Aliko Dangote’s Fortune Hits $53.2 Billion as Dangote Cement Market Value Surpasses ₦20 Trillion

According to a report by BusinessDay on Tuesday, October 27, 2026, Nigerian billionaire Aliko Dangote’s estimated net worth has climbed to $53.2 billion following a significant rise in the share price of Dangote Cement Plc, which pushed the company’s market capitalisation above ₦20 trillion for the first time. The development further strengthens Dangote’s position as Africa’s richest man and highlights the growing value of his business interests.

Data from Forbes’ real-time billionaire tracker, analysed by BusinessDay, showed that Dangote’s fortune increased by $1.2 billion on Monday, October 26, bringing his estimated wealth to $53.2 billion. His net worth had stood at approximately $51 billion on October 20, meaning he gained about $2.2 billion in less than a week.

The increase coincided with a strong rally in Dangote Cement shares on the Nigerian Exchange Limited (NGX). The company’s stock rose by 10 per cent to close at ₦1,222.10 per share, compared with ₦1,111 recorded previously. The rally lifted its market capitalisation from approximately ₦18.5 trillion to ₦20.6 trillion.

The milestone makes Dangote Cement the second company listed on the Nigerian Exchange to surpass the ₦20 trillion market capitalisation mark. The performance also reflects the significant influence of the company within Nigeria’s capital market and the wider African cement industry.

Dangote Cement has recorded substantial growth in its share price throughout 2026. The stock began the year at approximately ₦609 per share before climbing to ₦1,222.10 on October 26, representing an increase of about 100.7 per cent. The latest price also marked a new 52-week high.

Beyond his cement business, Dangote’s estimated wealth has also been influenced by developments involving Dangote Petroleum Refinery and Petrochemicals. The privately held refinery recently underwent a valuation reassessment following a $2.5 billion private placement, providing an additional reference point for estimating the value of Dangote’s stake in the business.

The refinery’s initial public offering, valued at ₦2.15 trillion, is scheduled to close on October 27, 2026. The offer involves 4.1 billion shares priced at ₦525 each. The subscription period was extended from October 13 to October 27 following approval from the Securities and Exchange Commission to give more investors an opportunity to participate.

Dangote’s latest wealth increase demonstrates how movements in publicly traded shares and changes in the valuation of private businesses can influence billionaire rankings. However, his estimated net worth can fluctuate as market prices change and new valuations become available.

With Dangote Cement reaching a historic market valuation and the refinery’s share offer approaching its deadline, developments across the billionaire’s business empire continue to attract considerable attention from investors and the Nigerian business community.

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