Dangote Group is ramping up plans to expand its industrial footprint, targeting up to 1.4 million barrels per day (bpd) in refining capacity under a $40 billion investment drive backed by the African Export-Import Bank.
The ambitious five-year plan, tagged Vision 2030, outlines a two-phase strategy to scale operations across refining, fertiliser production, and other key sectors between 2025 and 2030.
At the core of the strategy is the expansion of the Dangote Petroleum Refinery from its current 650,000 bpd capacity to 1.4 million bpd.
The group also plans to quadruple fertiliser production from 3 million tonnes per annum to 12 million tonnes, positioning itself as the world’s largest urea producer.
Beyond oil and fertiliser, the expansion will extend to cement, rice, and food production, alongside new investments in infrastructure such as ports and pipelines, as well as gas, mining, power, and data centres.
As part of the funding plan, Dangote secured a $2.5 billion facility from Afreximbank, contributing to a broader $4 billion syndicated loan for its refinery and petrochemicals business.
Aliko Dangote, President of the Group, described the partnership as a shared vision to deepen Africa’s industrial capacity and reduce dependence on imports.
George Elombi, Afreximbank President, said the deal reflects a common goal of unlocking Africa’s economic potential and ensuring the continent benefits from its own resources.
The investment is expected to boost energy security, improve fertiliser self-sufficiency, and accelerate industrialisation across Africa.
