Dangote Targets $30bn Revenue by 2025 to Boost Naira, Eyes Stock Market Listing
Aliko Dangote, President of Dangote Group, has outlined plans to achieve a $30 billion revenue target by the end of 2025, aiming to significantly bolster Nigeria’s foreign exchange reserves and elevate the naira’s stature internationally. Speaking during a media tour of Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited, Dangote emphasized that the anticipated influx of forex through his ventures would naturally enhance the value of Nigeria’s currency.
The flagship Dangote Refinery, which commenced full operations in 2024 with a focus on refining intermediate products such as polypropylene, naphtha, petrol, diesel, and jet fuel, has entered its steady-state production phase. Dangote projected production scaling to 500,000 barrels per day by August and reaching 550,000 barrels per day by year-end, with an ultimate target of 650,000 barrels per day in early 2025. Petrol production is set to commence in July, with sales expected from August onwards.
Highlighting strategic initiatives, Dangote revealed plans to list both Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited on the Nigerian Exchange Group by the first quarter of 2025. This move aims to democratize ownership and allow Nigerians to participate as shareholders in these enterprises.
The Dangote Refinery, poised to process 650,000 barrels per day at full capacity, stands as Africa’s largest oil refinery and the world’s largest single-train facility. Dangote Fertiliser Limited operates Africa’s largest granulated urea fertiliser complex, reflecting Dangote Group’s substantial presence and impact in critical sectors of the economy.
