Billionaire industrialist Aliko Dangote has opened up about his rise to becoming Africa’s richest man, insisting that contrary to public belief, he did not inherit his wealth.
Speaking recently, Dangote clarified that although he came from a prominent and influential family, his fortune was built through personal effort and calculated risk-taking.
“I did not inherit any money from my father. I built everything from scratch to where I am,” he said.
Dangote noted that his family history provided a strong foundation—his great-grandfather was regarded as one of Africa’s richest men in the 1940s, while his father was well respected in business and politics. However, he stressed that whatever assets he inherited from his father were donated to charity.
Recounting his early years, Dangote said he began by working briefly with his uncle before moving to Lagos to start a small trading venture. His first business involved buying and selling cement, which later inspired him to establish his own cement production company.
“It was just a very low-key business at first, buying cement and selling,” he said. “But when you look at cement—cement is what builds infrastructure, and we need a lot.”
Dangote explained that Nigeria’s heavy reliance on imported cement at the time revealed a gap he was determined to fill. This led to the birth of Dangote Cement, which has since grown into one of Africa’s largest industrial powerhouses, alongside his ventures in sugar, salt and other essential commodities.
Today, the Dangote Group stands as one of the continent’s leading conglomerates, with operations reshaping Africa’s manufacturing and infrastructure landscape.
Reflecting on his journey, he added:
“Starting from scratch was not easy, but it taught me the value of hard work, perseverance, and investing in sectors that truly impact people’s lives. That has always been my guiding principle.”
