Dangote Group Unveils Vision 2030, Signs $400m Agreement with China’s XCMG

Africa, Business, Technology

LAGOS, NIGERIA: The Dangote Group has unveiled its Vision 2030 strategy, outlining plans to transform into a $100 billion pan-African industrial powerhouse by the end of the decade. In a statement released Monday, the conglomerate emphasised its commitment to “deepening investments across the continent, strengthening human capital, reducing import dependence, creating jobs, and advancing sustainable industrialisation.”

Demonstrating its resolve, the Group announced the signing of a $400 million agreement with China’s XCMG Construction Machinery Co., Ltd. to acquire advanced construction equipment. The deal is expected to accelerate the expansion of the Dangote Petroleum Refinery and Petrochemicals, which recently achieved recognition as the world’s largest oil refinery. The current output of 650,000 barrels per day is projected to rise to 1.4 million barrels per day under the expansion plan.

Beyond crude refining, the agreement will boost production of key byproducts. Polypropylene output is expected to increase from 900,000 metric tonnes per year to 2.4 million, while Nigeria’s urea production capacity will scale from 3 million to 9 million metric tonnes annually. The Group described these milestones as central to its broader industrial vision, positioning Nigeria as a global hub for energy and petrochemicals.