Like several of the world’s wealthiest individuals, including Bill Gates, who has pledged 99% of his personal fortune to his foundation, Nigerian billionaire Aliko Dangote also plans to dedicate a substantial portion of his wealth to philanthropy. This decision was revealed by his daughter, Halima Dangote, a board member of the Aliko Dangote Foundation, in an interview with Bloomberg.
According to Halima Dangote, her father has stipulated in his will that one-third of his fortune will be transferred to the foundation after his death.
“He asked my two sisters, our grandmother, and me to sign the will to formalize his decision to leave one-third of his fortune for the benefit of humanity,” Halima Dangote stated.
This decision aligns with the principles of Islamic inheritance law. As a practicing Muslim, Aliko Dangote can freely bequeath only one-third of his estate through a will. The remaining two-thirds must be distributed among his designated heirs according to the inheritance rules outlined in the Quran, after debts and funeral expenses are settled.
This approach differs from that of many Western philanthropists who have joined the Giving Pledge initiative, launched by Bill Gates, Melinda French Gates, and Warren Buffett, which encourages billionaires to donate the majority of their fortunes to charitable causes.
Even though it is limited to one-third of his wealth, the amount involved remains considerable. Aliko Dangote’s fortune is currently estimated at over $35 billion, meaning approximately $11.7 billion would go to the Aliko Dangote Foundation, making it one of Africa’s largest philanthropic endowments.
That figure could increase further in the coming years as the group’s investments continue to expand. Several major industrial projects are currently scaling up, particularly in refining, fertilizers, and construction materials.
Aliko Dangote, Africa's richest man, heads a conglomerate with operations spanning oil refining, cement, fertilizers, sugar and several other industries. . W. Belfkih/Le360 Afrique
Aliko Dangote heads a conglomerate operating across several strategic sectors. His group dominates Africa’s cement market through Dangote Cement, its main earnings driver. It also owns the Dangote Petroleum Refinery, Africa’s largest refinery, with a nominal capacity of 650,000 barrels per day. The group is also active in fertilizer production through Dangote Fertilizer, whose Lekki plant has an annual production capacity of 3 million tonnes. Its operations also extend to agribusiness, including sugar, salt, and rice, as well as other industrial sectors.
Established in 1994, the Aliko Dangote Foundation has become one of Africa’s leading philanthropic organizations. Initially endowed with $1.25 billion, approximately 70% of its programs are carried out in Nigeria, with the remainder supporting other African countries and regions where the group operates.
The foundation focuses primarily on healthcare, education, food security, and poverty alleviation. It is particularly known for its partnership with the Bill & Melinda Gates Foundation in efforts to eradicate polio in Nigeria.
