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Tag: Aliko Dangote

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Dangote hails First Bank’s Eko Atlantic move as game-changer

The Chairman of Dangote Group, Aliko Dangote, has described First Bank’s decision to build a massive new structure in Lagos’ rapidly developing Eko Atlantic city as a game-changer for Lagos’ financial landscape. Speaking during the groundbreaking ceremony on Tuesday, Dangote, commended the bank for setting a precedent that he believes will inspire other financial institutions […]

S'African billionaire dethrones Dangote as Africa’s richest man
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Electricity woes stalling Nigeria’s industrial growth – Dangote

The President of the Dangote Group, Aliko Dangote, has attributed Nigeria’s industrialization challenges to unstable electricity. He noted that running a business abroad is 30% cheaper than in Nigeria and other African countries due to the reliable power supply in developed nations. Dangote made this remark while hosting Zambia’s Minister of Energy, Makozo Chikote, at […]

News

Dangote’s net worth hits $24bn after refinery’s operations

The Chairman of the Dangote Group, Aliko Dangote has seen his net worth rise to $23.9 billion, positioning him as the 86th richest person globally, according to Forbes. This significant increase is largely attributed to his 92.3% stake in Dangote Petroleum Refinery & Petrochemicals. According to Forbes on Tuesday, Dangote has seen his net worth […]

Dangote speaks to Bloomberg on Arsenal, refinery, fuel subsidy
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$23bn refinery biggest risk of my life – Dangote

The Chairman of Dangote Group, Aliko Dangote, has said that the massive risk he took with the Dangote Refinery, a venture that has redefined his wealth and transformed Africa’s energy sector is the biggest risk of his life. The 67-year-old billionaire revealed that the final investment of the refinery surpassed $20 billion—more than double the […]

News

Dangote-backed investors to acquire Kenyan coffee chain, Java House

A private equity firm backed by Aliko Dangote is preparing to enter Kenya’s food and beverage market by acquiring Java House, a leading coffee chain in the country. Alterra Capital, an Africa-focused private equity fund with Dangote among its key investors, is partnering with Phatisa Group to purchase the restaurant chain from UK-based investment firm […]

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Petrol price cut in response to market conditions – Dangote

The President of Dangote Industries Limited, Aliko Dangote, had stated that the recent reduction in the price of petrol to N899.50 per litre at its loading gantry was primarily influenced by the complex dynamics of market forces. He also explained his responsibility to protect both the interests and investments of the multibillion-dollar company. This was […]

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Dangote asks NNPC, marketers to stop fuel importation, boasts sufficient supply

The Chairman of Dangote Group, Aliko Dangote, has called on petroleum marketers, including the Nigerian National Petroleum Company Limited, to source petrol directly from his refinery to fulfill local demand. This announcement followed closed-door discussions with President Bola Tinubu at the Aso Rock Villa in Abuja. Dangote confirmed the refinery’s capability to produce over 30 […]

S'African billionaire dethrones Dangote as Africa’s richest man
News

Dangote’s wealth doubles to $28bn after refinery launch

The Chairman of Dangote Group, has seen his wealth significantly increase following the launch of his long-awaited Nigerian oil refinery, now valued at $27.8 billion according to the Bloomberg Billionaires Index. However, despite this financial success, Dangote’s demeanor suggests concerns about the operation’s challenges. Dangote told Bloomberg that he wouldn’t wish the experience on his […]

News

Dangote, Grenada’s PM discuss potential Caribbean trade deal

The Chairman and CEO of the Dangote Refinery, Aliko Dangote, recently met with Grenada’s Prime Minister, Dickson Mitchell to discuss a potential trade deal aimed at strengthening trade relations between Nigeria and Grenada, as well as the broader Caribbean region. The meeting occurred on Thursday at the Dangote Refinery’s $20 billion petrochemical plant in Lagos, […]

News

Dangote tells FG to stop crude-for-loan deals

The President of Dangote Group, Aliko Dangote has called for Nigeria to stop mortgaging its crude oil to ensure a stable supply of feedstock for local refineries. Speaking at a summit organized by the Crude Oil Refinery Owners Association of Nigeria in Lagos, Dangote lamented that while countries like Norway are investing oil proceeds into […]

News

We’ve invested over $25bn in Nigeria’s oil, cement, sugar – Dangote

The Chairman of Dangote Group, Aliko Dangote, has stated that that his business conglomerates have invested over $25 billion in Nigeria over the past seven years. This investment spans various sectors, including oil and gas, cement, and sugar. Dangote made this disclosure while speaking on the sidelines of the recently concluded 79th United Nations General […]

News Oil and Gas

Refinery: Dangote calls NNPC’s withdrawal from 20% stake a ‘Big mistake’

The Chief Executive Officer of the Dangote Refinery, Aliko Dangote has criticized the Nigerian National Petroleum Company’s decision to back out of its plan to acquire a 20% stake in the refinery, calling it “a big mistake.” He emphasized the potential benefits of collaboration and the importance of strategic partnerships in driving the country’s economic […]