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Tag: Dangote

Aliko Dangote Becomes First African To Reach $30 Billion Net Worth

Dangote Exposes Fake Linkedln Account

Wale busari01 mins

Africa’s richest man and President Dangote Group, Alhaji Aliko Dangote has drawn the attention of the general public a fake Linkedln account in his name and profile. Dangote Group on behave of their President on Monday made this disclosure on Twitter now X. “This LinkedIn handle “Aliko Dangote (PDG chez Dangote Cement)” is not in any way connected with the President/CE Dangote Industries Limited, Aliko Dangote, Dangote Cement, Aliko Dangote Foundation and other Business Units. “We strongly advise the public to ignore and report this fake profile. For verified information and updates, please refer only to the official pages.”

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Aliko Dangote Becomes First African To Reach $30 Billion Net Worth

Aliko Dangote Becomes First African To Reach $30 Billion Net Worth

Wale busari03 mins

Aliko Dangote, Africa’s richest man, has officially reached a net worth of $30 billion as of October 23, 2025, according to Bloomberg’s Billionaire Index. The milestone reflects a $2.16 billion increase in his wealth this year, including a recent $430 million valuation gain. Just days earlier, Dangote’s fortune stood at $29.8 billion, only $200 million shy of the $30 billion mark. The surge is largely driven by the expansion of his industrial ventures, particularly the completion of a $160 million cement plant in Attingué, about 30 km north of Abidjan, Côte d’Ivoire. Spanning 50 hectares with an annual production capacity of three million metric tonnes, the facility is one of Dangote Cement’s largest outside Nigeria. With this addition, the company’s total installed capacity across Africa now reaches approximately 55 million tonnes per year across 11 countries. Dangote is also focusing on the oil sector, planning to more than double refining capacity to 1.4 million barrels per day, which would surpass the output of the world’s largest refinery in Jamnagar, India. Reports indicate that Dangote Refinery may sell 5–10% of its shares on the Nigerian Exchange (NGX) within the next year. Since the launch of the $20 billion Dangote Oil Refinery in May 2023—which began operations in October 2023 with a daily production capacity of 370,000 barrels of diesel and jet fuel—Dangote’s fortune has seen significant growth. Shortly after the refinery’s commissioning, Bloomberg ranked him the 81st richest person globally with a net worth of $20.4 billion. Although he briefly lost the title of Africa’s richest person to South African billionaire Johann Rupert in early 2024, Dangote quickly reclaimed the top spot, surpassing $20 billion by late January 2024. Despite mid-2024 fluctuations, his net worth climbed to $27.8 billion by year-end and $29.3 billion by August 2025, before finally crossing the $30 billion threshold this October. Dangote’s rise highlights his growing influence across Africa’s industrial sector—from cement to oil refining—solidifying his position as the continent’s wealthiest individual and one of its most transformative business leaders.

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Dangote Group Denies Involvement In Fatal Akungba-Akoko Truck Crash

Dangote Group Denies Involvement In Fatal Akungba-Akoko Truck Crash

Wale busari03 mins

The Dangote Group has denied claims that one of its trucks was involved in the fatal accident in Akungba-Akoko, Ondo State, which claimed eight lives. The crash, confirmed by the Federal Road Safety Corps (FRSC), involved a truck and a commercial bus in Akoko South-West Local Government Area. FRSC’s Public Education Officer in Ondo, Abiola Fadumo, stated that the collision led to multiple fatalities. In a statement on Thursday via its official X (formerly Twitter) account, Dangote Group clarified that the truck with Plate No. JJJ 365 XB is not owned by the company or any of its subsidiaries. The company said registration records show the vehicle belongs to an independent logistics firm unconnected to Dangote Group. The truck was reportedly carrying crushed stones packed in reused sacks with various brand names, and not any Dangote products. “For the avoidance of doubt, the truck was not conveying any Dangote products but was transporting crushed stones in reused sacks bearing various brand names,” the statement read. Dangote Group emphasized that its trucks are easily identifiable with distinct company markings and fleet numbers and are operated only by trained personnel under strict safety and regulatory compliance protocols. While expressing condolences to the victims and their families, the company urged the public and media to verify information before linking any accident or vehicle to Dangote. It also warned against using images of Dangote-branded trucks in unrelated news reports. “Dangote Industries remains steadfast in its commitment to road safety, regulatory compliance, and responsible corporate citizenship across all its operations in Nigeria and beyond,” the statement concluded.

