<\/p>\n
Aliko Dangote is betting that Africa\u2019s largest refinery, the continent\u2019s biggest cement producer and his fertiliser businesses will expand his empire fivefold to $100 billion by the end of the decade.<\/p>\n
The Dangote Group\u2019s revenue is currently at about $20 billion, Fatima Dangote, group executive director for oil and gas, said in an interview in Lagos. The company forecasts the figure will jump to $80 billion in three years and to $100 billion by 2030, she said, giving financial details for the first time.<\/p>\n
Dangote\u2019s businesses have been boosted by the US war against Iran and the effective closure of the Strait of Hormuz, which have caused fuel and fertiliser prices to soar. In large part because of that, his wealth has jumped 17% this year to a record high of $35 billion, according to the Bloomberg Billionaires Index.<\/p>\n
Africa\u2019s richest man is reshaping his empire while elevating the roles of his three daughters.<\/p>\n
The planned expansion will require about $40 billion of investment, which Dangote plans to help finance through what could be Africa\u2019s biggest initial public offering of his refinery business, the sale of a stake in his fertilizer unit and a London secondary listing of his cement company.<\/p>\n
\u201cWhat drives all of us is to see that we actually attain this vision 2030,\u201d Fatima said. \u201cThe vision 2030 is not the end. It\u2019s just the beginning.\u201d<\/p>\n
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The expansion is taking place along with a generational shift. While Aliko Dangote remains chairman, his three daughters are increasingly overseeing key parts of the business. Fatima is a senior executive in the oil and gas division, Mariya is helping lead the cement company\u2019s growth, and Halima oversees the family office from Dubai.<\/p>\n
The refinery is key to the group\u2019s strategy. The facility reached full production weeks before the start of the US-Israeli war on Iran on Feb. 28, underscoring the plants\u2019s strategic value to buyers seeking to diversify fuel supplies away from the Middle East, and bolstering Dangote\u2019s appeal to both investors in Africa and beyond.<\/p>\n
The group is currently in the process of doubling the capacity of the 700,000-barrels-per-day facility by 2028. At the same time, it\u2019s agreed to replicate its Lagos refinery in the coastal town of Lamu in Kenya. That plant is expected to cost $17 billion and will take about five years to build.<\/p>\n<\/p>\n
Dangote has two other listed businesses, Dangote Sugar Refinery Plc and a salt company, NASCON Allied Industries Plc. The group also has a majority stake in Peugeot Automobile Nigeria, which assembles passenger vehicles. Other businesses include shipping, ports, power, mining and real estate.<\/p>\n
Fertilizer is emerging as another important pillar. The group is expanding its Lagos plant to 6 million tons a year while building a facility in Ethiopia. The projects would lift total capacity to 12 million tons annually, cementing Dangote\u2019s position among the world\u2019s largest urea producers that capitalizes on Nigeria\u2019s abundant natural gas.<\/p>\n
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Meanwhile, the cement business has been the group\u2019s cash cow. The group had earlier announced plans to invest $1 billion to increase capacity to 80 million tons a year by 2030. Dangote Cement Plc has total installed production capacity of 55 million tons a year across its 11 plants in 10 African countries.<\/p>\n
Unlike previous expansions, Dangote\u2019s biggest businesses are now moving into commercial production simultaneously, which will help Dangote fast-track his move toward his target.<\/p>\n
To meet his goals, Dangote will require continued access to capital at a time of heightened geopolitical tensions, currency volatility across Africa and uncertainty over global energy markets. The group will also need to secure enough crude to support plans to double refining capacity, which can be a challenge that the group has had to deal with in the past.<\/p>\n
To fund its next phase of growth, Dangote is courting investors from Africa, the Middle East and other international markets through equity sales and public listings.<\/p>\n
\u201cWe are already an African giant and we attract a lot of investors both locally and internationally,\u201d said Halima Dangote.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Dangote #targets #100bn #empire #oil #fertilisers<\/p>\n","protected":false},"excerpt":{"rendered":"
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