Dangote Group to Invest $50 Billion in Africa Expansion

Dangote Group announced plans to invest approximately $50 billion in capital expenditure (capex) between 2026 and 2030, which is double the $25 billion spent during the 2020-2025 period. Aliyu Suleiman, Group Chief Strategy Officer of Dangote Industries Limited, revealed this during a briefing with Kenyan President William Ruto at the Dangote Petroleum Refinery in Lagos.

This investment is part of the group’s Vision 2030 strategy to enhance its industrial footprint across Africa and aims to grow the company into a $100 billion entity. The previous five-year capex program concluded at the end of 2025, focusing on projects such as the Dangote Petroleum Refinery and Dangote Fertiliser plant.

The group is also preparing to develop a $17 billion greenfield refinery and petrochemical plant in Lamu, Kenya, with a planned launch on September 30, 2026. Additionally, Dangote Group is expanding its Nigerian operations, increasing the Dangote Petroleum Refinery's capacity from 700,000 barrels per day to 1.4 million barrels per day.