Aliko Dangote, President of Dangote Group, has elevated his investment target for Africa’s industrialisation from $50 billion to $60 billion by 2030, as he expands his power infrastructure footprint throughout the continent.
According to Bloomberg, the billionaire introduced the revised target on Wednesday, November 4, 2026, in the course of the groundbreaking ceremony for a $2.5 billion gas storage and pipeline project close to Walvis Bay, Namibia.
The investment, which features a gas storage facility and a 1,700-kilometre pipeline working by way of Botswana and South Africa, is anticipated to strengthen petroleum provide throughout southern Africa and enhance entry to gas in landlocked nations.
Dangote backs continental growth with investments
Speaking on the occasion, Dangote stated the group was backing its continental growth ambitions with precise investments moderately than commitments alone.
- “We also put our money on the table — it’s not just about saying things,” he instructed reporters in Walvis Bay, Namibia, after opening the location of a deliberate gas depot within the nation.
- “From 2030 to 2035, we’re rolling out an even bigger one, and I’m sure others will join us,” he added.
The newest dedication represents a 20% improve in Dangote’s authentic $50 billion investment target for Africa by the top of the last decade.
Namibia project targets cheaper gas provide
The new gas storage facility kinds a part of Dangote Group’s broader plan to develop petroleum distribution infrastructure throughout Africa.
Dangote stated the project would assist scale back gas provide prices for landlocked nations by bringing petroleum merchandise nearer to their markets.
- “We want to heavily invest so that most of the landlocked countries will be able to access petroleum products at a cheaper price,” he stated.
The proposed infrastructure will embody roughly 4 million barrels of storage capability, comprising 360 million litres for diesel and 240 million litres for gasoline.
Dangote stated development of the storage facility would take not more than 18 months.
The pipeline element will prolong roughly 1,700 kilometres by way of neighbouring Botswana and South Africa, probably opening up extra environment friendly gas distribution routes throughout the area.
The project can be anticipated to strengthen Namibia’s power safety and help regional commerce and industrial improvement.
Namibia, with a inhabitants of roughly three million, is amongst African nations in search of to strengthen power provide resilience amid issues about potential gas shortages following the US-Israeli battle with Iran.
The proposed infrastructure might additionally improve competitors amongst gas distributors, notably in mining areas the place transporting petroleum merchandise over lengthy distances has historically elevated working prices.
Dangote expands refinery and power investments throughout Africa
The Namibia project is a part of an aggressive continental growth technique by Dangote Group, which has introduced greater than $35 billion value of infrastructure investments this yr.
- These initiatives characterize practically three-quarters of its authentic $50 billion investment target for Africa by 2030.
- A significant element of the growth is the deliberate improve within the capability of the Dangote Petroleum Refinery in Lagos from its present 650,000 barrels per day to 1.4 million barrels per day inside three years.
- Earlier in October, Dangote unveiled plans to establish an extensive petroleum distribution network across Africa, backed by investments in pipelines, storage amenities and strategic provide corridors.
Dangote stated the Group was increasing its petroleum distribution infrastructure throughout East, Central and Southern Africa to deal with provide challenges, scale back logistical bottlenecks and strengthen the continent’s power safety.
