aliko dangote moves
Home African CEOs Interviews Visionaries Aliko Dangote’s 3 Biggest Business Moves in 2022
Visionaries - December 22, 2022

Aliko Dangote’s 3 Biggest Business Moves in 2022

Aliko Dangote has been the man of the moment in the year 2022, from increasing his net worth from $18.5 billion to $19.1 billion, to supporting  flood victims with N1.5 billion. 

This year we have also seen him make some power moves in his refinery, fertiliser and‌ cement firm.

All these activities have maintained his dominance as one of Africa’s top 1% for the greater part of a decade.

Due to Aliko Dangote’s propensity for exploration and expansion, his wealth, which is derived from multiple significant commercial endeavours, continues to grow every year.

Dangote has a significant impact on the economic landscape of Africa. The business tycoon does everything in his power to stay ahead of the competition, and this year has been no different. 

He has built factories all over the continent, entered new markets, launched new products, and even established a monopoly.

Without further ado lets take a look at Aliko Dangote’s three biggest business moves in 2022. 

RELATED:

Dangote Offers N1.5 Billion for Relief Donations

1. Largest refinery in the world

The Dangote Refinery project, is an integrated refinery and petrochemical complex and a multi-billion dollar project and is intended to generate a market for $11 billion per year of Nigerian petroleum, is emerging as a new African industrial behemoth from the Lekki beachfront of Lagos.

About 10.4 million tonnes of gasoline, 4.6 million tonnes of diesel, and 4 million tonnes of jet fuel can all be refined annually at the complex once it is fully operational.

With 1,100 kilometres of pipeline and the ability to transport 3 billion Standard Cubic Feet of petrol each day, the refinery is said to have the greatest pipeline infrastructure in the whole world.

The Refinery alone has a 400MW Power Plant that can supply all of Ibadan DisCo’s energy needs.

The Dangote Oil Refinery is a single-train, 650,000 barrels per day integrated crude oil refinery project situated in Lagos, Nigeria’s Lekki Free Zone. 

The refinery will be the largest single-train refinery in the world and the largest oil refinery in Africa with a single crude oil distillation plant.

2. Largest fertiliser plant

The largest granulated urea fertiliser complex on the continent is reportedly Aliko Dangote’s $2.5 billion urea fertiliser factory, which was built to address Nigeria’s requirement for fertiliser, a crucial element of achieving food sufficiency for Africa’s most populous country.

During its initial phase of operation, the complex will produce 3 million metric tonnes of urea fertiliser annually.

Nigeria currently uses 1.5 million metric tonnes of fertiliser, so when the plant is finished, Nigeria would be able to produce all of its own food.

The $2.5 billion complex would create 3 million tonnes of fertiliser annually, which experts predict will reduce food insecurity in the nation and make Nigeria a net exporter of food to the rest of the globe.

3. Dangote Sugar Refinary plans 300,000 jobs for Nigerians

Aliko Dangote, recently announced that his multimillion-dollar investment in his sugar company, Dangote Sugar Refinery Plc (DSR), will generate at least 300,000 jobs in Nigeria. Dangote is continuing to strategically invest in his sugar company in accordance with the Nigeria Sugar Master Plan’s requirements (NSMP).

The leading billionaire said that the new employment prospects will include both direct and indirect jobs when he made this claim during a speech at the flag-off ceremony for the 2022–2023 Crushing Season and Outgrower Scheme Awards in Numan, Adamawa State.

NEXT:

Rwandan President Paul Kagame Sides with China in Power Tussle with USA

Leave a Reply

Check Also

10 Things You Didn’t About Super Footballer Pele

The legendary soccer player and Brazilian ambassador, Edson Arantes do Nascimento better k…