Aliko Dangote: Billionaire Business Magnate and Philanthropist
With a net worth of almost ten billion dollars, Alliko Dangote is famously known for being one of the richest persons on the African continent.
He is the great-grandson of Alhaji Alhassan Dantata, who at one time, was the richest man in West Africa. Aliko Dangote was born on April 10, 1957, and started to show a strong entrepreneurial streak from his early days. He reportedly started his foray into business as a primary school pupil that would buy boxes of sweets and then sell to his peers at a profit.
Dangote graduated from Al-Azhar University in Egypt with a business degree at the age of 21. After graduating, he convinced his uncle to lend him money to start a business. He reportedly repaid the $3,000 loan in three months, and the rest is history.
Today, the Dangote Group is one of the largest conglomerates in West Africa, with wide-ranging interests in cement, packaging, food, and beverages, among others. Dangote’s ambitious plans to set up the largest petroleum refining facility in Nigeria are currently underway. Apparently, the refinery will be able to meet Nigeria’s demand for petroleum products within 18 months of operation.
Through the Dangote Foundation, which was set up in 1994, Aliko Dangote proves he is not just an entrepreneur, but a large-hearted philanthropist.
The Dangote Foundation is responsible for contributing over $100 million to several charitable causes in Nigeria and across Africa over a four-year period, including a $2 million donation to the World Food Programme as part of the efforts to help Pakistani nationals affected by floods in 2010, donating relief materials worth 50 million Naira to communities in Jos suffering from the effects of the prolonged crisis, amongst many other charitable donations.
The 63-year-old billionaire had also donated 100 million Naira worth of materials to help rebuild the structures destroyed in the Abule-Ado explosion.
As the coronavirus pandemic began to spread across Nigeria, Dangote pledged to build a 600-bed isolation centre in Kano state. He said,
“The impact of COVID-19 pandemic on Nigeria is enormous and affects us all, and no institution can battle it alone. It is therefore critical that we act in solidarity as a private sector actor and as a foundation, to beat this common enemy. Our goal is to contribute to the Government’s ongoing efforts of tackling the spread of the coronavirus and the arising challenges.”
Dangote also contributed 2 billion Naira to the Private Sector Coalition Against COVID-19 (CACOVID) fund, amongst other financial donations.
From his strides in the world of business to his acts of philanthropy, Aliko Dangote is evidently a man who has a heart for developing Nigeria and Nigerians. His financial support of Nigeria’s fight against COVID-19 has won him a well-deserved spot on the Neusroom 100 List of People, Organisations, Countries, and Things Supporting the fight against COVID-19.
You can see the full list of honourees here.
Writer: Ukpebor Efe
Designer: Kume Akpubi