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Eight Confirmed Dead As Dangote Truck Loses Control in Ondo State

Wale busari03 mins

A tragic accident on Wednesday night claimed the lives of eight people, including five men, two women, and a young boy, in Akungba-Akoko, Ondo State. The crash occurred near Adekunle Ajasin University in the Akoko South West area of the state. The Ondo State Sector Commander of the Federal Road Safety Corps (FRSC) confirmed the incident, stating that it happened around 7:30 p.m. and involved a truck loaded with stone dust and a motorcycle. The truck reportedly lost control and rammed into a barricade situated in front of the university. He urged motorists to always exercise caution, especially during the “ember months,” and to ensure their vehicles are in good condition before any trip. The bodies of the victims have been taken to a nearby hospital morgue. According to Mosadoluwa Ajidagba, the Public Relations Officer of the Adekunle Ajasin University Students’ Union Government, the truck belonged to Dangote Cement. Ajidagba explained that the vehicle was coming from Ikare towards Akungba when its brakes failed, causing it to crash into the barricade at the university gate. He said about ten people died in the crash and noted that the Students’ Union had long appealed for a ban on heavy-duty trucks passing through the area. He urged students to remain calm, avoid the accident scene, and stay away from the main highway for safety reasons. In his reaction, the Executive Chairman of Akoko South West Local Government, Ayo Ajana, described the incident as heartbreaking and extended condolences to the victims’ families and the entire community. Ajana promised to work with relevant agencies and authorities to implement lasting safety measures at the accident-prone location and other high-risk areas across the council.

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Cooking Gas Price Jumps to N25,000 as Supply Disruptions Hit

Wale busari03 mins

The cost of refilling a 12.5kg cylinder of Liquefied Petroleum Gas (LPG), also known as cooking gas, has surged to N25,000 this week, up from N17,500 last week. Mr. Bassey Essien, Executive Secretary of the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM), told Vanguard that the spike was due to supply disruptions caused by the recent industrial action by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN). “Dangote Petroleum Refinery is currently the largest local supplier of cooking gas in Nigeria. The PENGASSAN strike disrupted distribution, leaving many dealers unable to replenish their stocks,” Essien explained. “What we are seeing is a result of demand exceeding supply, but supply should stabilize in the coming days now that the dispute is being resolved.” Vanguard checks revealed that several gas plants in Lagos and surrounding areas were shut down due to shortages, forcing consumers to move from one outlet to another in search of LPG. Recently, Aliko Dangote, President of the Dangote Group, disclosed that the refinery is currently producing 2,000 tonnes of LPG per day, with plans to further increase output to meet national demand. Dangote also emphasized the need to transition Nigerians from firewood and kerosene to LPG for cooking. “If distributors are not making LPG affordable and accessible, we’ll sell directly to consumers to ensure more households can switch to clean energy,” Dangote said, noting concerns over Nigeria’s energy poverty. Before the Dangote Refinery ramped up production, the nation’s LPG demand was primarily met by NLNG Limited. In a recent statement, NLNG reiterated its commitment to providing clean and reliable energy to Nigerian homes through its Domestic LPG (DLPG) scheme, which has been supplying cooking gas since 2007.  

