Dangote eyes $30 billion revenue target amid U.S. tariff concerns.

Aliko Dangote, Africa’s richest man, says the Dangote group is on track to generate $30 billion in total revenue next year, despite growing concerns among global businesses about the potential impact of U.S. President Donald Trump’s trade tariffs.

Dangote revealed that the conglomerate, which spans key sectors like cement, sugar, fertilizers, and a newly launched 650,000-barrels-per-day, is set to grow its earnings by at least $5 billion in 2026, up from a projected $25 billion this year.

Trump’s tariffs spared oil and gas exports, allowing the Dangote Petroleum Refinery to continue selling its products to the United States without disruption. This exemption provides a significant cushion for Aliko Dangote’s broader business strategy, especially as the refinery ramps up output.

In addition, Dangote’s fertilizer business stands to gain from the tariff dynamics. While Nigeria was hit with a 14% levy, its main competitor, Algeria, faces a steeper 30% tariff on urea exports to the U.S., a 16 percentage-point difference that gives Dangote Fertilizer a pricing edge in a critical market.

Dangote, Africa’s richest man, said he initially feared the tariff could hurt exports from Dangote Fertilizer, which began commercial operations in 2022.

The $2.5 billion plant, located on 500 hectares of land in the Lekki Free Trade Zone, is the largest granulated urea fertiliser complex in Africa with a production capacity of 3 million metric tonnes annually.

According to Dangote, roughly 37% of the company’s urea output is shipped to the United States, making the U.S. a key market. However, his concerns eased when he discovered Algeria, another major urea exporter, had been slapped with a higher 30% tariff.

Source: Africabusinessinsider