Business

FAMILY TIES: 3 Dangote Daughters Take Over Companies As Billionaire Tycoon Steps Back

Published

4 months ago

August 2, 2025

Aliko Dangote, Nigeria’s most prominent businessman and Africa’s richest individual, has increasingly involved his three daughters in his business empire – a move seen as both a sign of succession planning and a commitment to family legacy.

Nigerian billionaire Aliko Dangote, estimated by Bloomberg to be worth $28.5bn as of 28 July, has quietly begun stepping back from boardroom duties.

In June, the 68-year-old businessman retired from the board of Dangote Sugar Refinery.

Last Friday, he also stepped down as chairman of Dangote Cement, the crown jewel of his conglomerate, before the launch of his $20bn oil refinery.

He has been replaced at Dangote Cement by Emmanuel Ikazoboh, a former chair of Ecobank Transnational Incorporated, who joined the cement group in 2014.

Mariya Dangote – Dangote Cement, Dangote Sugar, DPAN
His eldest daughter, Mariya Dangote, has now joined the board of Dangote Cement. According to a company statement, her appointment is intended to help the business remain “agile and well positioned for long-term value creation”. Her “cross-functional expertise and understanding of strategic operations” were cited as key assets.

Mariya became executive director of operations at Dangote Sugar Refinery in 2022, after overseeing strategic planning, backward integration projects and digital transformation efforts since 2019. She had previously worked as a business strategy and risk specialist at Dangote Industries Limited (DIL), the group’s holding company, joining in 2016 shortly after completing an MBA at Coventry University in the UK.

She also serves on the board of Dangote Peugeot Automobiles Nigeria, which manufactures and markets Peugeot vehicles locally.

With Mariya’s appointment, two of Dangote’s daughters now sit on the board of Dangote Cement, Nigeria’s third-largest listed company, valued at N8.34trn ($5.4bn) as of 28 July.

Halima – Dangote Cement, DIL, NASCON, Family Office
Halima Dangote was appointed to the Dangote Cement board in early 2022, shortly after the death of her uncle, Sani Dangote, who also served as vice president of DIL. She has been a group executive director at DIL since 2019 and previously led a turnaround at Dangote Flour Mills, culminating in its sale to Singapore’s Olam Group.

Between 2014 and 2016, she was an executive director at NASCON Allied Industries, another DIL subsidiary, and continues to sit on its board in a non-executive capacity.

In 2023, Halima was tasked with establishing and running the Dangote Family Office in Dubai. She is also a trustee of the Aliko Dangote Foundation, the group’s philanthropic arm.

Fatima – DIL, NASCON
Fatima Dangote, the youngest of the three, is group executive director for commercial operations at DIL. She oversees commercial strategy, communications, procurement and administration across the group. Earlier roles included working as a technical specialist in the strategy unit and as an executive assistant to the director of business development and portfolio management.

Speaking to The Africa Report last year, she underlined Dangote Industries’ push to domesticate sugar production. “Nigeria is importing 90% of the sugar requirement. The homegrown sugar is still less than 10%,” she said. “However, with the aggressive implementation of the Backward Integration Programme, Dangote will be able to reduce its dependence on imports soon.”

She has sat on the board of NASCON Allied Industries since 2023 and previously served as executive director from 2016, during which she oversaw the company’s commercial sales, marketing, logistics and branding strategies.

My three daughters, Mariya, Halima and Fatima, are all senior executives at the group, and I can tell you for a fact that they are critical to the success of our business

Fatima is also closely involved with the Aliko Dangote Foundation and regularly appears alongside her father at public events. In a CNN interview last year, she described him as “extremely hardworking”.

Asked whether he was demanding as a parent, she replied: “A bit hard. I think he expects so much more from us compared to other people, and when you have a father like him, nothing but perfection is acceptable, then you have to work extra…”

Expansion continues across core sectors
While stepping back from the cement business, Dangote has signalled a renewed focus on his group’s energy and industrial ventures. The conglomerate has recently launched a $2.5bn fertiliser plant in Lagos and brought its 650,000-barrels-per-day refinery in 2024. Last November, it reopened its tomato processing plant in Kano.

In a statement, DIL said Dangote would now concentrate on the refinery, fertiliser and petrochemical operations, as well as on government relations.

