Businessman Aliko Dangote has projected that more than 90,000 people will be employed across his group’s refinery, petrochemical and fertiliser operations in Lagos by next year as the company expands its investments in energy and agriculture.
The President and Chief Executive of Dangote Industries Limited disclosed this in an interview, explaining that the expansion was driven largely by the need to create jobs for Africa’s growing youth population and strengthen local production.
“The refinery expansion is huge. By next year, we expect to have almost 90,000 people working on the refinery and fertiliser projects in Lagos,” he said.
Dangote stressed that job creation remained one of his biggest concerns, noting that Africa needed more factories and industries capable of providing meaningful employment for its young population.
As part of the expansion, the group plans to increase the refinery’s processing capacity by another 700,000 barrels per day, bringing its planned total capacity to about 1.4 million barrels per day. The project will also include additional petrochemical facilities and supporting infrastructure.
Beyond the energy sector, Dangote outlined plans to establish 20 fertiliser blending plants in strategic locations across Africa to improve farmers’ access to agricultural inputs and reduce dependence on imports.
He said the group was also preparing to begin mining potash and phosphate in Congo-Brazzaville as part of efforts to strengthen its fertiliser production capacity across the continent.
According to him, the company’s plans include reaching nine million tonnes of urea production capacity, alongside 1.2 million tonnes of diammonium phosphate (DAP) and one million tonnes of NPK blending capacity in Lagos.
Dangote said the objective was to ensure that farmers in countries where the group operates, as well as neighbouring markets, could access fertiliser throughout the year without being affected by delays associated with international supply chains.
He cited Ethiopia as an example, explaining that fertiliser imports transported through Djibouti often face logistical challenges that can cause supplies to arrive after the planting season.
With local production, he said, farmers would have better access to the products when they need them.
Dangote also recalled the difficulties African countries faced in securing fertiliser during the Russia-Ukraine crisis, arguing that the continent should develop enough production capacity to meet its agricultural needs rather than depend heavily on external markets.
He expressed confidence that access to sufficient natural gas would allow Africa to produce the fertiliser it requires, adding that the continent had the agricultural resources to achieve a major transformation.
The group’s wider investment plans extend beyond refining and fertiliser production. Dangote disclosed an ambition to develop 10,000 megawatts of power in partnership with some African countries and increase the group’s cement production capacity to 100 million tonnes.
He said reliable electricity was essential to industrial development, as it would enable African countries to process more of their raw materials locally, create jobs and retain greater economic value.
The proposed investment programme could reach $65 billion over four years, with about $50 billion expected to go into existing businesses and another $15 billion earmarked for new ventures.
Dangote said the funding would come from a combination of cash generated by the group’s businesses, internally generated equity and debt.
He also urged African business leaders to invest more in the continent, arguing that stronger local investment would help build confidence among foreign investors.
According to him, Africa must move beyond repeatedly discussing its economic potential and demonstrate its commitment through concrete investments in industries, infrastructure and businesses.
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