Aliko Dangote, who has business interests ranging from cement to flour has expanded is business horizon in 2019, according to a report posted in the Bloomberg news portal. The year 2019 seems to have helped him to further advance his bottom lines and the profits vaulted to US$ 4.3billon in 2019. The net worth of Dangote group is now US$ 15 billion. The 62-year old Kano born tycoon fits well into a rags to riches story. He ended the decade as the 96th wealthiest man in the world.
The years ahead -2020 and beyond -will be a testing time for the tycoon, who has been adjudged as the richest man in Africa for some years in succession. His most ambitious project -an oil refinery and petrochemical plant by the Dangote group -is in for execution. Though Aliko Dangote is gung -ho about the execution of the project in time, it may be noted that it has missed a number of targets. Experts say, the project may be completed only by 2021, despite the assertions by the group that it would now be completed in 2020.
Billed as Africa’s biggest private refinery the plant has the capacity to meet more than Nigeria’s entire fuel consumption. The integrated complex also will have a fertilizer unit, which would use oil as the feedstock.
