Dangote Group is setting its sights on another major phase of expansion, with the Nigerian conglomerate planning to invest about $45 billion across its businesses over the coming years.
The group has set an ambitious target of generating $100 billion in annual revenue by 2030, as it looks to expand its operations in cement, oil refining, fertiliser, energy and other industrial sectors.
Cement Business Remains a Major Growth Driver
Dangote Cement is expected to play an important role in the group’s expansion plans.
The company currently has production capacity of about 55 million tonnes per year across 11 African countries and is targeting more than 80 million tonnes annually by 2030.
According to figures from the company’s latest capital-markets presentation, Dangote Cement generated about $3.1 billion in revenue in the 12 months to June 2026, representing a 22 per cent increase compared with the previous year.
The company is also expanding into related construction products, including aggregates, ready-mix concrete, mortars and other building materials.
Refinery Expansion Also on the Agenda
The Dangote Petroleum Refinery is another major part of the group’s long-term plans.
The refinery, which currently has capacity of about 650,000–700,000 barrels per day, is being positioned for a major expansion that could take capacity to approximately 1.4 million barrels per day. Reuters previously reported that the planned expansion could require about $14.3 billion.
The refinery has also recently attracted significant attention following the launch of its public share offering on the Nigerian Exchange.
The IPO opened on September 14, with 4.1 billion shares offered at ₦525 per share, potentially raising about ₦2.15 trillion if fully subscribed.
Looking Beyond Nigeria
The new strategy shows Dangote Group’s broader push to grow its industrial footprint across Africa and other markets.
The company is looking to use internally generated cash from established businesses such as cement to support further investments in refining, fertiliser, energy and infrastructure.
With billions of dollars earmarked for expansion, the group’s plans could significantly increase its industrial capacity over the coming years.
For now, Dangote Group’s focus is on turning its existing businesses into stronger sources of cash while continuing to invest in new projects across Africa.
Source: Reuters, Dangote Industries and other business reports