Dangote Group Unveils Vision 2030 With Kenya Refinery
Dangote Group targets $35 billion in annual profits by 2030 through a $100 billion investment plan including a new refinery in Lamu, Kenya.
The Dangote Group has unveiled its Vision 2030 strategy, targeting annual profits of $35 billion and a turnover between $115 billion and $120 billion by 2030. To achieve these goals, the conglomerate plans to invest up to $100 billion over the next five years across Africa, focusing on mining, power, gas, and refining. The group reported $17 billion in revenue for the first half of 2026 and expects to reach $36 billion by the end of the year.
A central component of this expansion is a $15 billion to $17 billion greenfield refinery and petrochemical complex in Lamu, Kenya. The facility will process 700,000 barrels of crude oil per day and include a 1,000-megawatt power plant. The first cargo of construction materials arrived at Lamu Port on September 27, 2026, ahead of a groundbreaking ceremony scheduled for September 30.
Kenyan President William Ruto confirmed his government is removing bureaucratic hurdles to support the project during a visit to the existing Dangote Petroleum Refinery in Lagos, Nigeria. In Lagos, the group intends to double its refinery capacity from 700,000 to 1.4 million barrels per day. Other major initiatives include an $8 billion liquefied natural gas project and an Initial Public Offering for the Dangote Refinery, which is expected to be the largest in African history.
