Aliko Dangote's Wealth Reaches $54 Billion Amid IPO

Aliko Dangote's estimated wealth has climbed to about $54 billion following the prospectus for the Dangote Petroleum Refinery, which reveals he owns 87.27% of the company. A calculation by Africa valued Dangote's stakes in four companies at N71.46 trillion, equivalent to $53.99 billion, based on an exchange rate of N1,323.55 to the dollar as of September 9, 2026.

This figure surpasses estimates from Bloomberg and Forbes, which valued him at $35.5 billion and $32.5 billion, respectively. The refinery is set to offer 4.1 billion new ordinary shares at N525 each to raise about N2.15 trillion, or $1.63 billion, with the IPO approved by the Securities and Exchange Commission, opening on September 14 and closing on October 13, 2026.

The refinery's financial position has improved, with secured debt reduced to $5.67 billion and a net profit of $1.82 billion in the first half of 2026. Dangote's stake in the refinery is valued at N55.04 trillion, or $41.58 billion.