President of the Dangote Group, Aliko Dangote, has unveiled plans to expand into steel production, electricity generation and port development as part of a broader strategy to accelerate industrialisation across Africa.
Dangote, whose conglomerate spans cement, sugar, salt, fertiliser and petrochemicals, said his long-term vision is to deepen Africa’s manufacturing base beyond oil refining and position the continent as a global industrial force.
His latest flagship project, the Dangote Petroleum Refinery & Petrochemicals, is now operational, producing about 650,000 barrels of refined products daily. He said output is expected to double within the next three years as expansion plans progress.
In a recent interview with The New York Times, Dangote indicated that refining represents only one phase of a much larger ambition.
“We have to industrialise Africa,” he said, identifying steel manufacturing, expanded electricity access and additional port infrastructure as his next focus areas to support large-scale manufacturing and trade.
Industry analysts note that entry into steel would position the group in a sector critical to infrastructure, housing and heavy industry. Meanwhile, investments in power and ports could address two of Nigeria’s most persistent constraints to economic growth.
Dangote cited Tata Group as a model for diversified industrial expansion, describing the conglomerate’s multi-sector footprint as an example of how large-scale manufacturing can transform emerging economies.
Beyond expansion, he emphasised job creation as central to his strategy. With Nigeria projected to require between 40 and 50 million new jobs by 2030, he argued that large-scale industrial projects are essential to absorbing the country’s growing youth population.
The refinery alone currently employs about 30,000 workers, approximately 80 per cent of them Nigerians. Expansion into new sectors is expected to raise total employment within the group to about 65,000.
Dangote also announced plans to list shares in the refinery on the Nigerian stock market, a move aimed at broadening local participation in the asset.
Despite the progress, he acknowledged that infrastructure gaps and crude supply challenges remain significant obstacles. He has previously raised concerns about logistics bottlenecks and inefficiencies in the oil value chain that complicate feedstock supply to the refinery.
Nevertheless, Dangote said the group would continue to invest aggressively in sectors that reduce import dependence and retain economic value within Africa.
“Nobody dared to do it, so we did it,” he said, reiterating his belief that large-scale private investment is key to transforming Nigeria’s industrial landscape.
With cement plants operating across multiple African countries and a refinery that has reshaped Nigeria’s downstream outlook, Dangote’s planned expansion into steel, electricity and port infrastructure signals a new phase in his ambition to industrialise the continent.
