Dangote Group aims to become a $100bn business

The Dangote Group, a conglomerate founded by Africa's richest man Aliko Dangote, is setting its sights on becoming a $100 billion business. In an exclusive interview with CNBC Africa during the World Economic Forum in Davos, Dangote shared insights into the company's ambitious plans and arsenal ambitions. The interview shed light on the various projects that the Dangote Group is undertaking to reach this remarkable milestone. One of the key projects in the pipeline is the construction of a gas pipeline spanning a distance of 550 kilometers from the Niger Delta in Nigeria to Lagos and then extending into West Africa. Additionally, the group is venturing into subsea operations and is embarking on the development of three million tons of urea and ammonia, among other products. A major focus is also on expanding the refining capacity to 650,000 barrels per day, alongside the production of 1.3 million tons of polypropylene and polyethylene. These transformative projects are poised to have a significant impact on Nigeria's economy, positioning the Dangote Group as a key player in the country's industrial growth. Aliko Dangote expressed optimism about the Nigerian economy, despite the challenges posed by the activities of Niger Delta militants. He highlighted ongoing dialogues between the government and militants to address issues such as pipeline bombings that disrupt oil exports. Dangote confidently predicted a resolution to these challenges in the coming months, foreseeing a boost in revenue once the disruptions are resolved. Addressing the fluctuations in the value of the Naira, Dangote acknowledged the impact on business but emphasized the group's long-term commitment to Africa, not just Nigeria. He underscored the resilience required to navigate through economic uncertainties, reaffirming the Dangote Group's steadfast commitment to its operations on the continent. In response to queries about the recent challenges faced by Nigeria's national power grid, Dangote revealed that efforts were underway to address the situation. Assurances from top officials indicated progress in resolving the issues, with expectations of increased power supply to mitigate the impact of system collapses. As the interview drew to a close, Dangote addressed speculation surrounding his interest in acquiring English football club Arsenal. While confirming his earlier statement expressing interest in the club, he clarified that his current focus is on completing the significant $18 billion project at hand. Once this project reaches fruition, he intends to shift his attention to potential dealings with Arsenal. Overall, the interview provided a comprehensive overview of the Dangote Group's strategic vision, highlighting key projects, economic outlook, and future plans. With Aliko Dangote at the helm, the conglomerate continues to make significant strides towards achieving its $100 billion target, reshaping industries and economies across the African continent.