L-R: Chief Executive Officer, TIME, Jessica Sibley, President/CE, Dangote Industries Limited (DIL), Aliko Dangote, Group Executive Director, Commercial Operations (DIL), Fatima Aliko Dangote and Managing Director/CEO, Aliko Dangote Foundation, Zouera Youssoufou, attending TIME100 Impact Dinner, at One World Observatory in New York City.
Africa’s richest man and Chairman of the Aliko Dangote Foundation (ADF), Aliko Dangote, has reiterated his commitment to increasing investments aimed at improving the lives of vulnerable populations across Africa.
Speaking at the TIME100 Impact Dinner held at the One World Observatory in New York City, Dangote emphasised the importance of giving back to society and revealed that his foundation currently spends over N50 billion ($35 million) annually on various social development initiatives.
Dangote was named one of TIME Magazine’s 100 most influential global philanthropists, a list that includes notable figures such as Michael Bloomberg, Oprah Winfrey, Melinda Gates, Warren Buffett, and David Beckham. The inaugural list, published on May 22, recognises individuals driving significant impact through their philanthropic efforts.
He was joined at the event by his daughter, Fatima Aliko Dangote, Group Executive Director, Commercial Operations, Jessica Sibley, CEO of TIME, and Zouera Youssoufou, Managing Director/CEO of the Aliko Dangote Foundation.
TIME highlighted Dangote’s journey from building a fortune of $23.9 billion through investments in cement, agriculture, and oil refining, to making meaningful contributions to human development. In 2014, he endowed the Aliko Dangote Foundation with $1.25 billion, setting the stage for one of the largest philanthropic efforts in Africa.
“Our investments in health, education, nutrition, and economic empowerment are designed to help Africans succeed. This is part of our commitment to giving back to the continent that has given us so much,” Dangote said.
Among ADF’s flagship initiatives is a $100 million multi-year programme focused on tackling severe childhood malnutrition across Nigeria. The Foundation also played a pivotal role in the successful eradication of polio from Nigeria, through a vaccine programme developed in partnership with the Bill & Melinda Gates Foundation and other stakeholders.
In the education sector, Dangote has contributed significantly to improving infrastructure and access. He recently pledged $10 million to the Aliko Dangote University of Science and Technology in Kano State. In 2019, ADF made headlines with a N1.2 billion hostel donation to Ahmadu Bello University, Zaria—the largest ever single donation by an individual to a Nigerian university.
The Foundation is also focused on early childhood education through the Mu Shuka Iri (“Let’s Plant a Seed”) initiative, which trains local women as community educators using the Montessori method. In addition, it offers scholarships, vocational training, and annual fellowships under the World Economic Forum’s Young Global Leaders programme.
“We must prepare the next generation of African leaders,” Dangote said. “Philanthropy is a value I inherited from my mother. For 30 years, I’ve worked to honour that legacy, and I hope my daughters will continue it—not only in business but in impact.”
He added: “I want to be remembered not just as Africa’s wealthiest individual, but as its most dedicated philanthropist.”
With these renewed commitments, Dangote’s philanthropic mission continues to expand, positioning the Aliko Dangote Foundation as a leading force for sustainable development in Africa.
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