The Dangote Group, a leading African conglomerate, has announced its goal to achieve $30 billion in revenue by 2025, representing a 455% increase from its 2022 revenue of $5.4 billion. This ambitious target is part of the group’s strategy to become the largest supplier of foreign exchange in Nigeria’s FX market and reduce its dependence on the Central Bank of Nigeria (CBN) for forex sourcing.
According to the Group’s Chairman, Alhaji Aliko Dangote, the company plans to diversify its revenue streams, with cement business revenue decreasing from 75% to 15% and EBITDA revenue shifting from 80% Nigerian-based to 50% foreign-based. The group also expects hard currency revenue to account for 90% of its total revenue.
To achieve this goal, the Dangote Group is investing heavily in various sectors, including agriculture, oil and gas, consumer goods, and cement.
The group has also announced plans to venture into iron and steel manufacturing and aims to stop raw sugar imports into Nigeria within the next four years, with an investment of $900 million.
