After Shutting Down Six Businesses, Dangote Announces Three New Multi-billion Dollar Firms
- Dangote plans to invest over $10 billion in Africa’s electricity sector, potentially redirecting funds from other proposed ventures
- His $3.5 billion petroleum pipeline could span Southern Africa, strengthening distribution as Dangote expands refining capacity
- The billionaire is also pursuing a shipping fleet to transport products, integrate operations and rebuild his empire after costly business exits
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Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Africa’s richest man, Aliko Dangote, is preparing another major expansion of his business empire, with plans spanning electricity, petroleum pipelines and shipping.
The new ventures come after the Nigerian billionaire previously exited or shut businesses in sectors including textiles, flour, banking, telecommunications, aviation and tomato processing.
Source: Getty Images
Dangote’s latest expansion is closely tied to his growing energy business, particularly the Dangote Petroleum Refinery, which currently has a capacity of about 700,000 barrels per day and is undergoing an expansion designed to double capacity to 1.4 million barrels per day by 2029, the company noted.
Here are three major ventures Dangote is now pursuing.
1. Dangote plans over $10 billion investment in power
Power could become one of the biggest new pillars of the Dangote business empire.
Dangote disclosed that his group intends to invest more than $10 billion in Africa’s electricity sector over the next three to four years as part of efforts to tackle the continent’s chronic power shortages.
The billionaire said the group could cancel one or two planned businesses and redirect the money into electricity.
One project that could be affected is its proposed steel investment, according to a report by The Guardian
Dangote said unreliable electricity remains one of the biggest obstacles to industrialisation and investment in Africa.
For Nigeria, the planned investment could be significant. Manufacturers have repeatedly identified electricity costs and unreliable supply as major pressures on production, forcing many companies to rely on alternative power sources.
The proposed $10 billion-plus investment would also mark a significant expansion from Dangote Group’s existing energy operations. The conglomerate already generates captive electricity for some of its industrial plants.
2. $3.5 billion pipeline stretching across Southern Africa
Dangote is also preparing an ambitious petroleum-products pipeline estimated to cost more than $3.5 billion.
The roughly 2,650-kilometre project is expected to begin in Namibia and connect Botswana and South Africa, forming part of a wider network that could eventually extend through Zimbabwe and Zambia to the Democratic Republic of Congo.
Dangote said the Southern African project is only one component of a broader pipeline programme that could eventually give the group close to 4,000 kilometres of pipeline infrastructure across Africa.
The network could provide another distribution channel for refined petroleum products as Dangote expands its refining capacity.
The billionaire previously said the pipeline project would be launched in October, with the initial network stretching between 2,620 and 2,650 kilometres, Reuters reported.
It represents a shift beyond simply producing petroleum products towards controlling more of the infrastructure required to move them to consumers across Africa.
3. Dangote moves into large-scale shipping
Shipping is another area Dangote is targeting as his refinery and other industrial businesses expand.
The Dangote Group plans to build a new fleet of vessels, with Chinese shipyards being considered for the orders. The first deliveries could arrive from around 2029, according to a report by Billionaires Africa.
The vessels would help transport petroleum products and other commodities produced by the group across West and Central Africa.
Dangote Group Vice President for Oil, Gas and Fertiliser Devakumar Edwin said the conglomerate is looking to negotiate directly with Chinese shipbuilders for new vessels.
The scale could be substantial. Vessel calls connected to the group’s operations could eventually rise from roughly 300 annually to as many as 1,800 as its refinery, fertiliser, cement and other businesses expand.
Building its own fleet could reduce Dangote’s dependence on third-party shipping companies while giving the group greater control over freight costs and product distribution.
Dangote rebuilds after costly business exits
The three ventures highlight another phase in Dangote’s strategy after previous investments failed to meet expectations.
His textile operations were among the most painful. Dangote has described textiles as his biggest business mistake, while his flour business was eventually sold.
Source: Getty Images
The group also abandoned an attempted telecommunications operation, exited aviation and banking ventures and struggled with its tomato-processing investment.
The difference this time is that power, pipelines and shipping could complement businesses Dangote already operates.
Rather than being isolated investments, the projects could create a more integrated network connecting electricity, refining, transportation and distribution as the conglomerate expands its industrial footprint across Africa.
Dangote Refinery to employ more workers
Legit.ng earlier reported that Dangote Petroleum Refinery and Petrochemicals FZE is set to significantly increase its workforce as the company prepares to double the refinery’s processing capacity to 1.4 million barrels per day by 2029.
Edwin Devakumar, Vice President of Oil & Gas and Fertiliser at Dangote Industries Limited, disclosed this to journalists during a visit to the refinery in Lagos on Friday, September 18, 2026.
Source: Legit.ng
