Aliko Dangote, Africa’s richest man, lost $397 million in a single day after shares in Dangote Cement dropped on the Nigerian Stock Exchange.
The loss followed Wednesday’s close of Dangote Cement at N480.00 per share. This dip significantly affected Dangote’s net worth, bringing it down to $23.2 billion.
Despite the decline, he remains 84th on the global billionaire ranking, as tracked by Forbes’ real-time list.
Dangote Cement is Nigeria’s largest cement producer and among the most actively traded equities on the Nigerian Stock Exchange.
Between January and April 2025, the company saw more than 25 million shares exchanged across 15,000 deals.
The total transaction value hit N10.8 billion. With an 86% ownership stake in the company, Dangote’s personal finances are closely tied to its market performance.
However, cement is just one pillar of his vast industrial empire. His investments span multiple sectors, with his crown jewel being the Dangote Oil Refinery — a $20 billion project that began operations in early 2024.
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Touted as Africa’s largest refinery, it is designed to reduce Nigeria’s reliance on imported petroleum products and transform the continent’s energy supply chain. Dangote owns a commanding 92.3% stake in the project.
He also operates one of Africa’s largest fertilizer plants, with the capacity to produce 2.8 million metric tons of urea annually.
Even at half capacity, independent analysts project the plant as a critical driver of economic growth using net present value methodology.
His portfolio also includes interests in publicly traded firms such as Dangote Sugar, Nascon Allied Industries, and United Bank for Africa, alongside private ventures in food processing, packaging, and agriculture.
These assets are managed through Dangote Industries, the flagship investment arm of his group.
While the day’s loss is significant, it is far from crippling. Dangote’s long-term industrial vision remains focused on driving Africa toward economic independence, infrastructure development, and self-sufficiency.
Crediblenewsng.com
