Africa’s richest man, Aliko Dangote, saw his fortune surge by $497 million in the week ending October 10, 2025, as a strong bull run on the Nigerian Exchange (NGX) lifted the share prices of his listed companies. According to data from the Bloomberg Billionaires Index, Dangote’s net worth jumped from $29.1 billion to $29.6 billion, driven largely by gains in the cement and salt sectors.
The biggest boost came from Dangote Cement Plc, the industrial giant where he holds an 87.45% stake. The company’s shares rallied 9.5% during the week, translating to roughly $497.3 million in added wealth for the billionaire. However, Dangote Sugar Refinery dipped by 1.3%, reducing the value of his holdings by about $4.76 million. The decline was offset by a $4.52 million gain from NASCON Allied Industries, whose stock price rose slightly within the same period.
The recent performance highlights how closely Dangote’s net worth is tied to Nigeria’s stock market and the performance of his industrial empire. Dangote Cement, Nigeria’s largest publicly listed company, continues to serve as a bellwether for investor confidence, reflecting optimism about the country’s industrial expansion and infrastructure growth.
So far in 2025, Dangote’s fortune has grown by about $1.5 billion, thanks to sustained gains across his conglomerate. Year-to-date, Dangote Cement has advanced 20.3%, contributing $970 million to his wealth, while Dangote Sugar is up 88% and NASCON has soared 219%, adding another $78.4 million combined. Analysts say the rally mirrors improved investor sentiment, robust corporate earnings, and the Central Bank’s naira stabilization efforts.
With a total valuation of $29.6 billion, Dangote now ranks as the 76th richest person in the world, according to Bloomberg. His vast portfolio spans cement, sugar, salt, fertilizer, and oil refining — including the $18.6 billion Dangote Refinery, one of Africa’s most ambitious industrial projects. The billionaire’s rising wealth underscores both the resilience of Nigeria’s industrial sector and the renewed bullish momentum on the NGX, even amid inflationary and currency headwinds.
source: business day