retrieved 16 March 2025.
  61. ^ "NECA: Dangote Honoured With Second Lifetime Achievement Award". New Telegraph. 30 November 2023. Retrieved 16 March 2025.
  62. ^ Nsehe, Mfonobong (28 October 2011). "Nigerian Billionaire Aliko Dangote Gets Highest National Honor". Forbes. Retrieved 16 March 2025.
  63. ^ "Dangote emerges winner of Ernst & Young Entrepreneur of 2012 award". Vanguard News. 29 November 2012. Retrieved 16 March 2025.
  64. ^ Nwafor, Arinze (24 October 2024). "Sabistation honours Dangote, Agbogu, others". Punch Newspapers. Retrieved 16 March 2025.
  65. ^ "Dangote bags Senegalese national award". Punch Newspapers. 2 February 2024. Retrieved 16 March 2025.
  66. ^ "Nigerien President honours Dangote with national award over health interventions". Premium Times Nigeria. Retrieved 16 March 2025.
  67. ^ "Aliko Dangote named CEO Of The Year". Blueprint Newspapers Limited. 14 August 2024. Retrieved 16 March 2025.
  68. ^ Okanlawon, Taiwo (31 May 2020). "Dangote Group wins CNN commercial's award". PMNews Nigeria. Retrieved 16 March 2025.

Sources

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