Vision 2030: Dangote Targets $100bn Revenue and Global Top-100 Ranking

Africa’s richest industrialist, Alhaji Aliko Dangote, says the Dangote Group is on course to become a $100 billion-revenue enterprise by 2030.

According to him, this would place the company among the world’s 100 largest companies as the conglomerate deepens its expansion across energy, petrochemicals, fertiliser, cement and agro-industrials.

Speaking in Lagos on Thursday at a high-level stakeholders’ forum attended by top government officials, financial sector leaders and global partners, Dangote outlined a sweeping five-year plan he described as “bold, deliberate and fully achievable,” anchored on large-scale export growth and Africa-focused industrial transformation.

He paid tribute to the Vice-President Kashim Shettima for honouring the event despite his demanding schedule, while also recognising traditional leaders, partners and financiers who supported the group’s decade-long journey to complete some of Africa’s biggest industrial projects, including the $19 billion petroleum refinery in Lagos.

‘A defining moment for African industrialisation’

Dangote said the group has reached a strategic inflection point after investing more than $25 billion in new industrial capacity over the last ten years.

The conglomerate now operates dominant positions in cement across 11 African markets, a growing petroleum and petrochemical complex, Africa’s second-largest fertiliser plant, and strong local franchises in sugar, salt and essential commodities.

Group revenues, he disclosed, have risen from $3.3 billion to $18 billion in five years, while EBITDA has grown from $1.8 billion to $2.8 billion. Governance structures have also been strengthened with a refreshed board and enhanced leadership systems.

“We have consistently demonstrated that Africa can build world-class industrial enterprises,” Dangote said. “Our philosophy has remained constant: choose sectors wisely, align with national priorities, build at scale, produce competitively and replace imports with African-made products.”

$100bn revenue amidst international listing

Outlining the group’s Vision 2030, Dangote announced plans to grow annual revenues to $100 billion, raise market capitalisation to over $200 billion and undertake an international listing since the Nigerian market alone “will not be able to accommodate the scale we are targeting”.

He said shareholders would be able to receive dividends in US dollars, noting that the group’s export earnings would be more than sufficient to support the policy without drawing forex from the Central Bank of Nigeria (CBN)

“Our ambition is measurable and grounded in hard numbers,” Dangote said, adding that “We are confident because the projects that will deliver this growth are already in motion.”

Refinery to double capacity, build Africa-wide pipeline network

The Dangote Refinery, he noted, has begun shipping products to global markets and will increasingly meet the entire petroleum product demand of Nigeria and the Atlantic coastline from Senegal to South Africa.

He highlighted the key targets of the refinery expansion plan to include doubling capacity to 1.4 million barrels per day, completing the RFCC unit by January, expanding LPG production, and commissioning Africa’s first large-scale Linear Alkyl Benzene plant for detergent manufacturers.

According to him, the group will also produce 2.4 million tonnes of polypropylene, far above domestic demand.

In addition, Dangote revealed plans to build a 3,150-kilometre multi-country pipeline network to supply petroleum products across the continent. “This will structurally reshape Africa’s energy balance,” he said.

Fertilizer, cement and sugar businesses on new targets  

Dangote announced that the group is scaling fertiliser capacity to 12 million tonnes annually, including new plants in Nigeria and Ethiopia, positioning it to become the world’s largest producer and Africa’s dominant supplier.

“With this capacity, African leaders will never again need to plead for fertiliser supply during global crises,” he said.

The company aims to retain its leadership in cement while expanding export operations from its terminals in Onne, Apapa and soon Lekki. Installed capacity will rise to 62 million tonnes next year and 80 million tonnes by 2030.

The Ibese facility alone is expected to generate $500 million in annual export earnings, Dangote said.

Dangote reaffirmed commitments to backward integration in sugar, targeting nearly 500,000 tonnes of local production, and said the group is in talks with authorities in Togo and Ghana to expand regional operations. The group also plans to complete its 1-million-tonne rice project.

Legacy above profit

The industrialist stressed that the group’s long-term investments go beyond commercial gain.

According to him, “Our journey is not just about money; it is about legacy. We are building what Africa needs — industries that will outlive us and strengthen the continent’s economic sovereignty,” he said,

To support Vision 2030, Dangote said the group is deepening governance reforms, improving execution discipline and bringing in global industry experts. Some leadership announcements, he added, will be made in the coming weeks.

Call for global investors and policy stability

Dangote emphasised that the next phase of growth requires attracting global institutional investors who often hesitate due to perceived uncertainty around African investment environments.

“We will remove that fear,” he said, continuing, “Africa is ready for long-term capital, and we will demonstrate that our projects are stable, predictable and globally competitive.”

He thanked the Africa Finance Corporation and the group’s banking partners, noting that their support had been “instrumental” to the conglomerate’s progress.