Dangote Group is pursuing a $45 billion investment programme to expand its industrial businesses and achieve $100 billion in annual revenue by 2030, with Dangote Cement expected to remain a major driver of the group’s growth.
Dangote Cement, the group’s largest cash generating business, plans to increase its production capacity from 55 million tonnes per annum to more than 80 million tonnes as part of a strategy focused on disciplined, self funded expansion.
The company said the approach is aimed at increasing capacity while maintaining strong returns and cash generation. Its cash conversion stood at 89 per cent in the 12 months to June 2026, while return on capital employed reached 68 per cent, according to Dangote Cement’s September 2026 capital markets presentation.
The cement business also recorded strong revenue growth during the period, with revenue rising by 22 per cent year on year to $3.1 billion in the 12 months to June 2026.
Its earnings performance has also strengthened in recent years. Adjusted EBITDA recorded a 50 per cent compound annual growth rate between 2023 and 2025, compared with a 40 per cent revenue CAGR over the same period.
The company’s financial performance has also supported shareholder returns. Dangote Cement reported a five per cent dividend yield for the 12 months to June 2026, while its dividend grew at a 22 per cent CAGR between 2023 and 2025.
The planned increase in cement capacity comes as Dangote Group seeks to use the cash generating strength of its established businesses to support further investments across its industrial portfolio.
Dangote Cement is also pursuing what it describes as a capital light growth strategy, using its existing production assets and logistics infrastructure to expand into related construction materials markets.
The company plans to develop cement based adjacencies, including aggregates, mortars, dry mixes and ready mix concrete or precast products.
The move is designed to broaden the company’s product portfolio and create additional revenue opportunities from its existing industrial and distribution infrastructure.
Dangote Cement’s African footprint remains central to the strategy. The company operates across 11 countries, sells into 25 countries and has 55 million tonnes of installed production capacity.
Its cross border operations are also expanding. Dangote Cement recorded three million tonnes of export sales in 2025, with 34 clinker shipments dispatched from Nigeria to Ghana, Cameroon, Côte d’Ivoire and a third party customer in Gabon.
The company’s planned capacity expansion, broader product portfolio and growing export activities form part of the wider strategy to strengthen Dangote Group’s industrial businesses while maintaining a focus on internally generated cash and shareholder returns.
For Dangote Group, the expansion of Dangote Cement provides a significant platform for pursuing its $100 billion annual revenue target by 2030, while the cement business seeks to grow capacity beyond 80 million tonnes and diversify into adjacent construction materials segments.
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