Senior Goldman Sachs Executives Visit Dangote Industries Limited, Laud World-class Refinery

Senior executives from Goldman Sachs have toured the expansive Dangote Industries Limited complex in Lagos, Nigeria, expressing admiration for the integrated petroleum refinery, petrochemicals, and fertilizer facilities. The delegation, led by Anthony Gutman, Co-Chief Executive Officer of Goldman Sachs International, lauded the "ambition, the scale of the project, the quality of the project and the culture of the people."

Aliko Dangote, President and Chief Executive of Dangote Industries Limited, highlighted the transformative potential of long-term investment in Africa, emphasizing that the current achievements are just the beginning. He stated that the group's ambitions extend well beyond 2030, with plans for new investments and acquisitions to scale the business further.

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It is extraordinary what Mr. Dangote and the whole organisation have achieved. The ambition, the scale of the project, the quality of the project and the culture of the people is very impressive.

Dangote expressed confidence in achieving the group's target of generating $100 billion in annual revenue by 2030, based on conservative internal modeling. He noted that the strong internal belief in the company's growth strategy was reflected in the employee participation during the recent private placement of the Dangote Petroleum Refinery.

The Goldman Sachs team included several key figures in global banking and markets, such as Adib N. Zouein, Ryad Yousuf, and Jimi Adesanya. They were welcomed by a senior leadership team from Dangote Industries, underscoring the significance of the visit for both the investment firm and the Nigerian industrial conglomerate.

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No matter how we try to explain what we have built, you cannot fully appreciate it until you see it. But this is only the beginning. We need to look beyond 2030. The next phase of our journey will include new investments and acquisitions as we continue to scale the business.