Dangote Group requires $40 billion over five years to expand fertilizer and fuel production, according to the African Export-Import Bank. Plans include quadrupling urea output to 12 million tons by 2030—making it the world’s top supplier—and doubling oil refinery capacity from 650,000 to 1.4 million barrels per day.
The expansion comes as Gulf conflicts disrupt global supply chains, hurting import-dependent African nations. A successful scale-up could make Nigeria a regional hub for energy and crop nutrients.
Recently, Afreximbank underwrote a $2.5 billion facility as part of a $4 billion loan for Dangote’s refinery. Beyond fuel and fertilizer, the group targets growth in cement, rice, food production, infrastructure (ports, pipelines), gas, mining, data centers, and power. Dangote did not immediately respond to a request for comment.
