Africa’s richest man Aliko Dangote plans to invest more than $3.5 billion in a roughly 2,650-kilometre petroleum-products pipeline linking Namibia, Botswana and South Africa, extending his conglomerate’s push to build a continent-wide fuel distribution network alongside its growing refining and petrochemicals business.

Dangote targets 4,000km African pipeline

Dangote, president and chief executive of Dangote Industries Ltd., disclosed the project during a Bloomberg interview with Francine Lacqua at the Qatar Economic Forum’s UNGA Special Edition in New York. He said the Southern African route is part of a wider pipeline program that could eventually give the group almost 4,000 kilometres of infrastructure across Africa.

“Right now, the budget is over $3.5 billion. But it’s not the only pipeline we’re doing,” Dangote said. “We’re doing a couple of pipelines in Africa.” He said the broader program could push Dangote Industries’ pipeline network to almost 4,000 kilometres when completed, underscoring the scale of his ambitions beyond Nigeria’s borders.

The proposed Southern African route is expected to start in Namibia, run through Botswana and continue into South Africa. Dangote also outlined another corridor from Namibia through Zimbabwe and Zambia toward the Democratic Republic of Congo, pointing to a wider distribution strategy aimed at connecting fuel supplies with major African markets.

Refinery IPO draws investors

The pipeline plans come as Dangote moves to widen public ownership of his flagship refinery. Last week, Dangote Petroleum Refinery and Petrochemicals FZE opened its initial public offering, offering retail investors and institutional funds access to the 700,000-barrel-per-day plant. The share sale values the company at $49 billion and seeks about 2.15 trillion naira, or $1.6 billion.

Demand for the refinery offering surged across Nigeria after subscriptions opened, putting pressure on some digital investment platforms. Bamboo, one of the 40 authorized platforms for the share sale, experienced technical disruptions as investors sought access to the offering, highlighting the intensity of retail interest in one of Nigeria’s largest corporate transactions.

Dangote’s fortune reaches $51.1 billion

The refinery offering spurred a surge in Dangote’s estimated fortune to $51.1 billion, placing him 36th on Forbes’ global billionaire ranking at the time. That valuation put him ahead of John Mars and Jacqueline Mars, each at $50.3 billion, while Hong Kong businessman Li Ka-shing was ranked 39th with $49.9 billion.

The Dangote refinery, built on the outskirts of Lagos at a reported cost of about $20 billion, began operations in 2024 and now produces gasoline, diesel, jet fuel, liquefied petroleum gas and petrochemical feedstocks, including polypropylene. Its output has made the facility a major source of locally produced petroleum products for Nigeria’s expanding domestic market.

The IPO also lowers the barrier to participation for Nigerian retail investors, with subscriptions available from as few as 10 shares through fintech platforms and other digital investment channels. Dangote has framed the offering as a way for ordinary Nigerians to participate in ownership of a refinery that has become central to his industrial strategy.

Public pricing for flagship asset

Dangote will retain an 84.34 percent beneficial stake in Dangote Petroleum Refinery & Petrochemicals if the offering is fully subscribed. The shares represent a 3.3% interest in the refinery and are being offered to the public through Dangote Group. The transaction provides the clearest public pricing yet for the centerpiece of Dangote’s industrial empire.