Richest Men in Nigeria

Richest Men in Nigeria – Although some believe there are other men in Nigeria who are heavily wealthier than Nigeria’s richest man, they decided to hide in the cover due to their source of wealth.

Aliko Dangote is Nigeria’s richest man with an estimated net worth of US$ 13.5 billion dollars as of 2020. He has doubled as the richest black man.

Now here are some things you could love to know about this business mogul:-

1. His Family
Aliko Dangote, a Hausa Muslim ethnic from Kano Province. The son of Mohammed Dangote and Mariya Sanusi Dantata, the daughter of Sanusi Dantata, he was born on 10 April 1957 into a wealthy Muslim family.

His grandfather is Alhaji Alhassan Dantata, who, at the time of his death in 1955, was the wealthiest West African.

2. His Education
At the Sheikh Ali Kumasi Madrasa, Dangote was taught, followed by Capital High School, Kano.
He graduated from Government College, Birnin Kudu, in 1978. He earned a bachelor’s degree from Al-Azhar University, Cairo, Egypt, in business studies and administration.

3. His Business Prowess, Businesses, and ambitions.
In 1977, Dangote Group was founded as a small trading enterprise, the same year that Dangote moved to Lagos to grow the company. Today, with many of its operations in Benin, Ghana, Nigeria, Zambia, and Togo, it is a multi trillion-naira conglomerate. In order to cover food processing, cement production, and freight, Dangote has grown.

The Dangote Group also dominates Nigeria‘s sugar market and is a major supplier to soft drink firms, breweries, and confectioners in the region.

The Dangote Group, including Dangote Sugar Refinery, Dangote Cement, and Dangote Flour, has moved from being a trading firm to being the biggest industrial group in Nigeria.

Dangote approached the Nigerian Ports Authority in July 2012 to lease an abandoned piece of land at the authorised Apapa Port. There he later developed facilities for his flour business. He approached the Central Bank of Nigeria in the 1990s with the idea that having his transport company to handle their fleet of staff buses would be cheaper for the bank, a suggestion which was also accepted.

He also donated money to the Sport Ministry of Nigeria to renovate the Abuja National Stadium.
In Nigeria today, the Dangote Group is the main supplier (70 percent of the industry) to the soft drink firms, breweries, and confectioners of the country, with its supremacy in the sugar market and refinery business. It is the largest refinery in Africa and the third largest in the world, producing 800,000 tons of sugar annually.

The Dangote Group is a major importer of rice, fish, pasta, cement, and fertiliser, and operates salt factories and flour mills. Cotton, cashew nuts, chocolate, sesame seeds, and ginger are exported by the company to many countries. It also has significant real estate, finance, shipping, textiles, oil, and gas investments. More than 11,000 employees are working by the firm.

Dangote has diversified into telecommunications and has begun the development of 14,000 kilometers of fiber optic cables to supply Nigeria as a whole. As a result, Dangote was honored as the leading job provider in the Nigerian construction industry in January 2009.

“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.”Let me tell you this, and I really want to emphasize it…

Nothing will help Nigeria bring their money back like Nigerians. If you give me $5 billion today, I’m going to invest everything here in Nigeria. Let’s put our heads together and work.

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