Dangote Group Aims for $30 Billion Revenue to Bolster Naira

Aliko Dangote, President of Dangote Group, has set an ambitious target of generating $30 billion in revenue by the end of 2025. This goal is part of a strategy to strengthen the naira by reducing reliance on the Central Bank of Nigeria for foreign exchange. Dangote made this announcement on Sunday during a media tour of Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited.

The increased foreign currency inflow through Dangote’s businesses is expected to enhance the naira’s value globally. The refinery, which began full operations in 2024, initially focused on refining intermediate products such as polypropylene, naphtha, RCO, petrol, diesel, and jet fuel. It reached steady-state production in March 2024 and aims to ramp up to 650,000 barrels per day by the first quarter of 2025.

Dangote assured that petrol production would start in July, with sales beginning in August. He also revealed plans to list Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited on the Nigerian Exchange Group by the first quarter of 2025. This move will allow Nigerians to participate in the ownership of these companies, expanding investment opportunities and integrating these enterprises into the national economy.