Aliko Dangote on capital expenditure
From Aliko Dangote Reveals Africa's $3 Trillion Opportunity—Why the World Is Racing for African Resources · · GlobalStream 24
“We have now the group as a groupwide we have 45 billion dollars to spend. But I know we're also doing LNG in Nigeria. We're doing a gas infrastructure to remove all the gas who are flaring in the southern part and eastern part bringing it to the west where we are setting off an LNG plant about 12 million tons of energy each train will be about 6 million.”
On , Aliko Dangote, CEO at Dangote Group, spoke about capital expenditure during Aliko Dangote Reveals Africa's $3 Trillion Opportunity—Why the World Is Racing for African Resources on GlobalStream 24.
About Aliko Dangote
Aliko Dangote, founder and CEO of the Dangote Group, has been promoting large-scale industrial projects across Africa. He stated that the group plans to invest $45 billion in new investments between 2026 and 2030, including a proposed 650,000-barrel-per-day oil refinery in East Africa, which he said would be identical to the one in Nigeria. Dangote said piling has already started on an expansion of the Nigerian refinery to 1.4 million barrels per day, which he described as potentially the largest in the world and equivalent to 10% of U.S. refining capacity. He also discussed plans to increase urea production from 3 million to 12 million tons annually, which he said would make the company the world's largest producer of urea. Dangote has spoken about the need for African governments to provide consistent policies and support for domestic investors. He said that Africa must stop exporting raw materials and instead process them locally, arguing that exporting raw materials "exports jobs" and importing finished goods "imports poverty." He noted that the Dangote Group is targeting a September 2026 initial public offering for the refinery, with dividends to be paid in dollars, and said there has been strong investor demand, with requests approaching $2 billion in a private placement. Dangote also said he is a member of the African Renaissance group, which he described as a group of 54 African business leaders who meet annually in Kigali, Rwanda.