Nigerian industrialist and business magnate Aliko Dangote has seen his wealth climb to nearly $36 billion as his refinery, cement, and fertilizer businesses continue to expand across Africa.

Dangote Cement, Africa’s largest cement producer, has announced plans for a partial listing in London in a move expected to strengthen its international presence and attract more global investors.

The company currently operates in more than ten African countries and has an annual production capacity of 55 million tonnes.

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The latest development comes as the wealth of Africa’s richest man continues to rise sharply.

According to the Bloomberg Billionaires Index, Dangote’s net worth has climbed to $35.9 billion after increasing by $1.03 billion within just a few days.

The latest figures mean he has gained approximately $5.92 billion since the beginning of 2026, making him one of the continent’s top-performing billionaires this year.

The surge in wealth has been driven by the strong performance and expansion of several businesses under the Dangote Group.

At the same time, Dangote Fertilizer is reportedly witnessing increased orders as tensions involving Iran continue to disrupt global fertiliser supply chains.

The fertiliser company is also seeking additional dollar-denominated bonds to support its long-term expansion plans after securing a $750 million private bond deal.

Meanwhile, Dangote is pushing ahead with plans to establish a major oil refinery project in Kenya, a development expected to significantly reshape energy supply in East Africa.

According to reports by the Financial Times, the proposed refinery project is estimated to cost between $15 billion and $17 billion, potentially making it one of the region’s largest industrial investments.

The planned Kenyan refinery is expected to surpass Uganda’s ongoing partnership with Alpha MBM Investments, which is developing a $4 billion refinery project in Hoima District.

Back in Nigeria, Dangote Refinery continues to strengthen its global footprint as exports increase amid rising international demand for energy products.

Reports indicate that the refinery has shipped approximately 57 million barrels of jet fuel over the past two years.

SO/MA

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