Africa’s wealthiest businessman, Aliko Dangote, has announced bold revenue projections for his conglomerate, the Dangote Group, which is expected to generate $30 billion in total revenue by 2026, up from $25 billion in 2025.
Despite potential headwinds from shifting U.S. trade policies under President Donald Trump, Dangote expressed confidence in the resilience of his business empire.
Speaking at a venture capital conference in Lagos, Dangote outlined his firm’s continued expansion plans, anchored by the 650,000 barrels-per-day Dangote Petroleum Refinery and growing exports from Dangote Fertilizer and Cement.
“We’re projecting an additional $5 billion in revenue by 2026. “That will bring us to $30 billion, and we’re just getting started.”
Aliko Dangote
While global companies are grappling with the effects of Trump’s aggressive tariff regime, Dangote Industries appears largely insulated from the fallout—at least for now.
The U.S. has not included oil and gas exports in its latest round of tariff adjustments, sparing Dangote’s refinery operations.
More notably, Dangote Fertilizer, which exports urea to the U.S., stands to benefit competitively due to new levies imposed on regional rivals.
“I was worried about the U.S. tariff because 37% of our urea goes to the U.S. Luckily for us, Algeria was slapped with 30% tariffs.”
Aliko Dangote
This 16% cost advantage over Algeria gives Dangote a stronger foothold in the lucrative U.S. market, helping the conglomerate offset any broader trade volatility.
Dangote also revealed that the group’s cement division is on track to become the largest producer and exporter on the continent by 2026, surpassing Egypt.
“We are at about 53 million tons in production capacity today.
“By next year, we will be at 62 million tons of cement. We will be number one in Africa.”
Aliko Dangote
This expansion aligns with the group’s strategic efforts to dominate regional markets while tapping into the growing infrastructure needs across sub-Saharan Africa.
Dangote’s Bid for Africa’s Top Spot
In addition to strengthening his oil refining and fertilizer businesses, Dangote has unveiled ambitious plans to make his cement company Africa’s largest cement exporter by 2026, overtaking Egypt.
“We are at about 53 million tons in production capacity today,” he stated. “By next year, we will be at 62 million tons of cement. We will be number one.”
Aliko Dangote
This expansion strategy reinforces Dangote’s long-term vision of maintaining market dominance across Africa’s industrial and manufacturing sectors.
With its operations continuing to scale, Dangote Industries’ total asset valuation has surged to $27.5 billion, as reported by the Bloomberg Billionaires Index.
Despite Dangote’s optimism, Nigeria’s economy remains vulnerable to shifts in U.S. trade policies, particularly in its participation under the African Growth and Opportunity Act (AGOA).
AGOA, a U.S. trade program, provides duty-free access for exports from sub-Saharan African nations, but potential policy shifts could place Nigeria’s export advantages at risk.
A recent Strategy & (PwC) report, titled ‘Global Economic Policy Changes and Implications for Nigeria,’ highlighted concerns about AGOA’s future.
The report warne that if AGOA benefits are not renewed, Nigeria could face restrictions on crude oil, agricultural products, and manufactured goods exported to the U.S.
“Nigeria has historically been a major beneficiary of AGOA, exporting $1.76 billion worth of goods to the United States in 2024.
“This makes Nigeria the second-largest AGOA exporter after South Africa.”
Strategy & (PwC) report
The removal of AGOA benefits could undermine Nigeria’s competitiveness in the U.S. market, potentially leading to a decline in exports and foreign exchange earnings.
While Dangote Group’s expansion remains on track, global economic volatility presents challenges for Nigeria’s trade environment.
Dangote’s ability to navigate these uncertain market conditions will be critical in determining how his conglomerate sustains growth and maintains its leadership position in Africa’s industrial sector.
As Nigeria’s export landscape evolves, national policymakers are closely monitoring U.S. trade negotiations, ensuring that the country’s economic interests remain protected amid shifting global policies.
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