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The richest man in Africa, Aliko Dangote, saw a stunning 397 million dollars swept away his fortune on a single day of negotiation following a strong drop in the actions of Cement Dangote on the Nigerian exchange.
According to Forbes’ real -time billionaire tracker, the net heritage of Dangote is now $ 23.2 billion, pushing it to 84th place on the Rich Global list. The drop in the value followed the closure of Wednesday’s concrete concrete shares at N480.00.
Dangote Cement, the largest Nigeria cement manufacturer and one of the most actively exchanged titles on the NGX, has seen over 25 million shares exchanged in over 15,000 agreements between January and April 2025, for a market value of N10.8 billion.
The billionaire businessman holds a participation of 86 % in the company, making it a milestone of its vast industrial empire.
Despite the collapse of the market, the industrial imprint of damage remains formidable. Its jewel of the crown, the oil refinery of the 20 billion dollars – the largest complex of oil refining Africa refinement – began the operations at the beginning of 2024.
It has a participation of 92.3 percent in the refinery, which is expected to significantly reduce Nigeria dependence on imported fuels and remodel the energy sector of the continent.
Also in its wallet there is a huge fertilizer system with a production capacity of 2.8 million tons of urea per year.
An independent evaluation that uses the methodology of current net value, even at 50 % of operational capacity, states the strategic meaning of the system for the economy.
In addition to concrete and energy, Dangote maintains significant participations in companies listed on the stock exchange such as Dangote Sugar, Hide Allied Industries and United Bank for Africa, in addition to the interests in the transformation of food, agriculture and packaging.
These activities are managed directly and through its top investment vehicle, Dangote Industries.
While the billionaire has undergone a serious setback on the stock market, analysts say that its investments are long -term games aimed at deepening the industrial base of Nigeria and driving continental economic transformation.
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