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, through the groundbreaking ceremony for a $2.5 billion gasoline storage and pipeline project close to Walvis Bay, Namibia.
The investment, which features a gasoline storage facility and a 1,700-kilometre pipeline working by Botswana and South Africa, is anticipated to strengthen petroleum provide throughout southern Africa and enhance entry to gasoline in landlocked international locations.
Dangote backs continental growth with investments
Speaking on the occasion, Dangote mentioned the group was backing its continental growth ambitions with precise investments slightly than commitments alone.
- “We also put our money on the table — it’s not just about saying things,” he informed reporters in Walvis Bay, Namibia, after opening the positioning of a deliberate gasoline 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% enhance in Dangote’s unique $50 billion investment target for Africa by the top of the last decade.
Namibia project targets cheaper gasoline provide
The new gasoline storage facility kinds a part of Dangote Group’s broader plan to develop petroleum distribution infrastructure throughout Africa.
Dangote mentioned the project would assist scale back gasoline provide prices for landlocked international locations 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 mentioned.
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 mentioned building of the storage facility would take not more than 18 months.
The pipeline part will lengthen roughly 1,700 kilometres by neighbouring Botswana and South Africa, doubtlessly opening up extra environment friendly gasoline distribution routes throughout the area.
The project can also be anticipated to strengthen Namibia’s power safety and assist regional commerce and industrial growth.
Namibia, with a inhabitants of roughly three million, is amongst African international locations looking for to strengthen power provide resilience amid considerations about potential gasoline shortages following the US-Israeli conflict with Iran.
The proposed infrastructure might additionally enhance competitors amongst gasoline distributors, significantly 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 almost three-quarters of its unique $50 billion investment target for Africa by 2030.
- A significant part of the growth is the deliberate enhance 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 services and strategic provide corridors.
Dangote mentioned the Group was increasing its petroleum distribution infrastructure throughout East, Central and Southern Africa to tackle provide challenges, scale back logistical bottlenecks and strengthen the continent’s power safety.
