Dangote Group Targets $36bn Revenue In 2026,$100bn Capex In 5 Years

Dangote Group has generated approximately $17 billion in revenue in the first half of 2026 and is on course to achieve a record $36 billion for the full year, representing a 100 per cent increase over the $18 billion recorded in 2025.

The group’s chief strategy officer, Aliyu Suleiman, disclosed this during a tour of the Dangote Petroleum Refinery in Lagos by Kenyan President William Samoei Ruto, who was in Nigeria after attending the United Nations General Assembly (UNGA).

Suleiman said the strong performance was driven by sustained investments across key sectors including cement, sugar, fertiliser, petroleum refining, upstream oil and gas and other strategic businesses.

“The revenues of the Group have grown significantly over the last five years. From $18 billion last year, we are on track to get to $36 billion this year. Our half-year revenue is already about $17 billion,” he stated.

He noted that the growth is anchored in the Group’s Vision 2030 Strategy, which aims to expand its industrial footprint across Africa and build globally competitive businesses on the continent.

According to him, between 2020 and 2025, the Group executed a capital expenditure programme of approximately $50 billion, and over the next five years, it intends to invest twice that amount.

“Over the next five years, we intend to invest twice that amount as we accelerate our expansion across Africa,” he said.

Suleiman said a key pillar of that expansion is the proposed 700,000 barrels-per-day greenfield refinery and petrochemical complex in Lamu, Kenya, estimated at about $17 billion.

“The East African refinery in Kenya is going to be a key component of our journey and our dream to get to $100 billion. It is going to be a major contributor,” he said.

He disclosed that Dangote Group has signed a contract worth more than $450 million with Engineers India Limited (EIL) to provide project management consultancy and engineering, procurement and construction management services for the Lamu project. The partnership builds on EIL’s involvement in the development of the Dangote Petroleum Refinery in Lagos.

Suleiman added that the Group is also progressing plans to expand the processing capacity of the Dangote Petroleum Refinery in Nigeria from 700,000 barrels per day to approximately 1.4 million barrels per day through the addition of a new 750,000 barrels-per-day crude distillation unit.

The expansion, he said, would further solidify Nigeria’s position as a leading exporter of refined petroleum products and enhance Africa’s energy self-sufficiency.

The Kenyan president, who toured the Lagos refinery, described it as “a masterpiece of science, engineering and art,” and said Kenya had secured land and was removing bureaucratic bottlenecks for the groundbreaking of the Lamu refinery.