Dangote Says His Refinery Alone Is Worth $40 Billion

NIGERIA · ENERGY

Key Facts

—The claim: Aliko Dangote, Africa’s richest man, says his Lagos oil refinery alone is worth more than $40 billion, before any of his other businesses are counted.

—The gap: Forbes has pegged his fortune near $38 billion, and about $32.8 billion at other points in 2026, while Bloomberg put it at $36.7 billion on 8 June 2026.

—Why trackers struggle: Most of Dangote’s empire, from cement and fertiliser to sugar and the refinery, is privately held, giving outside valuers limited visibility.