Aliko Dangote GCON (born 10 April 1957) is a Nigerian businessman, investor, and owner of the Dangote Group, which has interests in commodities in Nigeria and other African countries. As of October 2019, he had an estimated net worth of US$8.8 billion.
Dangote at the World Economic Forum, 2011
10 April 1957
|Education||Capital High School, Kano|
|Alma mater||Al-Azhar University, Cairo|
|Occupation||Chairman and CEO, Dangote Group|
|Known for||Richest person on the African continent (2019)|
|Net worth||US$8.8 billion (October 2019)|
Dangote is ranked by Forbes magazine as the 100th-richest person in the world and the richest man in Africa, and peaked on the list as the 23rd-richest person in the world in 2014. He surpassed Saudi-Ethiopian billionaire Mohammed Hussein Al Amoudi in 2013 by over $2.6 billion to become the world's richest person of African descent.
Aliko Dangote, an ethnic Hausa Muslim from Kano, Kano State, was born on the 10th of April 1957 into a wealthy Muslim family. He is the great-grandson of Alhaji Alhassan Dantata, the richest West African at the time of his death in 1955. Dangote has said:
"I can remember when I was in primary school, I would go and buy cartons of sweets [candy] and I would start selling them just to make money. I was so interested in business, even at that time."
Dangote was educated at the Sheikh Ali Kumasi Madrasa, followed by Capital High School, Kano. He has a bachelor's degree in business studies and administration from Al-Azhar University, Cairo.
The Dangote Group was established as a small trading firm in 1977, the same year Dangote relocated to Lagos to expand the company. Today, it is a multi-trillion-naira conglomerate with many of its operations in Benin, Ghana, Nigeria, and Togo. Dangote has expanded to cover food processing, cement manufacturing, and freight. The Dangote Group also dominates the sugar market in Nigeria and is a major supplier to the country's soft drink companies, breweries, and confectioners. The Dangote Group has moved from being a trading company to be the largest industrial group in Nigeria including Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.
In July 2012, Dangote approached the Nigerian Ports Authority to lease an abandoned piece of land at the Apapa Port, which was approved. He later built facilities for his flour company there. In the 1990s, he approached the Central Bank of Nigeria with the idea that it would be cheaper for the bank to allow his transport company to manage their fleet of staff buses, a proposal that was also approved.
In Nigeria today, Dangote Group with its dominance in the sugar market and refinery business is the main supplier (70 percent of the market) to the country's soft drinks companies, breweries and confectioners. It is the largest refinery in Africa and the third largest in the world, producing 800,000 tonnes of sugar annually. Dangote Group owns salt factories and flour mills and is a major importer of rice, fish, pasta, cement, and fertiliser. The company exports cotton, cashew nuts, cocoa, sesame seeds, and ginger to several countries. It also has major investments in real estate, banking, transport, textiles, oil, and gas. The company employs more than 11,000 people and is the largest industrial conglomerate in West Africa.
Dangote has diversified into telecommunications and has started building 14,000 kilometres of fibre optic cables to supply the whole of Nigeria. As a result, Dangote was honoured in January 2009 as the leading provider of employment in the Nigerian construction industry.
He has said, "Let me tell you this and I want to really emphasise it ... nothing is going to help Nigeria like Nigerians bringing back their money. If you give me $5 billion today, I will invest everything here in Nigeria. Let us put our heads together and work."
Dangote had a prominent role in the funding of Olusegun Obasanjo's re-election bid in 2003, to which he gave over N200 million (US$2 Million). He contributed N50 million (US$500 Thousand) to the National Mosque under the aegis of "Friends of Obasanjo and Atiku". He contributed N200 million to the Presidential Library. These highly controversial gifts to members of the ruling PDP party have generated significant concerns despite highly publicized anti-corruption drives during Obasanjo's second term.
Dangote reportedly added $9.2 billion to his personal wealth in 2013, according to the Bloomberg Index, making him the thirtieth-richest person in the world at the time, in addition to being the richest person in Africa.
Dangote lives in Lagos, Nigeria.
- "Aliko Dangote". Forbes. Retrieved 16 October 2019.
- "Dangote Cement Now Nigeria's Biggest Firm, Invests In S/Africa". P.M. NEWS Nigeria. Retrieved 20 June 2015.
- "The World's Billionaires". Forbes. Retrieved 9 March 2018.
- "Aliko Dangote Profile". Forbes. Retrieved 31 July 2015.
- Nsehe, Mfonobong (5 March 2013). "The Black Billionaires 2013". Forbes. Retrieved 3 May 2015.
- Nweke, Ifeanyi. "What you should know about Dangote". Retrieved 14 July 2015.
- Ilan Bijaoui (2017). Multinational Interest & Development in Africa: Establishing a People’s Economy. Springer. p. 55. ISBN 978-33-1948-914-8.
- Gabriel Edigheji. The Entrepreneur Magazine. Lulu.com. ISBN 978-1-105-9093-20.
- Adekunle (22 March 2014). "Aliko Dangote - a Lesson for African Entrepreneurs". Vanguard. Retrieved 11 July 2014.
- "Aliko Dangote: Things You Never Knew About Him, His Wives and Children - Naija News". naijanews.com. 17 March 2017. Archived from the original on 8 October 2017. Retrieved 8 October 2017.
- "The World's Billionaires: Aliko Dangote". Forbes.com. Retrieved 9 March 2018.
- "Dangote Sugar Refinery Plc (DSR)", Institute of Developing Economies-Japan External Trade Organization. Accessed 26 November 2015.
- "Somalia orders top U.N. official to leave". Reuters. 2 January 2019. Retrieved 2 January 2019.
- "Who Is A Wealthy Man? The Aliko Dangote Story". Nigerian Observer. 23 December 2014. Retrieved 2 April 2015.
- "Group wants Obasanjo prosecuted over Presidential Library donations, others". Premium Times Nigeria. 31 July 2013. Retrieved 2 January 2019.
- "BN Bytes: Genevieve Nnaji, Stephanie Okereke, Amaka Igwe, Aliko Dangote & Jim Ovia receive Honours – Photos from the Ceremony". BellaNaija. 15 November 2011. Retrieved 20 June 2015.
- "Aliko Dangote Racks in $9.2 bn in 2013". BellaNaija. 3 January 2014.
- "Nigeria reports one more Ebola case, 11 in total". reuters.com. Retrieved 20 June 2015.
- "Africa's richest man gives N150m to fight Ebola - Corporate News". businessdailyafrica.com. Retrieved 20 June 2015.
- Reed, Megan. "Nigerian Businessman Aliko Dangote Named Forbes Africa Person of the Year 2014". atlantablackstar.com. Retrieved 28 December 2014.
- James Whittington, "Nigerian wealth fails to trickle down", BBC News, 19 April 2007