By Abubaker Yunusa
Africa’s richest man, Aliko Dangote, has seen his fortune soar to a record $36.7 billion, further cementing his position as the wealthiest black person in the world and the richest individual on the African continent.
Real-time data from Bloomberg showed that Dangote’s net worth climbed sharply on the back of the growing success of his businesses, particularly the $20 billion Dangote Refinery in Lagos and the continued strong performance of Dangote Cement.
The refinery, described as one of the largest single-train facilities in the world, has emerged as a major contributor to Nigeria’s economy, helping the country become a net exporter of petroleum products for the first time in decades.
Industry reports indicated that Nigeria now records net petroleum exports of about 44,000 barrels per day to regional markets.
The refinery has also expanded its footprint across West Africa, supplying refined petroleum products to countries including Côte d’Ivoire, Cameroon, Ghana, Togo and Tanzania.
Analysts said the development has increased foreign exchange earnings for the Dangote Group, shifting much of its revenue inflow from local currency to hard currencies.
The company is also preparing to list the refinery on the stock market through an Initial Public Offering before the end of the year.
The planned IPO is expected to unveil billions of dollars in market value and further strengthen the industrial giant’s standing in global financial markets.
In another major move, Dangote Industries recently signed a $400 million agreement with leading engineering firms for an expansion project aimed at doubling the refinery’s operational capacity by 2029.
The billionaire businessman is also pursuing an $11.5 billion industrial programme that will see the production of linear alkyl benzene, a key raw material used in detergent manufacturing.
Dangote Cement, one of the flagship companies within the conglomerate, has continued to deliver strong financial results.
The company reportedly doubled its profitability and recorded a profit of more than N1 trillion in a single financial year.
Its shares have risen by about 162 per cent over the past 12 months, making it the most valuable company on the Nigerian Exchange with a market valuation of N20.1 trillion.
Observers attributed the performance to the growing demand for building materials across Africa and the company’s dominant position in the cement market.
Beyond Nigeria, Dangote has intensified expansion plans across East Africa.
He has pledged to lead an international consortium to establish a major crude oil refinery in Tanga, Tanzania, with discussions already involving the governments of Kenya, Uganda and Tanzania.
The project is expected to take between four and five years to complete.
The Group Chief Executive Officer also disclosed plans for a separate refinery dedicated to serving East Africa as part of the company’s broader target of achieving a global refining capacity of 2.1 million barrels per day.
In Ethiopia, Dangote Group, through a joint venture with Ethiopian Investment Holdings, is constructing a $2.6 billion fertiliser plant in the Gode area of the Somali region.
The facility is expected to produce three million metric tonnes of urea annually and significantly boost food security across the region when it becomes operational in 2029.
The project is backed by a $4.3 billion gas supply agreement with Chinese energy giant GCL Group.
Meanwhile, Dangote is also moving to establish a family office in Dubai to manage international investments, preserve wealth and shield assets from currency volatility in sub-Saharan Africa.
Economic analysts said Dangote’s rise demonstrates the potential of large-scale industrialisation in Africa, noting that the businessman’s focus on local production and value addition has enabled his companies to maintain strong growth despite global economic challenges.
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NIGERIA CUSTOMS HAS BEGINS ONLINE AUCTIONING OF SEIZED VEHICLES,OIL, RICES
LAPTOPS, GENERATOR'S, FRIDGE, TELEVISION, CONTAINERS, PHONE, MOTORCYCLE,KEKE TRICYCLE, BALE OF CLOTHES, NDUSTRIAL SEWING MACHINES CEMENT….Granting Nigerians the Privilege to Own any ITEMS at Affordable prices.
INSTALLMENTAL PAYMENT IS FULL ALLOWED WITH A MINIMUM PERIOD OF 3 MONTHS AND A MAXIMUM PERIOD OF 9 MONTHS!!! THIS PERIOD IS ONLY APPLICABLE FOR VEHICLES THANKS FOR YOUR PATRONAGE.
