Aminu Dantata’s net worth is estimated at $1 billion. The billionaire businessman who has significant interests in the oil and gas, banking, and real estate sectors is the owner of several luxurious cars. Aminu Dantata also owns numerous houses, including his lavish Koki residence in Kogi State.
Dantata, the granduncle of the wealthiest black man, Aliko Dangote, is undeniably also one of the richest men in Nigeria. His family has a long history of wealth, but the 92-year-old also made a name for himself through different means and by being the head of Alhassan & Sons Nigeria Limited.
How Wealthy is Aminu Dantata?
The Kano State-born Aminu Dantata’s net worth is estimated at $1 billion. However, there are sources that claim that the businessman’s net worth could be as high as $6.3 billion. Needless to say, the business mogul has not given any specific figure with respect to how much he has accumulated since the beginning of his official business venture in the 1940s.
So, in case you wonder how we arrive at Dantata’s net worth, we have calculated his assets while also considering liabilities. These assets are anything he owns that has monetary value. Some of these include businesses, cash, stakes, houses, cars, and many others.
Whatever the case, it is a known fact that Aminu Dantata is one of the richest and high-net-worth individuals (HNWI) in Nigeria. In fact, he also belongs to one of the richest families in Nigeria – the Dantata/Dangote families.
Sources of Aminu Dantata’s $1 Billion Net Worth
Dantata Started Out by Working Petty Jobs
Before Aminu Dantata became a prominent billionaire, he was involved in petty jobs. In a report, he indicated that he got involved in any productive work that would earn him a living at an early age.
Some of the jobs include water vending as well as buying and selling farm produce. His work at the time took him to various villages and towns, mostly in Northern Nigeria. Some states he had his business exploits in are Kano, Katsina, and Kaduna.
He Joined His Father’s Company as a Produce Buyer at Age 17
Aminu started his career as a businessman in 1949 at the age of 17 after he completed his studies at the Dantata English and Arabic School. His career began as a produce buyer in his father’s company, Alhassan Dantata & Sons. According to reports, he was posted to Argungu as a Dan Gyada, a Hausa term for a groundnut agent.
With his aid, the company further solidified itself both within and outside Nigeria. In fact, the company thrived over the years, and in 1953-1954, his father, Alhassan Dantata, became a licensed buying agent of groundnut.
This contributed to the success and fortune of Aminu Dantata, and it has also immensely become a huge milestone in what has led to the $1 billion net worth of Dantata. Only a few years after he joined the business, Aminu, who is Aliko Dangote‘s granduncle, became the Sokoto district manager of Alhassan Dantata & Sons in 1955 when he was 24 years old.
There, his contributions were enormous, and his zeal to contribute more was even more glaring. This would lead to his becoming the deputy managing director of the company. Following the death of his older brother, Ahamadu Dantata, Aminu became the head of Alhassan Dantata & Sons in 1960.
Dantata’s Company Constructed the Nigerian Defence Academy Complex and School of Aviation in Kaduna State
Aminu Dantata ventured into the construction business shortly after he became the head of his famous family’s company. Through it, he won the contract to construct the Nigerian Defence Academy around 1961/1962 in Kaduna.
At the time, the contract was reportedly worth about 500,000 pounds and was said to be the most significant building contract awarded to an individual at the time.
Again, in 1964, Dantata got another highly-lucrative contract to build the School of Aviation complex in Zaria, Kaduna State. As much as this contract added to Aminu’s wealth, it equally cemented his place in the construction industry, which led to his construction of several other buildings, thus earning him more money.
He Also Delved into the Importation and Wholesale Distribution of Essential Commodities
Dantata’s business exploits led him to the importation and wholesale distribution of some essential commodities. Some of these include rice, sugar, and fertilizer. Also, he exported many other commodities, including cocoa, groundnut, runner, hides and skin, and palm products.
In the same vein, Dantata’s company has shares in Mentholatum, SCOA, Funtua Cotton Seed Crushing Co, and Raleigh Industries. He did many of these through another company Northern Amalgamated Marketing Company Ltd. (NAMCO). The company is located in Kano.
Another Contributor to Dantata’s Wealth is His Automobil Company
Aminu Dantata is a major shareholder in his family’s automobile company, Dantata Motors Ltd. This company was incorporated in 1977 and did lucrative business back in the day. According to reports, the company at a point held a Mercedez Benz dealership, and it imported saloon cars from Germany.
Aminu Dantata is One of the Organizers of Jaiz Bank
In order to promote Islamic banking, Aminu Dantata became one of the organizers of Jaiz Bank Plc. According to a Wikipedia report, by 2018, the bank made an after-tax revenue of $26.56 million, while its total asset was $286.2 million.
By 2021, the bank grew by about 43% before tax. At the time, shareholders’ funds for the period grew by 36.20% from #17.87 billion to #24.31 billion. Since Animu is a major shareholder and organizer of the bank, it is safe to say that he may have made millions from the organization. This has definitely added to his $1 billion net worth
Jaiz is not the only financial institution that Dantata has been involved in. In the early 1960s, he was among the pioneer board members of the Nigerian Industrial Development Bank, which is now known as the Bank of Industries. He served as Director of the Bank between 1962 and 1966.
Oil and Gas Also Contributes To Alhaji Dantata’s Net Worth
Alhaji Dantata is into oil and gas, and this has been a major contributor to his wealth. He is the founder and chairman of Express Petroleum & Gas Company Ltd. The company was created in the 1990s and has generated over a billion Naira to add up to Dantata’s net worth.
