Nigeria, March 30 -- Nigerian industrialist Aliko Dangote has retained his position as Africa's richest individual for the 14th consecutive year, with his estimated fortune surging to $23.9 billion, according to the Forbes 2024 Africa Billionaires list published on Saturday.

The latest valuation shows a sharp increase from the $13.9 billion attributed to Mr Dangote in the previous year, largely driven by Forbes' decision to include the value of his newly operational oil refinery.

Located on the outskirts of Lagos, the facility began refining crude oil in early 2024 and is expected to reach full capacity this month.

"This is a very, very big relief," Mr Dangote told Forbes, describing the refinery as "a pivotal step in ensuring that Afr...