Aliko Dangote, Africa’s richest man, has seen his fortune surge as his long-awaited oil refinery in Nigeria finally becomes operational. Yet, despite the achievement, his outlook suggests the challenges ahead could dampen the celebration.
The Dangote Refinery, situated near Lagos, is the largest single-train refinery in the world and one of the most advanced. Capable of processing a wide range of crude types, it holds the potential to revolutionize Nigeria’s economy by reducing its reliance on fuel imports. This massive project has more than doubled Dangote’s wealth to $27.8 billion, as reported by the Bloomberg Billionaires Index.
