Dangote raises Africa investment target to $60 billion, begins $2.5 billion Namibia project

Aliko Dangote, President of Dangote Group, has actually increased his financial investment target for Africa’s industrialisation from $50 billion to $60 billion by 2030, as he broadens his energy facilities footprint throughout the continent.

According to Bloomberg, the billionaire revealed the modified target on Wednesday, November 4, 2026, throughout the groundbreaking event for a $2.5 billion fuel storage and pipeline job near Walvis Bay, Namibia.

The financial investment, that includes a fuel storage center and a 1,700-kilometre pipeline going through Botswana and South Africa, is anticipated to enhance petroleum supply throughout southern Africa and enhance access to sustain in landlocked nations.

Dangote backs continental growth with financial investments

Speaking at the occasion, Dangote stated the group was backing its continental growth aspirations with real financial investments instead of dedications alone.

• “We likewise put our cash on the table– it’s not almost stating things,” he informed press reporters in Walvis Bay, Namibia, after opening the website of a prepared fuel depot in the nation.
• “From 2030 to 2035, we’re presenting an even larger one, and I’m sure others will join us,” he included.

The current dedication represents a 20% boost in Dangote’s initial $50 billion financial investment target for Africa by the end of the years.

Namibia task targets more affordable fuel supply

The brand-new fuel storage center kinds part of Dangote Group’s more comprehensive strategy to establish petroleum circulation facilities throughout Africa.

Dangote stated the task would help in reducing fuel supply expenses for landlocked nations by bringing petroleum items more detailed to their markets.

• “We wish to greatly invest so that the majority of the landlocked nations will have the ability to gain access to petroleum items at a more affordable cost,” he stated.

The proposed facilities will consist of around 4 million barrels of storage capability, making up 360 million litres for diesel and 240 million litres for fuel.

Dangote stated building of the storage center would take no greater than 18 months.

The pipeline part will extend around 1,700 kilometres through neighbouring Botswana and South Africa, possibly opening more effective fuel circulation paths throughout the area.

The job is likewise anticipated to reinforce Namibia’s energy security and assistance local trade and commercial advancement.

Namibia, with a population of roughly 3 million, is amongst African nations looking for to enhance energy supply strength amidst issues about prospective fuel scarcities following the US-Israeli war with Iran.

The proposed facilities might likewise increase competitors amongst fuel suppliers, especially in mining locations where carrying petroleum items over fars away has actually generally increased operating expense.

Dangote broadens refinery and energy financial investments throughout Africa

The Namibia task becomes part of an aggressive continental growth method by Dangote Group, which has actually revealed more than $35 billion worth of facilities financial investments this year.

• These jobs represent almost three-quarters of its initial $50 billion financial investment target for Africa by 2030.
• A significant part of the growth is the organized boost in the capability of the Dangote Petroleum Refinery in Lagos from its present 650,000 barrels each day to 1.4 million barrels each day within 3 years.
• Previously in October, Dangote revealed strategies to develop a substantial petroleum circulation network throughout Africa, backed by financial investments in pipelines, storage centers and tactical supply passages.

Dangote stated the Group was broadening its petroleum circulation facilities throughout East, Central and Southern Africa to deal with supply obstacles, decrease logistical traffic jams and enhance the continent’s energy security.