President of the Dangote Group, Aliko Dangote, has outlined plans to venture into steel manufacturing, electricity generation and port development as part of a renewed strategy to fast-track Africa’s industrial transformation.
Dangote said the expansion forms part of a long-term agenda to strengthen the continent’s productive capacity and reduce dependence on imports.
The conglomerate, already active in cement, sugar, salt, fertiliser and petrochemicals, is seeking to broaden its footprint into sectors considered foundational to large-scale industrial growth.
At the centre of its current operations is the Dangote Petroleum Refinery & Petrochemicals, which is producing about 650,000 barrels of refined products per day. The businessman disclosed that capacity is projected to rise significantly over the next three years as expansion plans unfold.
In an interview with The New York Times, Dangote described refining as only the beginning of a broader industrial ambition.
“We have to industrialise Africa,” he said, stressing that investments in steel, power and port infrastructure are critical to achieving that objective.
Economic observers note that steel production would position the group in a strategic sector essential for construction, transport and heavy industry.
Expanded investments in electricity and ports are also expected to help ease long-standing bottlenecks in energy supply and trade logistics, particularly in Nigeria.
Dangote pointed to India’s Tata Group as an example of how diversified industrial enterprises can drive economic transformation in developing markets.
He maintained that job creation remains at the heart of the expansion strategy. With Nigeria facing rising unemployment and a rapidly growing youth population, Dangote said large-scale industrial ventures are necessary to generate sustainable employment.
The refinery currently employs about 30,000 workers, most of them Nigerians. Planned diversification into new sectors is expected to raise the group’s total workforce to approximately 65,000.
He also revealed plans to list the refinery on the Nigerian stock exchange to enable broader domestic participation in the business.
While acknowledging challenges such as infrastructure deficits and crude supply constraints, Dangote reiterated his commitment to investing in projects that strengthen local value chains and retain more economic benefits within Africa.
With operations already spanning several African countries, the group’s move into steel, power and port infrastructure marks a significant step in its evolving strategy to build an integrated industrial ecosystem across the continent.
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