Aliko Dangote has unveiled a $50 billion investment plan for 2026 to 2030, targeting expansion across Africa’s energy sector through refinery projects, petroleum pipelines and distribution networks.
The President of Dangote Industries Limited disclosed that the Group had acquired a 25 per cent stake in a petroleum products pipeline network in Kenya as part of efforts to strengthen its distribution infrastructure across the continent.
Dangote spoke during a conversation with David Pilling, Africa Editor of the Financial Times, at the Financial Times Africa Summit 2026 in London.
“Yesterday, with the support from the President of Kenya, we bought 25 per cent of the pipeline network for the distribution of petroleum products,” he said.
He said the Group was also pursuing distribution projects in Djibouti, Ethiopia, Cameroon and Namibia, including a corridor linking Djibouti to Addis Ababa, Ethiopia’s capital, supported by storage facilities and tank farms.
According to him, a project in Cameroon was nearing completion, while Namibia would serve as a gateway to Southern African markets, including Botswana and South Africa.
“From our refinery to Namibia is just about four days of steaming,” Dangote said, referring to the transportation of refined products from the Dangote Petroleum Refinery in Lagos.
The Group is also considering a distribution corridor through Zimbabwe and Zambia to expand access to petroleum products across the region.
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Beyond distribution, Dangote outlined plans to build a refinery in Lamu, Kenya, with a proposed capacity of about 700,000 barrels per day.
He said the investment was driven by East Africa’s industrial and mining activities, rising energy demand and persistent difficulties in accessing diesel and other petroleum products.
The proposed refinery would source crude oil from multiple markets rather than rely exclusively on supplies from Kenya or Uganda. Dangote said Lamu was selected after technical assessments identified its deep-water access, marine facilities and water resources as key advantages.
He added that the investment decision was reached within four months, alleging that commercial interests had attempted to frustrate the project through legal proceedings shortly before its public unveiling.
Dangote said the Group’s $50 billion investment programme was intended to expand its operations and encourage greater private-sector participation in Africa’s industrialisation.
He also urged African governments to protect domestic industries against unfair foreign competition, warning that excessive reliance on imports was undermining manufacturing and employment.
“Exporting our jobs out of the continent, importing poverty into the continent,” he said, describing the consequences of imported goods displacing locally manufactured products.
Dangote identified unreliable electricity supply as another major constraint on industrialisation, particularly in mining and mineral processing, where power shortages limit the capacity to process natural resources locally.
Citing an estimated 650 million Africans without access to electricity, he said addressing the deficit would support manufacturing, job creation and economic diversification.
He argued that Africa’s agricultural resources, mineral wealth and youthful population provided the foundations for industrial growth, but stressed the need for investment and infrastructure development to translate those advantages into broad-based prosperity.
Victor Ezeja is a Nigerian journalist skilled in producing insightful news analyses, feature stories, and interviews that simplify complex issues and drive informed public discourse. His work combines rigorous research, balanced reporting, and compelling storytelling to highlight developments shaping industries and society. Victor, who holds a Master's Degree in Mass Communication, specializes in energy, aviation, business, and economic reporting. He can be reached via @VICTOREZEJA on X