President of Dangote Industries Limited, Aliko Dangote, has projected his businesses’ total revenue to exceed $30 billion by the end of 2024. He boasted of the recent restructuring and key personnel in major segments as indicators for his permutations.
The industrialist in his prediction, during an interview with CNN, emphasised the recent development in his business potentials would propel the Dangote Group into the exclusive club of the world’s top 120 corporations.
He detailed that it shouldn’t be overly difficult to reach the $30 billion milestone by the end of the year given the company’s recent restructure and the presence of significant personalities in key business areas.
“We have divided the company now into two. We have myself as group president, then we have the group president, oil and gas and the group president of other businesses.
“And all these ones, when you combine, by the end of this year, we will have a group that will have $30 billion of revenues and that is big. It means that we will be among the biggest 120 companies in the world”, he said
Regarding the highly discussed oil refining facility, Dangote labelled it a “game changer”, underscoring that as foreign ships progressively cease entering Nigeria, the refinery will cut carbon emissions by up to 2 million tonnes because of its huge capacity to cater for all of the nation’s petroleum products.
According to him, “This refinery is going to change the game. You know, improvements all over the place. If we take in all the crude from Nigeria, it means that we’ll take about 21 million barrels per month. And that will also help in terms of reducing the CO2 emissions.
“Rather than ships coming all the way from Europe bringing products, or the ships going out of Nigeria, that is 21 ships going out of Nigeria every month. And then you have the products coming into Nigeria. So in totality when you calculate, you are talking about 480 ships of 1 million barrels., the Chairman, and CEO of Dangote Group added.