President and Chief Executive of Dangote Group, Aliko Dangote, has expressed confidence that the conglomerate could surpass its projected $100 billion revenue target before 2030, describing it as a milestone that would mark a historic achievement for an African business.
Dangote made the remark on Wednesday during an interview with journalists after leading a team of top executives on a tour of the Dangote Refinery complex.
He said the $100 billion projection should be seen as a conservative benchmark, insisting that the group is positioned to exceed it with sustained growth and continued expansion across its industrial operations.
“The question is that, you know, I believe by the Almighty’s grace, we will definitely, you know, if we stay at $100 billion by 2030, then definitely we have not done a hard work. I think we’ll cross that number.
“This one is just a guide. Worst case, if we come out with $100 billion revenue, it means that, yes, we have tried, but we didn’t work hard, ” he said.
If achieved, the target would place Dangote Group in a revenue class currently unmatched by any African company.
The continent’s largest firms, including major state-owned energy corporations, have historically remained below the $80 billion revenue threshold even during periods of strong global commodity prices.
Algeria’s Sonatrach, Africa’s biggest company by revenue, has previously recorded earnings above $80 billion during peak oil market cycles.
A $100 billion revenue performance would therefore not only set a new continental benchmark but also significantly widen Dangote Group’s scale relative to other major African corporations.
Dangote attributed the company’s growth outlook to its expanding industrial footprint, particularly the Dangote Refinery, which he described as one of the largest industrial projects globally.
“We are going to have 10% of the refining capacity of the entire America. 10% of the entire America’s production in terms of refining.
“And it’s going to be the largest refinery ever on the earth. So it’s not a small business. It is a very, very big business, ” he said..
He further emphasised that strong partnerships with financial institutions would remain key to sustaining the group’s expansion plans.
“Our banks, they believe so much in us. And we believe that we owe it as a duty to also grow together with them,” he said.
Dangote added that the company maintained long-term relationships with its banking partners, describing them as essential contributors to its growth journey.
The billionaire industrialist said Dangote Group would continue to combine innovation with traditional financial discipline as it pursues its ambitious expansion goals across Africa and beyond.
