The wealth of Nigerian billionaire Aliko Dangote has increased by more than $3.7 billion in 2026

The Bloomberg Billionaires Index now estimates Dangote's net worth to be $33.6 billion, which cements his position as Africa's wealthiest person and number 70 in the world.

Dangote's increase of $3.7 billion to his wealth in 2026 alone, places the surge behind that of his countryman, Abdulsamad Rabiu, whose wealth has risen by $5.8 billion, and South African billionaire Nathan Kirsh, whose net worth has gone up by $5.5 billion.

Generally, Rabiu is the third-wealthiest person in Africa with a net worth of $15.9 billion, while Kirsh is fourth with a net worth of $15.2 billion. Both are among the world's 200 richest people.

Refinery contributes to Dangote's wealth surge

The second-richest person in Africa is Johann Rupert and family, with a net worth of $18 billion.

Sixty-five-year-old Rabiu deals in cement, sugar, edible oils, among other fast-moving products, as well as the real estate.

Ninety-four-year-old Kirsh, on the other hand, deals in wholesale food distribution and supermarkets and commercial property development. In late March 2026, he sold his food empire in the United States, Jetro Restaurant Depot, in a multi-billion-dollar deal, which significantly increased his net worth.

While Rabiu and Kirsh have seen their net worth rise in their traditional areas of business, Dangote's increased wealth is largely attributed to his two-year-old business, Dangote refinery, which has been able to sell significant quantities of fuel, both locally and abroad.

Optimal operation

The refinery, constructed in Lagos city at a cost of $20 billion, has seen Nigeria become a net exporter of fuel for the first time in history.

Official data shows that in March 2026, Nigeria exported approximately 44,000 barrels of petrol per day, slightly exceeding imports and, therefore, leaving a surplus.

The 650,000-barrel-per-day Dangote refinery currently operates at optimum, producing petrol, diesel, jet fuel, among other petroleum products.

The fuel is sold to the Nigerian, West African, and overseas markets.

Expansion bid

Besides operating the mega refinery, Dangote also has interests in cement, fertiliser, and sugar manufacturing.

As the billionaire improves his mastery of the petroleum sector, he has set his sights on the East African market, where he recently urged Presidents William Ruto of Kenya and Yoweri Museveni of Uganda to support his vision of opening an equally large oil refinery in the region.

The 69-year-old businessman is also eyeing the oil market in Southern Africa, as well as Ethiopia's fertiliser industry.