Dangote Adds Nearly Half a Billion Dollars as Cement and Salt Stocks Fuel NGX Rally
Story: written by okafor joseph october 13,2025
Africa’s richest man, Aliko Dangote, saw his net worth soar by $497 million in the week ending October 10, driven by the impressive performance of his listed companies on the Nigerian Exchange (NGX).
According to data from the Bloomberg Billionaires Index, Dangote’s wealth climbed from $29.1 billion to $29.6 billion within the week, thanks largely to gains in Dangote Cement Plc, where he holds an 87.45% stake.
Shares of Dangote Cement jumped 9.5%, translating to roughly $497.3 million in added value. Meanwhile, Dangote Sugar Refinery recorded a slight 1.3% drop, trimming about $4.76 million from his fortune. However, this decline was offset by a $4.52 million increase from NASCON Allied Industries, which also posted modest growth.
The performance underscores how Dangote’s wealth remains closely tied to the Nigerian stock market, particularly the cement sector — the cornerstone of his business empire.
Dangote’s 2025 Wealth Surge
So far in 2025, Dangote’s fortune has expanded by $1.5 billion, buoyed by the NGX’s bullish momentum and renewed investor confidence. The rally has been supported by robust corporate earnings and Central Bank reforms aimed at stabilizing the naira.
Year-to-date, Dangote Cement shares are up 20.3%, adding about $970 million to his wealth. Dangote Sugar Refinery has gained 88%, contributing $170 million, while NASCON has surged 219%, bringing in another $78.4 million.
With these gains, Bloomberg ranks Dangote as the 76th richest person globally, with his diversified wealth spread across cement, sugar, salt, fertiliser, and oil refining. His crown jewel, the Dangote Refinery, is currently valued at $18.6 billion, while his stakes in other core businesses — Dangote Cement ($5.87 billion), Dangote Sugar ($367 million), and the fertiliser plant ($3.02 billion) — further cement his dominance in African industry.
Despite inflationary pressures and naira volatility, investor confidence in Nigeria’s industrial and manufacturing sectors remains resilient. The NGX rally continues to highlight optimism about the country’s long-term economic outlook — with Dangote once again standing at the centre of it
