Dangote Industries Limited plans to invest more than $10 billion in Africa’s power sector over the next three to four years, as the conglomerate steps up its investments in energy, fertiliser, refining and other strategic industries across the continent.
The company’s President and Chief Executive Officer, Aliko Dangote, also confirmed that Dangote Fertiliser will be listed on the stock market in 2028, with the business targeting a major expansion that could make it the world’s largest fertiliser producer.
Dangote said reliable electricity remains fundamental to industrialisation and economic growth in Africa, where more than 600 million people still lack access to electricity. Brandspur Brand News reports that he linked improved power supply to increased industrial activity, investment and wider economic development across the continent.
“Power is key. We will never, ever create growth without power,” Dangote said, stressing the need to address Africa’s electricity deficit.
The planned investment comes alongside an aggressive expansion of Dangote Fertiliser. The company currently operates a $2.5 billion fertiliser complex in Ibeju Lekki, Lagos, with annual granulated urea production capacity of about three million tonnes.
Under its expansion plans, total urea production is expected to reach 12 million tonnes annually across Nigeria and Ethiopia. The business also intends to develop potash and phosphate mines and produce 2.2 million tonnes of diammonium phosphate fertiliser.
Dangote said the expanded operations could enable the company to meet more than 40 per cent of Africa’s fertiliser demand, helping reduce the continent’s dependence on imports. He pointed to disruptions in global fertiliser supply chains following the Russia Ukraine war as evidence of the risks created by reliance on external suppliers.
The planned 2028 listing follows the ongoing share offer by Dangote Petroleum Refinery, which the group has promoted as a means of widening public participation in the ownership of major African businesses. The refinery is seeking 10 million shareholders and is also planning to increase its production capacity from 700,000 barrels per day to 1.4 million barrels per day.
Dangote further disclosed that Dangote Industries is investing between $46 billion and $50 billion across Africa, covering sectors including refining, fertiliser, petrochemicals and infrastructure. The group also has access to a $6 billion credit line from the African Development Bank, which can be deployed towards petroleum products or fertiliser operations.
Ahead of the planned fertiliser IPO, Dangote Industries appointed Ralph Mupita, Chief Executive Officer of MTN Group, to the board of Dangote Fertiliser Limited.
The combination of the planned power investment, fertiliser expansion and proposed 2028 listing reflects Dangote Industries’ broader strategy of increasing its industrial footprint across Africa while building production capacity in sectors considered critical to the continent’s economic development.
