Aliko Dangote unveils a bold $100bn expansion vision by 2030, aiming to cut fuel prices, boost jobs, and drive Africa’s industrial self-sufficiency
Aliko Dangote has set his sights on transforming the Dangote Group into a $100 billion powerhouse by 2030, outlining an audacious strategy to double production capacity and slash fuel prices across Africa.
Also read: Dangote opens door for NNPC to raise refinery stake
Speaking at the Afreximbank Legacy Conference in Cairo, Egypt, the President of the Dangote Group said the next phase of growth would focus on industrial expansion, regional integration, and greater self-sufficiency across energy, manufacturing, and infrastructure.
Dangote, whose net worth is estimated at $30.2 billion, revealed that the Group’s refinery output will be expanded to cut petroleum product prices by up to 50 per cent a move expected to boost affordability and competitiveness across Africa’s energy markets.
“Our ambition is not just to build factories, but to build Africa’s capacity to feed, power, and industrialise itself,” Aliko Dangote declared confidently.
“By 2030, the Dangote Group will be a $100 billion organisation driven by innovation, integration, and impact.”
Currently valued at over $30 billion, the Dangote Group’s diverse interests span cement, sugar, salt, fertiliser, and the record-breaking Dangote Refinery the largest single-train refinery in the world.
The billionaire industrialist reaffirmed his commitment to scaling up output across all divisions, aiming to boost local production and reduce Africa’s dependence on imports.
He also expressed optimism that the Group’s bold target is attainable through its enduring partnership with Afreximbank, led by incoming President Dr George Elombi.
“Your leadership commitment will help Africa stop exporting jobs and importing poverty,” Dangote said. “We must challenge ourselves to set lofty goals and build a continent that prospers through its own strength.”
The business magnate underscored the need for strong leadership to drive industrial growth and inclusive prosperity.
He added that the Group’s Vision 2030 strategy would hinge on collaboration with continental financial institutions to fund transformative, job-creating projects.
Dangote emphasised the importance of local value addition and intra-African trade, asserting that Africa must focus on processing its raw materials to strengthen supply chains.
“We can no longer afford to export raw materials and import finished goods,” he said. “Africa must become a continent that produces, processes, and prospers.”
At the event, business and government leaders lauded Aliko Dangote for his unwavering commitment to Africa’s industrialisation.
They noted that his ventures have already generated tens of thousands of jobs, positioning Nigeria as a key player in cement, fertiliser, and soon, refined petroleum exports.
Also read: Nigeria imports 69% of petrol despite Dangote refinery output
Dangote’s announcement comes amid growing calls for Africa’s private sector to deepen investments in infrastructure, value-added industries, and trade-enabling initiatives, reinforcing his status as a trailblazer in the continent’s economic transformation.