Earlier this month, he announced plans to more than double output at the fertiliser plant by 2028 and to boost refinery capacity to 700,000 barrels per day. He also revealed plans to develop what he described as “Nigeria’s largest deep-sea port” to support exports of the group’s energy and industrial products, adding that the new port would “become an anchor for our liquefied natural gas, fertilisers and fuels”.

Outside Nigeria, DIL has signed a $3bn agreement with the Ethiopian government to build a fertiliser plant in Gode, in the Somali Region.

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‘They are critical to the success of our business’
At a 2019 event in Lagos, Dangote highlighted the contribution of his daughters to the group.

He credited his entrepreneurial outlook to his mother, whom he described as “a strong business-minded woman” who nurtured his ambition. “My three daughters, Mariya, Halima and Fatima, are all senior executives at the group, and I can tell you for a fact that they are critical to the success of our business,” he said.

Business

2025 Net Worth: Meet Nigerian Billionaire Who Has Made More Money Than Aliko Dangote

Published

4 days ago

November 16, 2025

Uthman Abdulganiyu

Abdulsamad Rabiu, the founder of BUA Group, has emerged as the fastest-growing African billionaire in 2025.

His wealth rise in 2025 is higher than Africa’s richest man, Aliko Dangote and other African billionaires.

According to the latest data from the Bloomberg index, Rabiu’s net worth has increased by $5.25 billion in 2025, bringing his total net worth to $8.4 billion as of Friday, November 14.

In comparison, Dangote who has a total net worth of $29.8 billion, has gained $1.75 billion from January to November 14, 2025.

The increase in Rabiu’s wealth is thanks to the performance of his key assets on the Nigerian Exchange: BUA Cement and BUA Foods, two of the largest companies in the country.

However, Dangote remains Africa’s wealthiest individual for total net worth

A Lagos-based financial analyst, Kelvin Umeni, said: “Rabiu’s companies have been performing strongly. If you check the half-year results of his two companies, you will realize he is doing very well. I am not surprised, and I expect him to hit a $10 billion net worth soon.”

Other African billionaires on the Bloomberg billionaire index have also recorded impressive gains this year but not at the same pace with Rabiu.

Johann Rupert, Africa’s second-richest man, has a total net worth of $18.4 billion as at Friday, an increase of $4.79 billion from the start of the year. His wealth is driven by stakes in Richemont.

Nicky Oppenheimer, another South African billionaire known for his holdings in De Beers, has gained $2.18 billion so far in 2025, bringing his wealth to $13.7 billion. While Egyptian billionaire Naguib Sawiris wealth totals $10.1 billion, which is a YTD increase of $3.23 billion.

His fellow countryman, Nassef Sawiris net worth currently stands at $9.42 billion, a $727 million growth in 2025.

South African entrepreneur Natie Kirsh fortune has increased by $530 million, taking his total net worth to $9.86 billion.

It is important to note that Dangote remains Africa’s richest man by a distance, but for wealth gain in 2025, Abdulsamad Rabiu is the rising star.

Business

CBN Gov Welcomes S&P’s Upgrade Of Nigeria’s Outlook To Positive

Published

5 days ago

November 15, 2025

Uthman Abdulganiyu

The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has welcomed the decision of S&P Global Ratings to revise Nigeria’s outlook to “positive” from “stable,” describing it as a signal that reforms in the financial system are gaining traction.

S&P announced the upgrade on Friday citing improving policy coordination, strengthened monetary management and steps taken to restore confidence in the Nigerian economy.

The revision shows that Nigeria is now viewed as having a better chance of achieving stronger credit fundamentals over the medium term. This means S&P now sees Nigeria as more likely to strengthen its economic and financial stability in the coming years, based on recent policy improvements.

In practical terms, the agency believes the country has a stronger chance of earning a future credit rating upgrade if current reforms are sustained.

Speaking at a strategic session in Abuja, Cardoso said the development reflects the steady progress recorded in stabilizing key economic indicators since the beginning of the year.

According to him: “This is encouraging news for the country. It shows that our efforts to restore stability, strengthen governance frameworks and rebuild trust in the financial system are being recognized internationally.”

The Governor noted the CBN’s actions—ranging from tighter monetary policies to enhanced foreign exchange market operations—have contributed to clearer market signals and better investor confidence.

“The Central Bank has brought stability to the economy and become a beacon of hope,” he stated.

