Dangote Group to spend US$20bn on investments by 2020

Dangote Group is planning to invest over US$20bn (NGN630.5bn) and engage over 200,000 additional workers in various projects to impact the Nigerian and African economy by 2020.

While most of its output comes from four plants in Nigeria, Dangote Group Executive Director, Mansur Ahmed, said there were several other cement works in various other African countries.

"We have grown in terms of volume and geographical space. It is our intention to continue to grow. Our expectation is that by 2020, we will grow to 75-80Mta, not only in Nigeria, but also all over Africa.

"Our intention is that this growth will continue, with about 40Mt coming from Nigeria, and the balance of 35-40Mt coming from other plants outside the country. Our expectation is to become the largest cement manufacturing company in Africa, and one of the largest in the world."

Other investments of the Dangote Group include a refinery, petrochemical, salt, rice, sugar, tomato processing and gas plants, as well as agricultural projects to promote food security and save foreign exchange.