Dangote Group targets $30bn turnover in 2 years

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.

 

Source: Bloomberg

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