The richest man in Africa for several years, Aliko Dangote built his empire in the cement industry. A look back at the career of this Nigerian today ranked in the top 100 of the greatest fortunes in the world.
There are children whose future could be predicted. Born in 1957 in Kano, the second largest city in Nigeria, little Aliko Dangote developed an appetite for trade very early on. Notably because he grew up in a business environment, his grandfather being a successful merchant of grain and goods. Influenced by his ancestor, he buys in his prime youth sweets that he gives to others for them to sell, while keeping the profits. Unsurprisingly, Aliko Dangote is studying business management at Al-Azhar University in Cairo, Egypt.
Making Nigeria self-sufficient
In his twenties and full of ambition, the young man founded Dangote Cement in 1977 thanks to a loan of 500,000 dollars from his uncle. The small company specializes in trading sugar, rice and… cement, a rare – and therefore expensive – product in Nigeria. Quickly, his company prospered, becoming a major player in the importation and distribution of this type of products, enriched by tomatoes and fertilizers. He is even trying to open a bank – a project that stopped due to bankruptcy. The aspiring industrialist still benefits from a geopolitical and fiscal context that he draws in his favor. According to the RTS media, the coup d’état of the military junta and the imprisonment of several businessmen in his country in the 1980s allowed him to extend his influence, while benefiting from tax concessions against funding for electoral campaigns.
In the years 1990/2000, the businessman invests in the local industry and passes from distributor to producer. It thus becomes the largest cement producer in Africa with a capacity of 48.6 million metric tons per year and a presence in 10 African countries. With Dangote Sugar Refinery and Dangote Flour Mills, it dominates the Nigerian food markets, such as sugar, flour, salt, and pasta.
In addition to these businesses, Aliko Dangote has a larger vision: to make Nigeria self-sufficient. It regularly values collaborations with local governments and entrepreneurs and prioritizes the African economy. During a summit at the end of June 2025, this football enthusiast indicated that ‘Africa will be great only by Africans’. “We need to create African groups, transform our resources before exporting them, create value. Otherwise, we will remain dependent and poor”. In addition to trade, the Nigerian finances initiatives related to health, education, and the fight against poverty through the Dangote Foundation.
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Featured photo : © DR
