Africa’s leading industrialist, Aliko Dangote, has announced plans by Dangote Industries Limited to invest more than $10 billion in the power sector over the next three to four years as part of efforts to address Africa’s electricity deficit.
Dangote, President and Chief Executive Officer of Dangote Industries Limited, disclosed this in an interview with Al Jazeera, stressing that reliable electricity remains critical to economic growth and industrial development across the continent. He said more than 600 million Africans still lack access to electricity, describing power as fundamental to sustainable economic expansion.
The industrialist also disclosed plans to take the group’s fertiliser business public in 2028, with an ambition of making it the world’s largest fertiliser company. He said urea production would increase from three million tonnes to 12 million tonnes, alongside plans to develop potash and phosphate mines and produce 2.2 million tonnes of DAP fertiliser.
Dangote said the expansion would enable the business to supply more than 40 per cent of Africa’s fertiliser demand and reduce the continent’s dependence on imports. He linked the expansion partly to disruptions in global fertiliser supplies following the Russia-Ukraine war, which exposed Africa’s vulnerability to shortages from traditional suppliers.
Meanwhile, Dangote said the Dangote Petroleum Refinery is being positioned for further expansion from its current 700,000 barrels per day to 1.4 million barrels per day, with plans to pursue a listing on the New York Stock Exchange after the expansion. He said the refinery’s IPO was intended to broaden African ownership of strategic industrial assets while raising capital to support expansion and long-term industrial development.
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