The chairman of Dangote Group, Aliko Dangote has said he plans to expand into 20,000 megawatts of power generation, while defending his more than $20 billion refinery project as evidence that large-scale industrial investments are achievable in Africa.

Dangote made the comments during a podcast hosted by the Managing Director of the International Finance Corporation, Makhtar Diop, monitored on Wednesday, where he outlined a broad vision for driving Africa’s economic growth through major investments in infrastructure, energy, and industry.

Speaking about his refinery project, Aliko Dangote said Nigeria’s persistent reliance on imported petroleum products, despite being a major crude oil producer, was the main driver behind his decision to invest in the facility.

He said, “At one point, we were exporting 2.4 million barrels per day and not processing even one barrel. Every single product we used, gasoline, jet fuel, everything was imported. I said no, this cannot continue.”

Dangote said that despite initial scepticism, his refinery has now achieved operational stability and is processing crude oil at near full capacity.

He said, “Today, we have tested the refinery up to 661,000 barrels per day, and for the last two months, we have been stable at 650,000 barrels per day. Every single department is working.”

He added that the project’s success is helping to change perceptions about Africa’s capacity to execute complex, large-scale industrial developments.

“People always said this refinery will never happen. But today, we have shown that as an African company, we can deliver. That gives us a voice to tell others, come and invest in Africa,” Dangote stated.

Dangote said the refinery, regarded as one of the world’s largest single-train facilities, was delivered through a fully self-managed engineering and procurement process.

“We established our own EPC system. Every single nut and bolt we bought, we shipped, and we assembled. At the time I started, I had never even seen crude oil in my life. But we took the risk,” he added.

Beyond refining, Aliko Dangote said his group is increasingly focused on closing Africa’s infrastructure gaps, with new investments targeted at power generation and other large-scale projects.

He noted that the company is moving into 20,000 megawatts of electricity generation, alongside plans for a major deep-sea port and liquefied natural gas (LNG) development, adding, “We are now going into power, 20,000 megawatts. We are building the biggest deep-sea port, and we are doing LNG. Why? Because we are looking at the needs of Africa and making them a reality.”

Dangote explained that reliable electricity is essential for industrialisation, stressing that Africa cannot fully unlock its manufacturing potential without stable power supply.

He also linked his investments in fertiliser and agriculture to wider economic transformation objectives, noting that the group is targeting 12 million tonnes of urea production, a scale that could position it among the world’s largest fertiliser producers.

He said, “For me, what gives satisfaction is how to take our continent out of trouble. We cannot continue importing what we consume. We must produce, we must add value.”