INTERESTED BUYERS SHOULD
CONTACT THE STATE AUCTIONEER.
CUSTOM OFFICER GABRIEL ESHIEMOMOH VIA :- O80✓6739✓9O9O
RICE AVAILABLE FOR SALES ARE :-
Royal umbrella=18,000
Mama Gold=20,000
Royal stallion=18,000
Rising sun=18,000
Special rice=18,000
Mama Africa=18,000
Elephant Gold=18,000
Caprice =20,000
Gallon of oil =9,500
NOTE: TRANSPORTATION CHARGES IS (#1000) which must be paid before we ensure your delivery.
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SOME CAR LIST BELOW.
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TOKUNBO CARS BELOW :�
2008 Corolla Sport 1m
2010 Corolla Sport 1.970m
2012 Corolla Sport 2.980m
Awoof 2009 Lexus RX350 1.5m
2013 Camry XLE – Back Vent AC – V4 – 1.580m
2001 Camry N280k
2003 Camry N520k
2005 Camry LE .680k
2015 Matrix 1.7m
2008 Toyota Camry 1.3m
2012 Camry Sport 2.850m
2014 Rav4 Sport N2.8m
2016 Honda pilot EX 2.4m
2012 Benz E320 N2.4m
1999 Sienna 150k
2006 Lexus RX300 1m
Pegeout 406 Manual AC 720k
2012 Honda CRV EX 2.850m
O15 Honda Accord 2million
2011 Corolla XLE – Alloy + Formica 2.850m
2015 Toyota LandCruiser 3m
2010 Corolla LE 1.8m
2016 RX350 4.1m with Mouse
2018 RX350 5.8m with mouse
202O Toyota Tacoma 6.8m
2013 Avalon Thumbstart 2.5m
2012 Avalon key 2.1m
2012 Pointiac Vibes 2.8m
2011 Benz E230 N2.4m
2017 Sienna CE 2.980m
2016 Sienna XLE 2.550m
2016 Corolla Sport 3.5m
2010 Camry LE 2.350m
2011 Camry LE 2.4m
2018 Lexus GX460 5.4m
2015 Lexus ES350 .4m
2010 Corolla Manual N1.580m
2018 Acura MDX 4.6m
018 Benz C300 3m
017 Benz GL450 5.3m
2018 Benz GL550 5.8m
OI8 Benz GLS 3.8M
2O2O Benz Gls 4.6mill
2006 Rav4 .850k
Awoof 08 Pilot N.750k
2008 Pilot 800k EX
2009 Highlander sport 2.8m
2018 Highlander Limited 3.2m
2012 Rav4 EX Rev Camera + Thumbstart@ 2m
08 Honda Accord N890k
2012 Camry XLE .2m V4
2013 Honda Accord 2.m
2015 Honda Accord N3m
2013 Matrix N1m80k
2012 Honda CRV 900k
2003 Honda Element 550k
2008 Camry 990k
2016 Honda Ridgeline 2.6m
2014 Camry LE 2.750m
2013 Ford Edge SEL 2.9m
2014 Ford Edge SEL .3m
Fresh like toks 2013 Benz E200 N3m
2012 Rav4 1.9m
2014 Kia Cerato 2.m
2015 Benz GLK350 3.5m
2015 Range Rover evogue 6.650m
OI8 Range Rover evogue 8mill
2O2O Range Rover evogue 10m
OI8 Range Rover sports 6.8M
2006 Quest 850k
2008 Kia Rio 800k
2012 Camry Xle 1.680m
O12 Venza .2million
2O22 GX460-N8M
2O14 Venza 3M
2O18 Corolla N6m
O2O LandCruiser 6m
2OI8 LandCruiser 3.9mill
2O2O Prado N5.2m
2OI8 Prado 4mill
2O20 Rav4 N6.2M
2O20 g-wagon N35M
2O21 Hilux 6.8M
OI8 HILUX 3.6m
2O18 Bus 5.850M
Tipper Head 8M
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