Cardoso added that the improved outlook should motivate both public and private sector stakeholders to sustain ongoing reforms that support growth, investment, and long-term macroeconomic resilience.

S&P’s latest position places Nigeria on a stronger footing ahead of future reviews and sends a positive message to global investors assessing opportunities in Africa’s largest economy.

Business

Nigeria Targets ₦160bn From Wheat Production

Published

5 days ago

November 15, 2025

Uthman Abdulganiyu

The Federal Government on Saturday said it has earmarked 40,000 hectares of land for 2025/2026 dry season wheat production and registered 80,000 farmers, with an expected output value of approximately ₦160 billion.

The Minister of Agriculture and Food Security, Abubakar Kyari, disclosed this during the official flag-off of the 2025/2026 dry season wheat production programme under the National Agricultural Growth and Agro Pocket Project (NAGSAP) in Jere Local Government Area of Borno State.

Speaking at the ceremony, the minister said that out of the 40,000 hectares earmarked for wheat production this dry season, 3,000 hectares have been allocated to Borno State, representing 6,000 registered wheat farmers.

He said: “Under the 2023/2024 dry season wheat production programme, a total of 107,429 registered farmers were supported with critical subsidized inputs, resulting in an output valued at ₦474,628,000 billion. During the 2024/2025 dry season, 279,297 registered farmers received support, with an output valued at ₦893,750,004 billion.

“For the current 2025/2026 season, the programme is targeting 80,000 registered farmers with an expected output value of approximately ₦160 billion.”

Kyari emphasized that the NAGSAP programme will deploy Agricultural Extension Agents to guide farmers on modern agronomic practices and provide continuous field-level advisory services.

“In addition, Fertiliser and Seed Quality Control Officers will be mobilised to ensure that all inputs delivered to farmers meet the required standards, thereby guaranteeing higher productivity and improved yields,” Kyari added.

According to him, the wheat component of the NAGSAP programme covers sixteen states of the federation.

“These are Adamawa, Bauchi, Borno, Cross River, Gombe, Kaduna, Kano, Kebbi, Niger, Plateau, Sokoto, Taraba, Yobe, and Zamfara. The inclusion of Cross River last year expanded wheat production into the southern region for the first time and strengthened our national capacity to diversify production across ecological zones,” he said.

Kyari noted that the project is designed to include women and young people, enabling them to access training and agricultural opportunities.

“NAGSAP is deliberately designed to leave no one behind. The program ensures that farmers across communities—including women and young people, who play vital roles in our agricultural workforce—have equitable access to inputs, training, and opportunities.

“The success of any agricultural season depends on the quality of inputs that reach our farmers. Without certified seeds, accurate fertilizer blends, and timely access to crop protection products, no level of effort in the field can deliver the yields we require as a nation. This is why NAGSAP places strong emphasis on input quality, traceability, and transparent delivery systems, ensuring that every farmer receives the right inputs at the right time to achieve higher productivity and better returns,” he said.

Also speaking, the Governor of Borno State, Babagana Zulum, applauded the Federal Government for its continuous support towards irrigation development.

“Mr President’s commitment to food security and national productivity provides the foundation upon which programs like this are built,” he stated.

According to him, Borno State, with its vast arable and irrigable land—especially within the Lake Chad Basin—remains one of Nigeria’s most promising agricultural frontiers.

He said: “Today is more than a ceremony; it is a celebration of hope, resilience, and our unwavering commitment to ensuring that no family in Borno State goes hungry and no farmer is left behind. Despite the challenges of displacement, insecurity, and climate shocks, Borno State remains steadfast in growing its own food and empowering its people.”

The governor reaffirmed his administration’s commitment to sustaining all-season farming through the provision of essential infrastructure, logistics, modern machinery, improved seeds, fertilizers, agrochemicals, and other inputs required to boost productivity and support farmers across the state.

“Here in Borno State, wheat cultivation is not just a program; it is a transformative initiative. Through targeted investments in irrigation, mechanization, quality inputs, and extension services, we are equipping farmers to achieve higher yields, enhance productivity, and contribute meaningfully to national output.”

He further stated: “Borno State has achieved remarkable milestones under our people-centered agricultural vision. Our input support programmed have reached tens of thousands of smallholder farmers, resettled households, women, and youth, providing improved seeds, agrochemicals, and agronomic guidance.”