“To build a successful business, you must start small and dream big.” These are the words of Aliko Dangote, Africa’s richest man who has continued to transform Africa’s economy by shifting the continent from an importer of basic goods and fuel into a self-sustaining industrial producer and regional exporter.
Mr. Dangote, the founder and CEO of the Dangote Group, was born on April 10, 1957, in Kano City, Northern Nigeria. He was raised in a Hausa Community by his parents, Mariya Sanusi Dantata and Mohammed Dangote. His father was a businessman who owned a transport company, while his mother was also a business woman and a philanthropist from a wealthy trading family in Kano.
In 1965, when Dangote was eight years old, he lost his father and was raised by his maternal grandfather, Alhaji Sanusi a commodities trader, alongside his maternal uncle, Usman Amaka Dantata.
Dangote’s maternal ancestors were successful caravan traders during the colonial era and being raised by his grandfather he was able to develop the desire of becoming an entrepreneur.
At an early age, while still in school, Aliko would buy sweets with his pocket money and resell them for a profit. This early business gave him an understanding of trade, margins and how profit is made.
After completing his studies in Al-Azhar University in Cairo where he earned a Bachelor’s degree in Business Studies and Administration in 1977, he returned to Lagos, Nigeria to pursue business.
Although he did not have capital to start a business, his uncle gave him a loan that enabled him to trade commodities and business supplies. By 1981, his firm became successful and he established the Dangote Group. Some of the businesses he was able to venture into included, cement company, sugar refinery, flour mills among others. His businesses have been thriving since extending their operations to other African Countries.
In 2013, Dangote was involved in the construction of an Oil refinery in Lagos, Nigeria. This project came about because Nigeria was importing refined petroleum products despite being a leading oil-producing petroleum country.
After several years of development, the oil refinery was commissioned in May 2023, reaching its full operating capacity in 2026 with plans for future expansion.
Over the years, Dangote has been recognized as a successful businessman with an estimated net worth of $5.1 billion. He believes that Africans are the only people who can change the continent’s economy by investing in local industries, processing raw materials and fostering complete self-reliance.
He has also received numerous awards and honours from his contributions to economic development and humanitarian efforts. In 2011, he was made a Grand Commander of the Order of Niger (GCON), Nigeria’s second highest order. Other honours include Grand Commander of the National Order of the Republic of Benin (2013), Commander of the National Order of Valour of Cameroon (2021), and Commander of the Oder of Merit of Niger (2022).
Currently, Dangote is advancing plans to build a massive oil refinery in Kenya designed to process 700,000 barrels of crude oil for the East African region, a project planned for completion around 2030.
APERIT FM, HII NI YETU
