Dangote Group Targets $30 Billion Turnover in Two Years: Report


By Elisha Bala-Gbogbo

Aliko Dangote, Africa’s richest man, estimates group revenue will reach $30 billion in two years, boosted by earnings from a new oil refinery and petrochemical plant due to start production next year, ThisDay reported.

The Dangote Group, with interests in cement, flour and sugar, currently makes annual sales of about $4 billion, the Lagos-based newspaper reported. Dangote, who plans to diversify his investment to the U.S., is building a $12 billion, 650,000 barrel-a-day refinery in Lagos, Nigeria’s commercial capital.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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