Dangote’s net worth increased by $15.1 billion to $27.8 billion as at October 18. The billionaire businessman moved up to 65th position, making him the only African in the top 100 spot. The elevation places Dangote more than 100 spots ahead of Johann Rupert, the South African billionaire, who is ranked 174th.

The 650,000 barrel-per-day plant sits on 2, 635 hectares of land located in the free zone area of Ibeju-Lekki, Lagos. The facility began the production of diesel on January 12, but petrol production did not commence until September 3 due to several factors — including crude supply challenges.

On June 4, Dangote said some IOCs were struggling to supply crude to his refinery. However, after the intervention of President Bola Tinubu, the federal executive council (FEC) approved the sale of crude oil to the Dangote refinery and other refineries in naira on July 29.

Source: THECABLE