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Aliko Dangote, president of the Dangote Group, has disclosed plans to expand the conglomerate’s operations into steel production, electricity generation, and port development.
In a recent interview with The New York Times, Dangote said the group’s oil refining business is one stage of a longer-term plan to increase manufacturing capacity across Africa.
“We have to industrialise Africa,” he said.
Dangote added that the company is studying investments in steel manufacturing, power infrastructure and port facilities to support production and trade.
Dangote has previously indicated interest in establishing a large-scale steel plant to support domestic industrial supply chains.
The Dangote Group operates in multiple African countries across sectors including cement, fertiliser, sugar, salt and petrochemicals.
The company said its long-term objective is to expand manufacturing capacity and infrastructure to support regional economic growth.
Dangote Cement Plc recently announced a $1 billion agreement with China-based Sinoma International Engineering to construct new plants and expand existing facilities in several African countries.
The company’s refinery project in Lagos is currently producing refined petroleum products, with further expansion plans underway.
Dangote has said the refinery may be listed on the Nigerian Exchange in the future to allow broader investor participation.
