Dangote Group plans to spend about $50 billion in capital expenditure (capex) between 2026 and 2030, doubling the $25 billion it invested during the previous five-year period.
Aliyu Suleiman, Group Chief Strategy Officer of Dangote Industries Limited, disclosed this during a briefing on Friday when Kenyan President William Ruto visited the Dangote Petroleum Refinery in Lagos.
The investment forms part of the group’s Vision 2030 strategy to expand its industrial footprint across Africa and grow into a $100 billion company.
Dangote Group concluded its previous five-year capex programme at the end of 2025 after investing about $25 billion in projects including the Dangote Petroleum Refinery, Dangote Fertiliser plant and several cement production facilities.
The group has now reviewed its next phase of growth and plans to significantly increase investment rather than slow its expansion.
Suleiman said the group is targeting about $50 billion in capex between 2026 and 2030, representing twice the amount invested during the previous five-year period.
Suleiman said Dangote has also identified opportunities that could exceed its $100 billion target, while the planned East Africa refinery in Kenya is a major component of the expansion strategy.
Dangote Group said it has assessed how it will finance the planned investment programme, including forecasts for revenues, earnings, profits and cash flows expected from the projects.
The group said it has financing arrangements for the equity component, while commitments have also been received from financiers for the debt component.
Dangote is also preparing to develop a 700,000-barrels-per-day greenfield refinery and petrochemical plant in Lamu, Kenya. The project has been estimated at about $17 billion and was previously projected to take about five years to complete.
The Kenyan government has finalised preparations for the September 30, 2026 launch of the East Africa Oil Refinery project in Lamu, with President William Ruto expected to lead the groundbreaking ceremony.
Dangote Group has also signed a deal worth more than $450 million with Engineers India Ltd. to oversee project management and engineering, procurement and construction management services for the facility.
Dangote Group is also expanding its petroleum refining operations in Nigeria, with plans to increase the Dangote Petroleum Refinery’s crude-processing capacity from 700,000 barrels per day to about 1.4 million barrels per day. The expansion involves adding another 750,000-barrels-per-day crude oil distillation unit.
The increase has coincided with the expansion of Dangote Refinery’s operations, with the facility exporting refined products to markets across Africa and Europe. The developments form part of Dangote Group’s broader strategy of developing businesses in Nigeria and subsequently scaling its expansion into other African markets.
