Aliko Dangote Unveils Plans to Expand into Steel, Power, Ports
- Aliko Dangote has announced plans to expand into steel manufacturing, electricity generation and port infrastructure
- The Dangote Refinery currently produces about 650,000 barrels daily, with plans to double output within three years
- Dangote said Africa must prioritise large-scale manufacturing over commodity exports to boost industrialisation
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
President of the Dangote Group, Aliko Dangote, has unveiled plans to expand into steel production, electricity generation, and port infrastructure as part of a broader strategy to accelerate industrialisation across Africa, The SUN reported.
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Dangote, whose conglomerate operates in cement, sugar, salt, fertiliser and petrochemicals, said Africa must reduce its dependence on commodity exports and prioritise large-scale manufacturing capable of competing globally.
Dangote says ambition for Africa beyond refinery
He stressed that petroleum refining is only one component of a wider ambition to reshape the continent’s economic structure.
The Dangote Petroleum Refinery is currently producing about 650,000 barrels of refined products per day. According to him, output is projected to double within the next three years as expansion plans advance.
In a recent interview with The New York Times, Dangote described the refinery as a foundation rather than the final phase of his industrial drive. He identified steel manufacturing, power generation, and port development as the next strategic priorities.
Analysts note that entry into steel would place the group at the centre of infrastructure and heavy manufacturing supply chains, as steel remains essential for roads, bridges, rail systems and housing.
Dangote to expand industrial footprint
Investments in electricity and ports could also help address long-standing structural bottlenecks in Nigeria, including unreliable power supply and port congestion, which have raised production costs and weakened competitiveness.
Dangote cited India’s Tata Group as a model for diversified industrial growth, pointing to its broad sectoral footprint as an example of how large-scale enterprises can drive sustainable development in emerging economies.
Job creation, he said, is central to the expansion plan. With Nigeria projected to require between 40 and 50 million new jobs by 2030, Dangote argued that transformative industrial projects are necessary to absorb the country’s growing workforce.
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Dangote refinery employs over 30,000 workers
He disclosed that the refinery currently employs about 30,000 workers, approximately 80% of them Nigerians. With planned investments in steel, power and port operations, total employment within the group is expected to increase to about 65,000.
Dangote also announced plans to list shares of the refinery on the Nigerian stock exchange, a move aimed at widening ownership and allowing local investors to participate in the project.
While acknowledging infrastructure gaps and crude supply constraints, he maintained that these challenges would not derail the group’s long-term strategy, emphasising the importance of bold private-sector investment in unlocking Africa’s industrial potential.
Industry observers say the planned diversification signals a shift from dominance in specific sectors to a more integrated industrial model designed to strengthen manufacturing capacity and long-term economic resilience across the continent.
Damgote refinery raises diesel price
Legit.ng earlier reported that the Dangote Petroleum Refinery has increased its ex-depot price of Automotive Gas Oil (AGO), also known as diesel, from N880 per litre to N1,050 per litre.
This hike of N170 is expected to influence pricing across private depots and bulk supply chains.
The renewed price pressure in Nigeria’s diesel market is influenced by rising global crude oil prices, largely attributed to the ongoing Middle East conflict and concerns over supply disruptions.
Source: Legit.ng
