Africa’s richest man, Aliko Dangote, has unveiled sweeping expansion targets that could see the Dangote Group achieve a market capitalisation above $200 billion and generate annual revenues of $100 billion by the end of the decade.
The bold forecast comes ahead of plans to list the group’s $20 billion refinery on the Nigerian Exchange (NGX) in 2026—a move expected to reshape Nigeria’s investment landscape.
Currently operating at 650,000 barrels per day, the refinery is set to expand output to 1.4 million barrels daily within three years, positioning it among the world’s largest single-train refineries.
Dangote confirmed that the IPO will feature a distinctive structure: investors can purchase shares in naira while receiving dividends in U.S. dollars, shielding both domestic and international shareholders from currency volatility.
Revenue projections show petrochemical exports—including polypropylene and fertiliser products—could generate $6.4 billion annually, forming the backbone of the dollar-denominated dividend payments.
The Dangote Group has already experienced remarkable growth, with revenues rising from $3.3 billion to $18 billion in five years, while EBITDA climbed from $1.8 billion to $2.8 billion.
Beyond the refinery, the conglomerate operates three other listed companies on the NGX: Dangote Sugar Refinery, NASCON Allied Industries, and Dangote Cement, which ranks among the exchange’s top three most valuable stocks.
Dangote emphasised that the refinery IPO will primarily target Nigerian investors, though secondary international listings remain possible.
“We want the Dangote Refinery to be the golden stock of the exchange,” he said, noting that the group is working closely with regulators to meet all requirements ahead of the listing.
Rate, Like 👍, Comment 💬, Share this article, Follow us on our social media handles, and Submit your own story to get featured and earn rewards!
WhatsApp Channel
Telegram Channel
