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.
To contact the reporter on this story: Elisha Bala-Gbogbo in Abuja at ebalagbogbo@bloomberg.net
To contact the editor responsible for this story: Anthony Osae-Brown at aosaebrown2@bloomberg.net
