The Dangote Group says it is targeting $36bn in revenue in 2026, following strong growth recorded in the first half of the year.
The Group’s Chief Strategy Officer, Aliyu Suleiman, disclosed this during a tour of the Dangote Petroleum Refinery in Lagos by Kenyan President William Ruto.
Suleiman said the conglomerate generated about $17bn in revenue in the first half of 2026.
He said the figure puts the Group on course to double its $18bn revenue recorded in 2025.
> “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,” Suleiman stated.
He attributed the growth to sustained investments in cement, sugar, fertiliser, petroleum refining, upstream oil and gas, among other businesses.
Suleiman said the expansion was being driven by the Group’s Vision 2030 strategy aimed at strengthening its industrial presence across Africa.
He disclosed that the Group invested about $50bn in capital expenditure between 2020 and 2025.
According to him, Dangote intends to invest twice that amount over the next five years as it accelerates its expansion across Africa.
> “Over the next five years, we intend to invest twice that amount as we accelerate our expansion across Africa,” he said.
A major component of the expansion is the proposed 700,000 barrels-per-day refinery and petrochemical complex in Lamu, Kenya.
The project is estimated to cost about $17bn.
Suleiman described the proposed refinery as a major contributor to the Group’s ambition of reaching $100bn in revenue.
> “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 also disclosed that Dangote Group had signed a contract worth more than $450m with Engineers India Limited for project management consultancy and engineering, procurement and construction management services for the Lamu project.
Meanwhile, the Group is planning to expand the Dangote Petroleum Refinery’s processing capacity in Nigeria.
Suleiman said the refinery’s capacity would be increased 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.
He said the expansion would strengthen Nigeria’s position as an exporter of refined petroleum products and support Africa’s energy self-sufficiency.
Speaking during the tour, President Ruto described the Lagos refinery as “a masterpiece of science, engineering and art”.
The Kenyan President said his government had secured land for the proposed Lamu refinery and was working to remove bureaucratic bottlenecks ahead of its groundbreaking.