"Humble Beginning:" Rare Picture of Dangote as a Young Man With Dantata Stirs Emotions

"Humble Beginning:" Rare Picture of Dangote as a Young Man With Dantata Stirs Emotions

  • The picture of Aliko Dangote, Africa's richest man, and his billionaire uncle, Aminu Dantata, has stirred several emotions
  • In the picture, the billionaire was seen posing for photos with his uncle with Dantata's private jet in the background
  • Dangote said his uncle loaned him about N500,000, with which he began his cement business in the 1980s

Nigerian netizens have gathered the picture of Nigeria and Africa's richest man, Aliko Dangote, with his wealthy uncle, Aminu Dantata.

In the picture, the young Dangote was seen posing for a photo with his uncle as they descended from what seemed like a private jet.

Dangote, Dantata, Refinery
Aliko Dangote and his uncle, Dantata Credit: PIUS UTOMI EKPEI / Contributor
Source: Getty Images

Dangote describes impact of Dantata on his business

Dangote has described his uncle's impact on his life and business in several interviews.

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It is reported that Dantata reportedly loaned him about N500,000 Dangote to start a cement business in the early 1980s.

The billionaire who commissioned Africa's biggest refinery worth more than $18 billion has remained Africa's richest man for 12 years and has repeatedly stated how much he learned about the business from his uncle.

The billionaire businessman said the refinery currently employs 33,000 Nigerians.

He revealed that the 650,000bpd capacity refinery targets the population in its employment drive.

Dangote reveals impact of Refinery on Nigeria's economy

Africa's richest man disclosed this at the commissioning of the refinery, which was hailed as the biggest in Africa and the world's largest single-train refinery.

He stated that the refinery would generate over $21 billion in revenue and save Nigeria the much-needed foreign exchange which would have been used for fuel imports.

The statement suggests that the refinery will sell refined products to Nigeria in the local currency, contrary to speculations that it plans to sell the products to the country in dollars.

According to him, 40% of products from the refinery will be available for export, generating raw materials for plastic and other products.

At the refinery commissioning, members of Nigeria's National Assembly, eminent persons, and other dignitaries joined Dangote at the commissioning.

Dangote makes $103m on the day of refinery opening, reveals when product lifting will commence

Legit.ng reported that Aliko Dangote's net worth soared by $103 million on Monday, May 22, 2023, when he commissioned the biggest refinery in Africa.

Dangote gained about $103 million, the equivalent of N37.3 billion, as Africans gathered to commission the Dangote Refinery, considered the largest single-train refinery in the world.

The Nigerian billionaire moved one step up to the 81st position from the 82nd position he occupied on Friday, May 19, 2023, on Bloomberg Billionaire Index.

Source: Legit.ng

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