October 17, 2024 | 03:30 PM ET |
Africa’s wealthiest man, Aliko Dangote, has seen his wealth fortune more than double to $28 billion following the long-anticipated launch of his Nigerian oil refinery, as reported by the Bloomberg Billionaires Index.
This refinery, the largest single-train facility in the world, can process a variety of crude oils from around the globe and marks a groundbreaking achievement for Dangote, who has financed the $20 billion project largely from his own resources.
The Nigerian industrial magnate now oversees one of Africa’s most ambitious private-sector ventures.
The refinery is poised to reshape Nigeria’s energy sector by producing refined petroleum products domestically, potentially ending the country’s dependence on fuel imports.
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