President of the Dangote Group, Aliko Dangote, has announced plans to expand into steel production, electricity generation and port development as part of a renewed push to accelerate industrialisation across Africa.
Dangote said the move represents the next phase of the conglomerate’s growth strategy beyond oil refining, with a focus on strengthening Africa’s manufacturing base and reducing import dependence.
His flagship Dangote Petroleum Refinery & Petrochemicals is currently producing about 650,000 barrels of refined products daily, with output projected to increase as expansion plans progress. However, Dangote noted that refining is only one component of a broader industrial vision.
“We have to industrialise Africa,” he said, identifying steel, power generation and port infrastructure as priority sectors critical to large-scale manufacturing and trade.
Industry analysts say entry into steel would position the group in a sector central to infrastructure and heavy industry, while investments in electricity and ports could help address longstanding constraints to economic growth in Nigeria and across the continent.
Dangote cited India’s Tata Group as a model for diversified industrial expansion, noting how multi-sector manufacturing transformed that economy.
He emphasised that job creation remains at the heart of the strategy. The refinery currently employs about 30,000 workers, roughly 80 per cent of them Nigerians, and planned expansion into new sectors could increase total workforce numbers to about 65,000.
Dangote also disclosed plans to list shares of the refinery on the Nigerian stock market to broaden local participation.
Despite acknowledging infrastructure gaps and crude supply challenges, he maintained that sustained private sector investment is key to transforming Nigeria’s industrial landscape and retaining economic value within Africa.
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