Headlines
Forbes: Aliko Dangote’s wealth surges by almost 100% to $23.9bn, now 86th richest in the world
Nasiru Yusuf Ibrahim
Billionaire Aliko Dangote has seen his wealth nearly double to $23.9 billion, according to Forbes, which ranks the Nigerian entrepreneur as the wealthiest person in Africa and 86th in the world. It would be recalled that Forbes ranked Aliko Dangote as the 144th richest person in the world in 2024 with $13.4 billion.
KANO FOCUS reports that Forbes estimates Dangote’s net worth at $23.9 billion, primarily due to his 92.3 percent stake in Dangote Petroleum Refinery & Petrochemicals. At 67 years old, Dangote is once again one of the top 100 richest individuals worldwide, a position he has not held since 2018, according to the Forbes Real-Time Billionaires List.
This places him significantly ahead of South African Johann Rupert, who is ranked 161st in the world with an estimated wealth of $14.4 billion and very far above Mike Adenuga, who is the second richest in Nigeria and 481, in the world, with a net worth of $6.8 billion.
Dangote disrupted the government’s oil monopoly by constructing the largest petroleum refinery in Africa. After 11 years, a $23 billion investment, and numerous challenges, the Dangote Refinery began operations last year. Located on a vast 6,200-acre site in the Lekki Free Zone, the refinery, at full capacity, will process a remarkable 650,000 barrels per day (b/d), making it the seventh-largest refinery in the world and the largest in Africa. Additionally, the refinery’s adjacent petrochemical complex has an annual production capacity of 3 million metric tons of urea, making it Africa’s largest fertiliser producer.
The Dangote Refinery is already having a significant impact on global energy markets. Imports of petroleum into Nigeria are on track to reach an eight-year low, affecting European refiners that have traditionally sold to Nigeria, according to energy intelligence firm Vortexa. Furthermore, Nigeria has become a net exporter of jet fuel, naphtha (a solvent used in varnishes, laundry soaps, and cleaning fluids), and fuel oil, according to S&P Global.
Dangote sees the refinery as part of a larger vision to transform Nigeria, one of the world’s largest crude oil producers, into a major producer of refined petroleum products. This would enable Nigeria to compete with European refineries and supply gasoline to Nigerian consumers.
“I want to provide a blueprint for industrialisation across Africa,” Dangote says in an interview with Forbes. “We have to build our nation by ourselves. We have to build our continent by ourselves, not [rely on] foreign investment.” He believes Africa has long been “a mere dumping ground for finished products,” and his refinery represents “a pivotal step in ensuring that Africa can refine its own crude oil, thereby creating wealth and prosperity for its vast population.”
Dangote said the refinery is the biggest risk of his life and without success, it would have affected him greatly.
“It was the biggest risk of my life,” says Dangote about his decision to embark on the project. “If this didn’t work, I was dead.”
Zainab Usman, director of the Africa Programme at the Carnegie Endowment for International Peace, according to Forbes, said Nigerians see Dangote as a hero and a real industrialist transforming the country.
“He is seen in most parts of Nigeria as a hero. He is seen as a real industrialist who builds things,” she said.
A professor of African studies at the Soka University of America, Chika Ezeanya, also corroborated this view, noting that Dangote is meeting the needs of consumers on the continent.
“I think he’s believed staunchly in the fact that Nigerians need products that he has to offer,” he said while adding, “Governments can come and go, policies can be changed, but the needs of the Nigerian consumer will only grow and expand.”
Nasiru Yusuf Ibrahim
Nigeria’s Vice President, Kashim Shettima, on Tuesday received a delegation from the Association of Kano Business Community at the Presidential Villa, Abuja, during a thank-you visit to President Bola Ahmed Tinubu.
KANO FOCUS reports that the delegation expressed appreciation to the Federal Government for its support to traders and other victims affected by the recent fire incident that razed several sections of the popular Singer Market in Kano.
Speaking during the meeting, the Vice President reaffirmed the Federal Government’s commitment to collaborating with the Kano State Government and relevant agencies to prevent a recurrence of fire outbreaks in markets across the state.
He assured the delegation that President Tinubu has the interests of Kano people at heart, noting that the N5 billion approved as immediate relief for victims was based on the findings of a preliminary assessment of the damage caused by the inferno.
Shettima reiterated that the Federal Government would continue to support efforts aimed at restoring commercial activities and strengthening safety measures in markets to protect lives and property.
Nasiru Yusuf Ibrahim
The Kano State Government has inaugurated a 23-member committee to oversee the transparent and equitable distribution of financial assistance and relief materials to victims of the recent Singer Market fire disaster.
KANO FOCUS reports that the inauguration was carried out on behalf of the Secretary to the State Government, Umar Faruq Ibrahim, who chairs the committee. The event was presided over by the state Attorney-General and Commissioner for Justice, Abdulkarim Kabiru Maude.
According to the Attorney-General, the committee comprises representatives from key government agencies, security services, the Kano Emirate Council, religious leaders, and affected traders.
He said the panel’s mandate includes assessing the extent of losses, verifying genuine victims, ensuring timely distribution of support, and recommending measures to prevent future fire incidents.
The intervention follows support approved by President Bola Ahmed Tinubu, as well as contributions from the APC Governors Forum. It also comes in addition to earlier assistance provided by Governor Abba Kabir Yusuf and the Deputy Senate President, Barau I. Jibrin.
The state government reaffirmed its commitment to supporting victims of the disaster and restoring commercial activities at Singer Market.
Nasiru Yusuf Ibrahim
The Kano State Government has announced Saturday, March 1, 2026, as the commencement date for the Eid-el-Fitr break for all public and private primary and post-primary schools in the state.
KANO FOCUS reports that the announcement, contained in the approved 2025/2026 academic calendar, applies to both day and boarding schools across the state.
According to a statement issued by the Director of Public Enlightenment, Musbahu Aminu Yakasai, parents and guardians of pupils and students in boarding schools are expected to convey their wards home by the early hours of Friday, February 28, 2026.
The statement further explained that boarding school students are to resume on Sunday, March 22, 2026, while day students are to resume on Monday, March 23, 2026.
It added that the second term will continue from Sunday, March 22, 2026, and end on Saturday, April 18, 2026.
The government directed all public and private schools in the state to comply strictly with the directive, warning that non-compliance would be treated as a breach of government instructions.
The Commissioner for Education, Ali Haruna Abubakar Makoda, urged parents and guardians to ensure full compliance with the approved resumption dates.
He appreciated parents and residents of the state for their continued cooperation and support to the ministry, and wished pupils and students a successful completion of the Ramadan fast and hitch-free Sallah celebrations.
Kano business community thanks FG for N5bn Singer market relief
Kano Govt inaugurates 23-member committee to disburse Singer market fire relief
Kano Govt announces March 1 for schools’ Ramadan break
NCC board chair hosts licensed telecoms operators in Lagos
Stakeholders seek stronger nutrition financing at local government level
Lami Maccido, first person to appear on screens of NTA Kano, CTV 67, dies at 72
Governor Yusuf Appoints Acting DG for Pilgrims Board, Names Provost for Anti-Corruption Institute
Kano govt investigates reported disease outbreak in Garko community
K-SAFE appeals to Kano Executive Council to pass revised education bill
