Leadership (Abuja)
Iyobosa Uwugiaren
24 December 2008
Abuja — The Chairman and owner of the Dangote Group of Companies has been appointed the chancellor of Kano State University of Science and Technology.
Born April 10, 1957, Dangote controls much of Nigeria's commodities trade through his corporate and political connections. With an estimated current net worth of about US$3.3 billion, he was ranked by Forbes as the 334th richest man in the world as of March 5, 2008, making him the richest African citizen and the second richest black person in the world behind Mohammed Al Amoudi ($9.0 billion) and ahead of Oprah Winfrey ($2.5 billion), Mo Ibrahim ($2.5 billion) and Vusi Tsale of South Africa ($2.4 billion). The Dangote Group, originally a small trading firm founded in 1977, is now a multi-billion naira conglomerate with operations in the country,Benin Republic, Ghana and Togo. Dangote's businesses include food processing, cement manufacturing, and freight.
The Dangote Group dominates the sugar market in the country, as he is the major sugar supplier to the country's soft drink companies, breweries, and confectioners. Dangote Group has moved from being a trading company to the country's largest Industrial group, including Dangote Sugar Refinery (the most capitalised company on the Nigerian Stock Exchange, valued at over $3 billion with Aliko Dangote's equity topping $2 billion), Africa's largest Cement Production Plant: Obajana Cement, Dangote Flour amongst others.
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