Dangote Group is targeting $36 billion in revenue for 2026 as it accelerates a major expansion programme across Africa, including the development of a proposed $17 billion oil refinery and petrochemical complex in Lamu, Kenya.
According to its Chief Strategy Officer, Aliyu Suleiman, the group generated approximately $17 billion in revenue in the first half of 2026, putting it on course to double its $18 billion revenue recorded in 2025.
Suleiman said the performance was driven by investments across cement, sugar, fertiliser, petroleum refining, upstream oil and gas and other strategic businesses.
He said the group executed about $50 billion in capital expenditure between 2020 and 2025 and plans to invest twice that amount over the next five years under its Vision 2030 strategy.
The proposed 700,000 barrels-per-day refinery and petrochemical complex in Lamu is expected to be a major component of Dangote Group’s expansion strategy and its ambition to build a $100 billion African industrial enterprise.
“Between 2020 and 2025, the Group executed a capital expenditure programme of approximately $50 billion. Over the next five years, we intend to invest twice that amount as we accelerate our expansion across Africa,” Suleiman said.
The group has signed a contract worth more than $450 million with Engineers India Limited for project management consultancy and engineering, procurement and construction management services for the Lamu refinery and petrochemical complex.
The project is expected to strengthen regional energy security, support industrialisation, create jobs and expand engineering and technical capacity across East Africa.
Kenyan President William Ruto, who toured the Dangote Petroleum Refinery in Lagos after attending the United Nations General Assembly, described the 700,000 barrels-per-day facility as “a masterpiece of science, engineering, with art.”
Ruto said the visit had strengthened his confidence in the proposed Lamu project, disclosing that preparations had been concluded for its groundbreaking.
He said Kenya had secured the required land and was working to minimise administrative delays to ensure efficient execution of the project.
“This is not a Kenyan refinery; it is going to be a regional refinery,” Ruto said, adding that the project would support industrialisation, job creation, engineering development and regional economic integration.
Dangote Group’s wider expansion programme covers port and gas infrastructure, LNG, upstream oil and gas, power generation, mining and other strategic industrial investments across Africa.
In Nigeria, the group is also progressing plans to expand the Dangote Petroleum Refinery from its current 700,000 barrels per day capacity to approximately 1.4 million barrels per day through the addition of a new 750,000 barrels-per-day crude distillation unit.
The expansion is expected to increase Nigeria’s refined petroleum export capacity and contribute to greater energy self-sufficiency across Africa.
The Lamu project is therefore being positioned alongside the expansion of the Nigerian refinery as part of Dangote Group’s broader strategy to increase refining capacity, strengthen energy supply and deepen industrial production across the continent.