Business is always booming for Aliko Dangote — the richest man in Africa. However, his latest project may become his biggest venture yet. According to Business Insider, the Nigerian tycoon recently opened the continent’s largest fertilizer plant on the outskirts of Lagos on March 22. The Dangote Fertiliser Plant comes during the time of the ongoing conflict between Ukraine and Russia — in which the latter country plays a crucial role as a key player in fertilizer supply. According to Trade Data Monitor and Bloomberg’s Green Markets, Russia “accounted for almost one-fifth of 2021 fertilizer exports.” With the current sanctions against Russia causing fertilizer costs to increase, customers are now “begging” for the Dangote Fertiliser Plant to sell crop nutrients, according to Dangote. “We are lucky to have this plant,” Dangote told CNN. “It is coming at the right time with the Ukraine-Russia conflict as both Ukraine and Russia control substantial amounts of agricultural inputs.” The...
Mar 24, 2022
Aliko Dangote, the prolific Nigerian businessman, is ranked as the richest Black man in the world. While being birthed into a wealthy family, Dangote has accumulated his own wealth by becoming the largest exporter of crude oil in Africa and his investments in cement, flour and sugar. Now, Dangote’s wealth has reportedly surged. Bloomberg reports that the tycoon’s wealth is heading to close out 2021 with a bang. “The rising share price of his Dangote Cement Plc and higher oil and fertilizer prices helped boost the 64-year-old Nigerian businessman’s wealth by as much as $2.3 billion this year to $20.1 billion as of Dec. 3, the richest he has been since 2014,” the outlet reported.
Dec 3, 2021