Aliko Dangote, Africa’s richest man, says the Dangote group is on track to generate $30 billion in total revenue next year, despite growing concerns among global businesses about the potential impact of U.S. President Donald Trump’s trade tariffs.
- Dangote Group aims to generate $30 billion in revenue next year.
- Dangote Fertiliser gains a pricing advantage over Algeria due to a lower tariff on urea exports to the U.S.
- Dangote expects his cement company to become Africa’s largest exporter, surpassing Egypt in production capacity.
Aliko Dangote, Africa’s richest man, says the Dangote group is on track to generate $30 billion in total revenue next year, despite growing concerns among global businesses about the potential impact of U.S. President Donald Trump’s trade tariffs.
Dangote revealed that the conglomerate, which spans key sectors like cement, sugar, fertilizers, and a newly launched 650,000-barrels-per-day, is set to grow its earnings by at least $5 billion in 2026, up from a projected $25 billion this year, according to Bloomberg.
DON’T MISS THIS: Africa’s richest man Aliko Dangote has agreed to work with the World Bank
Trump’s tariffs spared oil and gas exports, allowing the Dangote Petroleum Refinery to continue selling its products to the United States without disruption. This exemption provides a significant cushion for Aliko Dangote’s broader business strategy, especially as the refinery ramps up output.
Dangote fertiliser gains
In addition, Dangote’s fertilizer business stands to gain from the tariff dynamics. While Nigeria was hit with a 14% levy, its main competitor, Algeria, faces a steeper 30% tariff on urea exports to the U.S., a 16 percentage-point difference that gives Dangote Fertiliser a pricing edge in a critical market.
Dangote, Africa’s richest man, said he initially feared the tariff could hurt exports from Dangote Fertiliser, which began commercial operations in 2022.
“But when I checked who we are really competing with, we are competing with Algeria. So luckily for us Algeria were slapped with 30%. So it actually makes us a bit comfortable,” said Dangote.
DON’T MISS THIS: Aliko Dangote, Johann Rupert, and other African billionaires break their net-worth record
The $2.5 billion plant, located on 500 hectares of land in the Lekki Free Trade Zone, is the largest granulated urea fertiliser complex in Africa with a production capacity of 3 million metric tonnes annually.
According to Dangote, roughly 37% of the company’s urea output is shipped to the United States, making the U.S. a key market. However, his concerns eased when he discovered Algeria, another major urea exporter, had been slapped with a higher 30% tariff.
Beyond the U.S., Dangote also exports urea to other key markets such as Brazil, which has historically relied on Russian fertilizer supplies, as well as India and Mexico.
Dangote added that he expects his cement company to become Africa’s largest exporter next year, overtaking Egypt in the process.
“We are at about 53 million tons,” Dangote said in reference to the production capacity of his plants. “By next year, we will be at 62 million tons of cement. We will be number one.”
His total assets are currently valued at $27.5 billion, according to the Bloomberg Billionaires Index.
