It is often said that unless you’re lucky, people don’t get rich and famous without having a good idea or two. But to become a multi-billionaire, those ideas have to be so big, bold and capable of creating billions of dollars in value. Nigerian-born Africa’s richest man, Aliko Dangote has not just exemplified substantial wealth, but substantial wisdom as well.
The business magnate has demonstrated severally the power of long-term thinking which has made him the world’s richest black man. From importation of commodities like cement, flour, sugar, rice, milk, fish, and iron all through the 1980s and 1990s, Dangote would later travel to Brazil to study manufacturing in 1996. He has then grown to become an astute businessman and entrepreneur who remains at the cutting edge of state-of-the-art innovations in Africa and the world at large. His business empire is the largest in Africa. Dangote, much like being synonymous with wealth creation, is also very synonymous with job creation.
His empire is one of the highest employers on the entire continent. And he has always looked at kicking job creation up a notch. Dangote, whose net worth is an impressive $20.5 billion, has invested over $19 billion in a groundbreaking oil refinery designed to be the world’s largest vertically integrated petrochemical complex.
The multi-dollar billionaire has built a vast refinery complex located in the Lagos Lekki Free Trade Zone that many thought can only be undertaken by sovereigns and not an individual. Despite being described as a ‘foolish man’ for daring to pour his hard earned billions of dollars into such a delicate project, in seven years, Dangote shamed both local and foreign naysayers. The wealthiest black individual’s unwavering commitment and courage propelled this extraordinary endeavour. The historic official commissioning of the refinery —full production set to begin in June— became a pivotal moment for Nigeria and the entire continent as many are elated over the possibilities of an abundance of jobs, a revolution of the Nigerian energy sector and a significant boost to the country’s foreign exchange earnings.