Aliko Dangote biography
Aliko Dangote MFR, GCON is a Nigerian billionaire businessman, and the owner of the Dangote Group, which has interests in commodities in Nigeria and other African countries. As of January 2020, he had an estimated net worth of US$10 billion.
Full Name: Aliko Dangote
Born: 10 April 1957
Birth place: Kano, Kano State, Nigeria
Residence: Lagos, Nigeria
Education: Capital High School, Kano
Alma mater: Al-Azhar University, Cairo
Famous as: Chairman and CEO, Dangote Group
Years active: 1977—present
Known for: Richest person on the African continent (2019)
Net worth: US$10 billion (January 2020)
Children: 3 daughters 1 adopted son
Biographical and family background
Aliko Dangote, an ethnic Hausa Muslim from Kano, Kano State, was born on the 10th of April 1957 into a wealthy Muslim family, the son of Mohammed Dangote and Mariya Sanusi Dantata.
He is the great-grandson of Alhaji Alhassan Dantata, the richest West African at the time of his death in 1955.
Aliko Dangote has said:
“I can remember when I was in primary school, I would go and buy cartons of sweets [candy] and I would start selling them just to make money. I was so interested in business, even at that time.”
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Aliko Dangote was educated at the Sheikh Ali Kumasi Madrasa, followed by Capital High School, Kano.
He has a bachelor’s degree in business studies and administration from Al-Azhar University, Cairo.
The Dangote Group was established as a small trading firm in 1977, the same year Dangote relocated to Lagos to expand the company.
Today, it is a multi-trillion-naira conglomerate with many of its operations in Benin, Ghana, Nigeria, Zambia and Togo.
Aliko Dangote has expanded to cover food processing, cement manufacturing, and freight.
The Dangote Group also dominates the sugar market in Nigeria and is a major supplier to the country’s soft drink companies, breweries, and confectioners.
The Dangote Group has moved from being a trading company to be the largest industrial group in Nigeria including Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.
In July 2012, Aliko Dangote approached the Nigerian Ports Authority to lease an abandoned piece of land at the Apapa Port, which was approved. He later built facilities for his flour company there.
In the 1990s, he approached the Central Bank of Nigeria with the idea that it would be cheaper for the bank to allow his transport company to manage their fleet of staff buses, a proposal that was also approved.
Aliko Dangote also donated money to the Nigeria sport ministry to renovate the national stadium, Abuja.
In Nigeria today, Dangote Group with its dominance in the sugar market and refinery business is the main supplier (70 percent of the market) to the country’s soft drinks companies, breweries and confectioners.
It is the largest refinery in Africa and the third largest in the world, producing 800,000 tonnes of sugar annually.
Dangote Group owns salt factories and flour mills and is a major importer of rice, fish, pasta, cement, and fertiliser.
The company exports cotton, cashew nuts, cocoa, sesame seeds, and ginger to several countries. It also has major investments in real estate, banking, transport, textiles, oil, and gas.
The company employs more than 11,000 people and is the largest industrial conglomerate in West Africa.
Aliko Dangote has diversified into telecommunications and has started building 14,000 kilometres of fibre optic cables to supply the whole of Nigeria. As a result, Dangote was honoured in January 2009 as the leading provider of employment in the Nigerian construction industry.
He has said, “Let me tell you this and I want to really emphasise it … nothing is going to help Nigeria like Nigerians bringing back their money. If you give me $5 billion today, I will invest everything here in Nigeria. Let us put our heads together and work.”
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Other activities and involvement in politics
Aliko Dangote had a prominent role in the funding of Olusegun Obasanjo’s re-election bid in 2003, to which he gave over N200 million (US$2 Million).
Aliko Dangote contributed N50 million (US$500 Thousand) to the National Mosque under the aegis of “Friends of Obasanjo and Atiku”.
He contributed N200 million to the Presidential Library. These highly controversial gifts to members of the ruling PDP party have generated significant concerns despite highly publicized anti-corruption drives during Obasanjo’s second term.
Aliko Dangote reportedly added $9.2 billion to his personal wealth in 2013, according to the Bloomberg Index, making him the thirtieth-richest person in the world at the time, in addition to being the richest person in Africa.
In 2014, the Nigerian government said Dangote had donated 150 million naira (US$750,000) to halt the spread of ebola.
Aliko Dangote, as well as Femi Otedola, have promised to give the Super Eagles of Nigeria US$75,000 for every goal scored in the Africans Cup of Nations (AFCON) 2019.
The richest man in Africa
Aliko Dangote is ranked by the Bloomberg Billionaires Index as the 88th-richest person in the world and the richest man in Africa, and peaked on the Forbes list as the 23rd-richest person in the world in 2014.
He surpassed Saudi-Ethiopian billionaire Mohammed Hussein Al Amoudi in 2013 by over $2.6 billion to become the world’s richest person of African descent.
Family and personal life
He has married four times, and his marriages ended in divorce. He has a total of fifteen children from these marriages.
Awards and recognitions
Dangote was named as the Forbes Africa Person of the Year 2014.
In November , Dangote was awarded Nigeria’s second-highest honour, the Grand Commander of the Order of the Niger (GCON) by the former President, Goodluck Jonathan.