Also, Sahara Reporters claim that the serial business mogul has an oil block he leases to Conoco Philips, who developed and farmed the wells. The claim is that although Aminu has not invested in the wells, he gets about 23% of the total sales profit from the oil block.
The report further claimed that Dantata owed the Federal government of Nigeria about $194 million in unpaid taxes and royalties he made from the oil wells. Whatever the case, the oil wells serve as major contributors to Aminu Dantata’s $1 billion net worth.
Other Subsidiaries and Investments of Aminu Dantata
- International Services Nigeria Ltd
- Niger Soap Factory Ltd
- Bebeji Aluminium Industry Ltd
- Dantata Investments & Security Ltd
- Nigeria Reptiles Exporters Ltd
- Namco Nigeria Ltd
- Alhassan Dantata and Sons Ltd
- Sea Dantainer Lines Ltd
- Alhassan Dantata and Sons Merchandise Ltd
- Sharad Engineering Industries Ltd
- Bulk Commodities Nig Ltd
- Main Line Transport Ltd
- Dantata Motors Ltd.
- Flour Mills Nigeria
The Kano State Native Businessman Has Had a Long Career in Politics
Alhaji Aminu Dantata, the chairman of Alhassan & Sons, has also gathered a part of his wealth from his long-lasting political career. According to a Daily Trust report, the famous Dantata is a one-time member of the House of Representatives who represented Kaduna during the First Republic.
Then, an article from Al-Qalam University Katsina, where he holds the position of chancellor, reports that Aminu was elected a member of the Northern House of Assembly in 1966.
Moreso, he was an executive member of the Kano Provincial Council. His political career led to his serving as an executive member of the newly formed Kano State in 1967.
During the military regime of General Yakubu Gowon, Dantata served as a commissioner of Trade and Industry while Audu Bako was the governor of the State.
Despite being involved in politics and even holding important positions, Aminu says he does not consider himself a politician. Yet, this does not change the fact that his earliest career in politics added to his wealth.
Aminu Dantata Owned 87% of the Shares of the Defunct Fine Text Textile Company
Dantata has investments in the agricultural sector. His farm is situated in the Kura area of Kano State, and it covers over 5,000 hectares. Although the farm was put on hold at a point, he announced in 2020 that he was considering reviving it. Moreso, he intended to plant rice and maize; and also create more jobs while adding to Nigeria’s economic growth.
Away from the farm, Dantata owned 87% shares in Fine Text Textile Company in Kaduna State. Initially, the company was one of the most lucrative, and the textile industry equally made up one of Nigeria’s most flourishing industries.
The company crumbled as the textile industry in Nigeria also crumbled. However, Alhaji Aminu also spoke about his intentions to reopen the company.
A Look at How Dantata Spends His Fortune
The wealthy but simple man spends his fortune on investments, travels, houses, and also in philanthropy, among others. Of all of these ways, Aminu has often been praised for taking care of the poor within his community, especially Kano.
Of course, Aminu Dantata’s family is known for giving to the poor, and it is not surprising that he toed the same path. In fact, on his father, Alhassan Dantata’s dying bed, one of the things that he asked of his descendants was to care for people, especially the poor among them.
This being said, Aminu is famed for spending a part of his fortune in providing funding to small and medium-scale businesses. The spearhead of Alhassan Dantata & Sons Ltd. has been revealed to feed about an average of 100 people daily at his residence in Kano.
A report claims that some days, the number of people who visit the billionaire’s home in Kano is about 300. These people come to pay homage and eat at his residence, and he has been accommodating and feeding them for about 50 years.
In fact, the report went as far as making it known that the billionaire’s home at Koki Quarters in Kano could easily pass as a local Mecca to some of these people (mostly needy).
Additionally, there are reports that he completed projects worth ₦400 million across Kano State. He has also contributed to education among other sectors within Nigeria, especially in the northern region. In 2021, he awarded scholarships to 100 students at Al-Istiqama University, Sumaila, Kano State. The scholarship will see them throughout the period (mostly 4 years) of their studies.
He Spends a Part of His Fortune Visiting Some Major Countries in the World
As part of how the business magnate spends his fortune, he has visited numerous countries in the world. In fact, in the 1950s, when many Nigerians couldn’t leave the shores of the country, he had already visited China, Brazil, Russia, and Yugoslavia, to mention a few.
Then, by 1961, he had already toured all Arab countries and Israel. He also continues to travel to many other countries, mostly because of business.
Aminu Dantata’s Houses
Aminu is the owner of numerous cars and houses. In fact, the Kano State native is into real estate, and as such, he has numerous houses in different locations in Nigeria. Furthermore, he has a housing estate called Aminu Dantata Housing Estate Gwammaja Kano. Regardless, his most renowned home is his Koki residence in Kano State.
Aminu Dantata’s Cars
Since Dantata rarely shows off his wealth and his complete asset remains shadowy, the exact number of his cars remains unknown. Irrespective of this, it is known that he owned one of the first Mercedez Benz cars to be imported into Nigeria.
According to a report by Robtakes, the businessman gifted the late Emir of Kano, Ado Bayero, the car in 1967. The car’s worth may be shadowy but will cost millions if calculated into today’s money.
In fact, it has also been reported that he was among the very wealthy Nigerians to have gifted the same Emir limousines. Others are Sani Abacha, and Isiaka Rabiu.