Dangote Group has unveiled an ambitious 2030 growth plan that targets more than $115 billion in annual turnover and $35 billion in annual profit, backed by nearly $50 billion in planned investments across Africa.
The strategy, known as Vision 2030, includes an $8 billion Liquefied Natural Gas (LNG) plant in Nigeria with a planned capacity of 13 million metric tonnes per annum.
Group President and Chief Executive Officer, Aliko Dangote, disclosed the plans during a visit by Kenyan President William Ruto to the Dangote Petroleum Refinery and Petrochemicals Complex in Ibeju-Lekki, Lagos.
According to the group, the new investments will extend beyond refining and cement into LNG, gas infrastructure, power, mining, ports and upstream oil and gas.
Dangote said the group expects its existing businesses and secured debt commitments to provide the financial foundation for the planned investments.
The group is also seeking to unlock additional value through the ongoing initial public offering of Dangote Refinery.
The proposed LNG project is one of the major new ventures under the 2030 plan. Dangote said it is currently the only project in the portfolio that has not yet moved from the ground-up development stage.
The group is also expanding its refining footprint beyond Nigeria.
In Kenya, Dangote is developing a new refinery in Lamu with a proposed capacity of 700,000 barrels per day. The project, estimated at between $15 billion and $17 billion, is expected to become part of a wider energy and industrial complex.
The first major shipment of construction materials for the Lamu project has already arrived at Lamu Port ahead of the planned groundbreaking ceremony on September 30.
Dangote Group said its broader African expansion is aimed at strengthening its position across key industrial sectors while increasing the scale of its operations and exports.
The group currently operates the Dangote Petroleum Refinery, Africa’s largest single-train refinery, alongside cement, fertiliser, petrochemical, gas and power businesses.
Under the Vision 2030 plan, the company expects these businesses, alongside its planned investments, to generate sufficient cash flow to support continued expansion.
Dangote also indicated that the group’s long-term strategy is designed to create a much larger and more diversified African industrial conglomerate, with operations spanning energy, infrastructure and natural resources.
The scale of the ambition marks a significant expansion from Dangote Group’s current operations, with the company positioning LNG, refining and other energy projects as major drivers of future growth.