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PENGASSAN Signals Possible Strike If Dangote Refinery Workers Are Not Reinstated

PENGASSAN Signals Possible Strike If Dangote Refinery Workers Are Not Reinstated

Wale busari03 mins

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has clarified that it did not sign the communiqué that ended its recent strike at Dangote Refinery, leaving the door open for possible further action if its demands are not met. PENGASSAN president Festus Osifo, speaking on Channels Television’s The Morning Brief on Thursday, said the document presented at the government-mediated meeting was not an agreement. “If you see that communiqué, we did not sign it. Normally, it is supposed to be signed by three parties. We did not sign because some provisions were not acceptable to us,” he explained, noting that the statement was simply a communication from the Minister of Labour and Employment, who acted as chief conciliator. Osifo emphasized that the union’s priorities were focused on ensuring the safe return of its members to work, countering claims that the strike was only about check-up dues. “Our main concern is how our members would return to the refinery and provide for their families,” he said. He also addressed Dangote’s refusal to immediately reinstate the affected workers, highlighting that government intervention was necessary to push for a compromise. The union president dismissed allegations that the sacked employees had sabotaged the refinery, calling such claims “totally incorrect” and warning that allowing such a label could have permanently harmed the 800 affected workers’ future employment prospects. “Clearing that stigma was a major victory,” Osifo said. “But if Dangote does not do the needful, our tools are always available. We will never tire in the struggle for what is right. PENGASSAN has been defending workers for over 50 years, long before the refinery came on stream.” The union’s statement underscores the possibility of renewed industrial action should Dangote Refinery fail to comply with its demands.

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Dangote Refinery Denies Mass Sack Claims Cites Sabotage in Internal Shake-Up

Fola Badmus01 mins

The Dangote Petroleum Refinery has refuted reports of a “mass sack” following the circulation of a leaked internal memo, clarifying that the ongoing internal reorganisation is a strategic move to protect the facility from repeated acts of sabotage. In an official statement released on Friday, September 26, the refinery’s management described the restructuring as a necessary step to preserve the safety, integrity, and stability of what it called a “strategic national asset.” “The decision was taken in the best interest of the refinery,” the statement read, citing intermittent sabotage across operational units that had posed serious safety risks and disrupted critical operations. The management stressed that the action was not arbitrary or punitive but rather a targeted response to threats affecting operational efficiency. The company reaffirmed its commitment to the safety of its workforce and the continuation of its mission to meet Nigeria’s and Africa’s growing energy demands.

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Dangote Refinery Appoints David Bird as CEO of Petroleum, Petrochemicals Division

Fola Badmus03 mins

By Kamal Yalwa: August 2, 2025 The Dangote Petroleum Refinery and Petrochemicals has appointed David Bird as the new Chief Executive Officer (CEO) of its petroleum and petrochemicals business. The appointment, which took effect in July 2025, was first reported by S&P Global on Friday. Bird’s arrival comes as the refinery seeks to scale up operations, resolve production challenges, and roll out an ambitious nationwide fuel distribution scheme already facing significant regulatory and logistical hurdles. A source at the company told TheCable that Bird is a mechanical engineer and an alumnus of Imperial College, London, with an MBA from Stanford University. He brings extensive global experience in the oil and gas industry. Prior to this appointment, Bird served as the head of Oman’s Duqm Refinery, and also held senior roles at Santos Ltd and Shell, including Vice President of Prelude FLNG, where he led operations on the world’s first floating LNG facility. He also chaired Shell Australia’s RAP board and headed operations at Shell’s largest refinery in Singapore — Pulau Bukom. Aliko Dangote, Chairman of Dangote Industries Limited, will continue to serve as chairman of the refining business while retaining his role as CEO of the broader Dangote Group, which spans cement, fertilizer, and sugar refining operations. In a LinkedIn post cited by S&P Global, Bird stated that his focus will be on driving maximum output, operational efficiency, and expanding Dangote’s market presence beyond Nigeria and into the wider African continent. His appointment marks a pivotal phase for the 650,000 barrels per day refinery, which has been gradually ramping up output since its commissioning by former President Muhammadu Buhari in May 2023. The refinery is expected to commence fuel distribution to end-users by August 15, 2025, using a fleet of 4,000 CNG-powered trucks, further positioning itself as a critical player in Africa’s energy landscape.

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