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Black Thursday

Rostrum The ancient narrow pathway had become so bad that they could not find their way to their destination as the three moved in a grey Honda Sport Utility Vehicle (SUV) being piloted by Dayo who was very mindful of the steering. It was on a Thursday. The 35-year-old Misters Dayo, Emeka and Okon were old time friends who reunited just a few days ago at Nsukka in Enugu State having lost contacts about eight years back, or thereabouts, after their graduation from one of the reputable higher citadels of learning in Nigeria situated in the Eastern part of the country, precisely University of Nigeria Nsukka popularly known by its acronym ‘U.N.N’. What occasioned the long-awaited reunion was the convention of their alma-mater’s alumni body themed ‘The homecoming of UNN Alumni’, which usually held once in a blue moon. Though they never studied in the same department, they were conspicuously best of friends during their school days that people within bega...

Dangote reaches $30bn Net Worth

RostrumNews
The Nigerian billionaire and industrial magnate, Aliko Dangote has reportedly emerged the first African billionaire to reach a net worth of $30 billion,

This was according to the latest Bloomberg Billionaires Index.

The milestone follows a $430 million surge in his portfolio, capping a year of remarkable growth that added over $2.16 billion to his fortune.

This development sealed his long-standing position as Africa’s richest person and underscores the strength of his vast industrial empire spanning cement, sugar, flour, and oil refining.

“This isn’t just a personal win for Dangote it’s a defining moment for African industry,” said Ngozi Okonjo-Iwela, an analyst at Afrinvest.

“He has proving that value-added manufacturing can rival resource extraction as a source of African wealth.” She opined.

A key driver behind the jump was the recent $160 million Dangote Cement plant in Attingué, Côte d’Ivoire, which adds three million tonnes of annual capacity to his pan-African network. The group now controls about 55 million tonnes of installed cement capacity across 11 countries.

However, the Dangote Petroleum Refinery remains the real game-changer. Since operations began in late 2023, producing roughly 370,000 barrels per day, the refinery has reshaped the regional energy market and dramatically lifted Dangote’s valuation.

After market turbulence in 2024 saw his net worth swing from $9.5 billion to $27.8 billion, stabilization of the refinery’s output fueled his return to the global billionaire elite.

Dangote now plans to expand the facility to 1.4 million barrels per day, a move that could make it the largest single refining complex in the world and list up to 10 percent of its shares on the Nigerian Exchange.

From trading commodities decades ago to building a multi-sector powerhouse, Dangote’s path to $30 billion reflects relentless ambition and strategic vision.