Africa’s richest man tagged as a $200 billion man by fellow Nigerian billionaire

The Nigerian billionaire Femi Otedola recently labelled Africa’s richest man, Aliko Dangote, as a “$200 billion man in the waiting,” just days after Dangote hinted at being worth over $38 billion.

• Femi Otedola called Aliko Dangote a “$200 billion man in the waiting” after hosting him in Monaco.
• Dangote’s wealth is expected to soar due to the ramp-up of the Dangote Petroleum Refinery, the largest single-train refinery in the world.
• Dangote himself hinted that his actual net worth is likely much higher than publicly reported figures, as many of his businesses are not yet listed.
• He stated that although he’s listed at $38 billion, the true value should emerge as his businesses go public.

Otedola, chairman of one of Nigeria’s largest financial institutions, First HoldCo Plc, made the comment in a social media post after hosting Dangote in his residence in Monaco.

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He shared a snapshot of himself and Dangote writing, “A beautiful day at home in Monaco with my bestie, Africa’s greatest industrialist. $200 billion man in the waiting @AlikoDangote.”

The statement comes at a time when Dangote’s business conglomerate is experiencing a tremendous shift, owing primarily to the operational ramp-up of the Dangote Petroleum Refinery, the world’s largest single-train refinery.

The refinery, which has begun to reshape petroleum supply dynamics in Nigeria and Africa in general, is recognized as one of the continent’s most ambitious industrial undertakings.

The comment also follows a similar narrative implied by Dangote himself about the real figure of his current listed net worth.

A few days back, Aliko Dangote hinted that his true net worth may be substantially higher than the figures currently published by global wealth trackers.

The CEO of Africa’s largest refinery threw out the suggestion during a street interview with James Dumoulin, the founder of the School of Hard Knocks platform, noting that some of his company, including his refinery, has not been listed yet, hence his net worth being potentially undervalued.

“They say I’m worth $38 billion, but most of our businesses are not listed yet,” Dangote said when asked how much he was worth.

“It will come out soon,” the Nigerian industrialist added, seemingly hinting that the true extent of his wealth could become clearer once some of his private businesses are publicly valued.

Via his X page, Femi Otedola was also seen hanging out with another fellow Nigerian billionaire, Abdulsamad Rabiu, in what he described as a meeting to strengthen their “partnership and exploring new possibilities.”