By Abdul Lauya
Following the death of Nigerian business magnate Alhaji Aminu Dantata on June 28, 2025, several unverified claims have circulated widely on social media regarding the extent of his wealth and assets. A thorough fact-check reveals that many of these assertions are either exaggerated or entirely unsupported by credible evidence.
Alhaji Dantata, 94, was a respected industrialist, philanthropist, and the last surviving member of the renowned Dantata business dynasty. He was buried in Medina, Saudi Arabia, in accordance with his wishes, as confirmed by ICIR Nigeria and other national outlets.
In the days following his burial, a viral post alleged that Dantata left behind ₦61 trillion in liquid cash, over 800 petrol stations, 500 houses in Kano alone, 1,200 plots of undeveloped land, and ₦30 trillion worth of shares in various companies. It also claimed he owned 10 private jets and had more than 400 vehicles.
However, no verifiable sources support these specific figures.
Implausible Wealth Figures:
The claim that Dantata left behind ₦61 trillion (approximately $30 billion USD) in cash is not substantiated by any official documentation or family statement. By comparison, Nigeria’s entire 2024 federal budget was ₦27.5 trillion. According to financial experts, it is implausible for any individual in Nigeria to have maintained such a liquid cash reserve without public documentation or scrutiny.
Similarly, the alleged ₦30 trillion in company shares lacks supporting evidence. While Dantata did hold extensive business interests across industries such as oil, construction, agriculture, and banking, no credible estimates put his net worth in the trillions of naira.
“There’s no data from the Corporate Affairs Commission or the Nigerian Stock Exchange suggesting such levels of ownership,” said a financial analyst who requested anonymity due to the sensitivity of the topic.
Business Assets: A Legacy of Influence, Not Excess:
Dantata’s involvement in the oil and gas sector, particularly through Express Petroleum & Gas, has been well documented. Yet there is no public record or company disclosure confirming he owned 800 petrol stations.
Likewise, claims about owning 500 houses in Kano and 1,200 empty plots remain unverified. Though Dantata was known for his significant real estate holdings in Northern Nigeria, no estate records or official inventories released posthumously support such high figures.
As for the alleged fleet of 400 vehicles and 10 private jets, these numbers also appear inflated. In a previous interview, Dantata reportedly mentioned purchasing a private aircraft in the 1960s for £10,000—a sum equivalent to about $15,000 at the time. A more recent report by The Nation noted he acquired a private jet in 2008 for approximately $38 million, but no source confirms he maintained a fleet of 10 jets worth billions.
Family and Burial Confirmed:
One aspect of the viral claims that holds up to scrutiny is his large family. Alhaji Dantata was known to have married multiple times and had numerous children and grandchildren. Though the exact number is disputed, claims that he had four wives and over 45 children align with past biographical accounts.
His burial in Medina was officially confirmed by multiple outlets, including Channels TV and ICIR Nigeria, which reported that it was in accordance with his final wishes.
Fack-check Verdict:
While Alhaji Aminu Dantata’s wealth, philanthropy, and business acumen are undeniable, the exaggerated claims currently circulating online are not supported by credible evidence. Like many figures of great influence, his legacy is more accurately measured by his long-standing impact on commerce, philanthropy, and the community than by inflated figures with no official basis.
Readers are advised to verify such claims with credible sources and avoid spreading unsubstantiated information.
Sources:
ICIR Nigeria: “Aminu Dantata Honoured in Kano, To Be Laid to Rest in Saudi Arabia”
The Nation: “Aminu Dantata (1931–2025)”
Channels TV: “Business Icon Aminu Dantata Dies at 94”
Corporate Affairs Commission (CAC), Nigeria
Nigerian National Budget 2024
