Dangote Group, the largest conglomerate in West Africa, is preparing for a major increase in the number of cargo movements it handles each year, with vessel calls potentially rising from about 300 to as many as 1,800, according to Group Vice President for Oil and Gas Devakumar Edwin.

Edwin disclosed the plan at the Nigeria Chamber of Shipping’s 2026 Members’ Evening in Lagos, where he called for greater financing to help strengthen Nigeria’s local shipping industry.

The expected increase will be driven by the group’s expanding cement, sugar, flour, refining, fertilizer and petrochemical operations, which are creating a larger need to move raw materials and finished products by sea.

Dangote weighs new vessels

China could play a key role in meeting that demand. The country is the world’s largest shipbuilder, making its shipyards a natural option as Dangote considers expanding its maritime capacity.

UNCTAD data shows Chinese shipyards accounted for 54.6% of global shipbuilding output in 2024, ahead of South Korea and Japan combined. China also held almost two-thirds of the global shipbuilding order book at the start of 2025.

For Dangote, the need for more vessels is closely tied to the expansion of its Lagos refinery and other industrial businesses.

The refinery currently has capacity to process 700,000 barrels of crude oil a day. Dangote plans to double that capacity to 1.4 million barrels per day by 2029 under a $14.3 billion expansion program.

Higher refining and petrochemical output would mean more crude, petroleum products, fertilizer, cement and other goods moving between Nigeria and markets across Africa.

Edwin said the group is exploring vessel acquisitions, including ships that could be built in China, as it prepares for the higher cargo volumes.

Dangote Industries is considering vessels to transport products from Nigeria to West and Central Africa after facing difficulties securing shipping capacity for a 1,000-metric-ton shipment to Ghana.

Road transport can also be expensive. Taxes and other charges in countries such as Benin and Togo can add to the cost of moving Nigerian exports by land.

Financing remains a challenge

The plan also exposes a wider problem in Nigeria’s maritime sector. Dangote can generate the cargo needed to support a large fleet, but many Nigerian shipowners lack the vessels and financing to take on that business.

“Without assured cargo and supporting infrastructure, new vessel owners struggle and businesses fail, even when finance is available,” Edwin said.

He urged lenders to support more than vessel purchases, including ship management, insurance, regulatory approvals and long-term charter agreements.

A larger fleet would give Dangote greater control over how its products move across Nigeria and other African markets as the group expands.

The shipping push comes as Dangote prepares to raise about $1.63 billion through the planned initial public offering of its refinery, with the proceeds expected to support its broader expansion plans.

For Nigeria, the potential increase to 1,800 annual vessel calls could also become a test of whether the country’s banks, shipowners and maritime infrastructure can capture more value from the growing trade generated by Africa’s largest private industrial group.