Nigerian billionaire Aliko Dangote has seen his net worth surge to $23.9 billion, solidifying his position as the richest man in Africa and ranking him 86th in the world. This significant increase in wealth is largely attributed to his 92.3% stake in the Dangote Petroleum Refinery & Petrochemicals, which has been a game-changer for the business tycoon.

Just a year ago, in 2024, Forbes ranked Dangote 144th in the world with a net worth of $13.4 billion. However, with his businesses expanding and his refinery now up and running, Dangote's wealth is expected to continue climbing higher. 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 far above Mike Adenuga, who is the second richest in Nigeria and 481st in the world, with a net worth of $6.8 billion.

Dangote's business empire is built on a foundation of smart and diversified investments. He owns 85% of publicly traded Dangote Cement, a business that produces 48.6 million metric tons annually and operates in ten African countries. In March 2022, his long-anticipated fertilizer plant in Nigeria finally began operations, further expanding his influence in industrial manufacturing and export markets.

The Dangote Refinery, with a capacity of 650,000 barrels per day, has disrupted the global energy market. Experts at OPEC have noted that the refinery could disrupt the long-standing $17 billion-per-year gasoline trade from Europe to Africa, marking a historic shift in global energy flows. The refinery is already making waves in the global energy market, with Nigeria's petroleum imports set to hit their lowest level in eight years, disrupting European refiners that have long supplied the country.

Additionally, S&P Global reports that Nigeria has now become a net exporter of jet fuel, naphtha, a key ingredient in varnishes, laundry soaps, and cleaning fluids, and fuel oil. This significant shift in the global energy market is expected to have far-reaching implications for the industry as a whole.

Dangote's success is not limited to his business ventures. He has also been vocal about his battle against the "oil mafia" and has detailed his struggles in the industry. His rags-to-riches story is an inspiration to many, and his continued success is a testament to his hard work and determination.

In conclusion, Aliko Dangote's net worth surge to $23.9 billion solidifies his position as the richest man in Africa and cements his status as a business tycoon. His diversified investments, smart business moves, and determination have made him a force to be reckoned with in the global energy market. As his empire continues to expand, it will be interesting to see the impact he has on the industry and the African economy as a whole.