This is an increase of $100 million from his worth last year.Dangote is the continental richest for the seventh year in a row.

Other Nigerians on the African list are Globacom Chairman Mike Adenuga ($5.3 billion) adjudged the fifth richest in Africa and Mrs Folorunsho Alakija ($1.6 billion) rated the 15th richest in Africa.

Following after Dangote in the African rich list is diamond mining heir Nicky Oppenheimer of South Africa ($7.7 billion) up $700 million last year.

Forbes said: “Dangote is looking beyond cement –his most valuable asset – and has been investing in a fertiliser production company and a large oil refinery. Dangote Fertiliser is expected to start operations in the second quarter this year.”