Dangote Plans $65 Billion Investment, 90,000 Jobs in Africa

Aliko Dangote, President and Chief Executive of Dangote Industries Limited, announced that the group expects to employ over 90,000 people at its petroleum refinery and fertiliser operations in Lagos next year. This initiative is part of a broader investment programme projected to reach $65 billion over four years, which includes refining, petrochemicals, power, and pipelines.

Dangote emphasized the need for job creation in Africa, particularly for its youthful population, and outlined plans to establish 20 fertiliser blending plants across the continent to improve farmers' access to essential inputs. The refinery expansion will increase processing capacity by 700,000 barrels per day, totaling approximately 1.4 million barrels per day.

Additionally, the group aims for nine million tonnes of urea capacity and plans to mine potash and phosphate in Congo-Brazzaville. Dangote's goal is to ensure reliable fertiliser availability for farmers throughout the year, eliminating the uncertainties associated with imports.