The Dangote Group is pursuing a $45bn investment programme across its businesses as it targets annual revenue of $100bn by 2030, with Dangote Cement expected to play a major role in funding the conglomerate’s next phase of expansion.
The group’s expansion strategy covers cement, refining, fertiliser, gas, infrastructure and other industrial businesses as it seeks to increase production capacity and strengthen its presence across African markets.
Dangote Cement, described as the group’s largest cash-generating business, is targeting an increase in annual production capacity from its current 55 million tonnes to more than 80 million tonnes as part of the growth programme.
The cement company said its expansion strategy would rely substantially on internally generated cash, reflecting the strength of its existing operations and cash-generating capacity.
In the 12 months to June 2026, Dangote Cement recorded revenue of $3.1bn, representing a 22 per cent year-on-year increase. Its cash conversion stood at 89 per cent, while return on capital employed reached 68 per cent during the period.
The company’s financial performance has also remained strong in naira terms. For the first half of 2026, Dangote Cement reported profit before tax of N981.39bn, up 34.43 per cent from N730.03bn recorded in the corresponding period of 2025. Profit after tax rose 22.69 per cent to N638.53bn.
The group’s wider investment plan is expected to include further expansion of the Dangote Refinery, with its capacity targeted to rise towards 1.4 million barrels per day. The company is also pursuing gas and LNG projects and additional industrial investments across Africa.
Dangote Cement’s expansion includes projects such as the proposed six-million-tonne-per-year plant at Itori in Ogun State, which is expected to strengthen the company’s production base as demand for cement and construction materials grows across the continent.
The group is also increasingly positioning its businesses around export earnings and geographically diversified operations. Management expects a larger share of revenue to be generated in foreign currency as its African expansion gathers pace.
The scale of the investment programme is underpinned by the group’s broader Vision 2030 strategy, which includes a target of more than $30bn in adjusted earnings before interest, taxes, depreciation and amortisation by 2030 alongside the $100bn revenue objective.
For Dangote Cement, the strategy represents a combination of capacity expansion and financial discipline, with strong operating cash flows expected to support investment while maintaining the company’s balance-sheet strength.
The wider Dangote Group is therefore positioning its 2030 strategy around expanding industrial capacity, increasing exports and using the cash generated by established businesses to finance further growth across Africa.
