Susan Abayomi
Nigerian billionaire industrialist and President of Dangote Group, Aliko Dangote, has increased the group’s investment target across Africa from $50 billion to $60 billion by 2030, following the launch of a $2.5 billion fuel storage and pipeline project in Namibia.
The project, unveiled on Wednesday, November 4, 2026, in Walvis Bay, is designed to strengthen petroleum supply across Southern Africa and position Namibia as a major regional fuel distribution hub.
The launch ceremony was attended by Namibia’s President, Netumbo Nandi-Ndaitwah.
The proposed facility will have a storage capacity of approximately 600 million litres, comprising 360 million litres of diesel and 240 million litres of petrol.
It will also feature a 1,700-kilometre pipeline network connecting Namibia with neighbouring countries, including Botswana, Zambia, Zimbabwe, Malawi and parts of the Democratic Republic of Congo.
Speaking at the event, Dangote said the investment would improve fuel accessibility, reduce transportation costs and support energy security across the region, particularly in landlocked countries that depend heavily on imported petroleum products.
He explained that the project would establish Walvis Bay as a strategic energy gateway, connecting coastal supply routes with inland markets.
Dangote said the facility was expected to be completed within 18 to 20 months, although the proposed pipeline routes and connections would require further engineering assessments and regulatory approvals.
He also reaffirmed the group’s commitment to investing in Africa’s industrial development, noting that the revised $60 billion target reflects its growing ambitions across the continent.
The Namibia project forms part of Dangote Group’s broader expansion strategy, which includes investments in petroleum refining, storage, pipelines and distribution infrastructure.
The group currently operates the Dangote Petroleum Refinery in Lagos, Nigeria, and is pursuing additional energy investments across East and Southern Africa.
The development is expected to create opportunities for regional trade, infrastructure development and employment while strengthening Namibia’s position in the Southern African energy market.
