The richest man in Africa needs no introduction – Aliko Dangote’s reputation and exploits precede him. A renowned industrialist, founder, and CEO of Dangote Group, a private Conglomerate that deals in cement, sugar, salt, flour, steel, oil and gas, and packaging with yearly revenue currently exceeding 1.7 trillion nairas.
For a wealthy businessman like Dangote, it’s expected that he owns a lot of expensive properties. However, from what we know, he’s one of the few billionaires who actually lives a modest lifestyle that’s well within his means – some would even argue that he lives under allowing him more money to be invested in his business.
Aliko Dangote’s House in Banana Island: What We Found Out
While that’s among his personal holdings is a house in Banana Island that’ll be discussed in this article. Of course, it’s expected that he owns some level of real estate in Banana Island considering that the location has the highest concentration of billionaires, more so, if you’re a billionaire you might as well build your home in the most exquisite way possible.
Banana Island is home to almost every billionaire in Nigeria – even those who don’t permanently live here own some type of property here; either a massive real estate, a piece of land/building, or both. Based on records from real estate companies, the average house in Banana Island today costs at least 450 million naira – making them properties for only the elite by default.
Dangote’s House in Banana Island
For a prominent businessman like Dangote, you’d think that all his properties will be well documented by the media, but that’s quite false. Aside from his 12.5 billion naira mansion in Abuja, there’s not a lot of detail on his living homes. Perhaps he’s opted to hoard these details for security reasons, but whichever way, it’s good to respect his privacy.
This is the only online photo of Dangote’s mansion on Banana Island. Here the picture suggests three two-story buildings with at least four living quarters. Not bad for a business mogul which we expect to be living well within his means.
While that’s the case, we do expect the interior to equally match up with his known style of having at least two working offices; one for working with business associates, and another private to get more concentration for his work. Perhaps a single sitting room, multiple bedrooms, and a spacious kitchen just like his home in Abuja.
Other Houses Owned by Aliko Dangote
As a billionaire who travels a lot, you’re expected to have a couple of houses across the country if you’re to get more relaxation time when you travel instead of staying in a hotel. Dangote knows this, and having a couple of houses scattered across the country shows that he acts accordingly.
While that’s the case, there are only three houses with photos on the internet; one in Abuja (his main home), another in Victoria Island Lagos, and the last on Banana Island. Even though we understand that he has a home in Kano his place of birth, there’s not much known about that building as there has not been any extensive review of the house.
Dangote is a man that has a lot of boundaries when it comes to flaunting wealth online – unlike most billionaires he’s deeply too focused on his business to try to motivate you by displaying his expensive holding.
Aliko Dangote’s Business Profile
Aliko Dangote is an industrialist who needs no introduction. He’s the founder and CEO of Dangote Group, a multinational industrial conglomerate. With over 35,000 staff and hundreds of contract workers, he’s arguably the largest private employer of labor in Nigeria.
Although Dangote ventured into business in 1977, it wasn’t until four years later in 1981 he’d finally established the Dangote Group, a trading enterprise that would grow to be one of the largest conglomerates in Africa.
Dangote makes sure his business stretches to just about everything that has a massive amount of purchases from all categories of consumers. Perhaps that’s the key to his profound success – selling to every level of society including the poorest of the poor. A business that started from the importation of sugar, cement, rice, fisheries, and other consumer goods has so far grown to manufacturing at least 70% of its products within the country.
While conglomeration was established during the early 80s, manufacturing would wait to begin in 1989, starting with textile Mills Limited, with two main operating stations; one in Kano, and the Nigerian Textile Mills plant in Lagos. Following the drastic decline in the Nigerian textile sector around 1997, the group turned its attention to manufacturing the consumer goods it was importing into the country.
In total, the conglomerate owns and operates over 18 subsidiaries across 10 countries in Africa. Also, the company holds about 20% of the total market capitalization of the Nigerian Stock Exchange.