…If the listing materializes, it would represent one of the most consequential capital market events in recent Nigerian history
MON MAR 02 2026-theGBJournal| The Dangote Group has signed a strategic framework agreement with China Sinoma International Engineering, for the execution of twelve new construction and expansion projects across the Group, deepening industrial collaboration at a time when speculation is mounting over a potential listing of substantial shares of the Group on the Nigerian Exchange Limited.
The agreement, valued at about $1 billion, signals a fresh phase of expansion for Africa’s largest conglomerate, reinforcing its ambition to scale manufacturing capacity and strengthen its position across cement, refining, petrochemicals and other heavy industries.
The deal is tied to the company’s target of reaching 80 million tonnes per annum of production capacity by 2030, within the Dangote Group’s broader goal of $100 billion in annual revenue by the same year, while leveraging Sinoma’s global technical expertise and Dangote’s vast industrial footprint across Nigeria and other African markets.
Under the agreement, Sinoma will deliver new plants, brownfield expansions, and modernisation works across multiple markets. New integrated and grinding facilities are planned for northern Nigeria, Ethiopia, Zambia, Zimbabwe, Tanzania, Sierra Leone, and Cameroon. Within Nigeria, Sinoma will handle projects at Itori, Apapa, Lekki, Port Harcourt, and Onne.
Group Managing Director Arvind Pathak said the agreement was aimed at closing supply gaps and supporting infrastructure development across the continent, with a stated goal of making Africa self-sufficient in cement production. Board chairman Emmanuel Ikazoboh said the completed projects would increase the company’s production capacity and strengthen its position in the African market
The move underscores Dangote Group’s commitment to cost efficiency, technological advancement and project execution excellence, particularly as it continues to consolidate its large-scale assets and pursue new growth opportunities.
The timing of the agreement has fueled market conversations about corporate restructuring and capital market plans for its $20 billion-plus.
Insiders tell theG&BJournal that the conglomerate has already appointed three leading Nigerian investment banks to lead their appearance on the market at a scale that could lift the NGX Exchange’s market capitalization significantly higher.
If the listing materializes, it would represent one of the most consequential capital market events in recent Nigerian history, potentially reshaping liquidity dynamics and broadening market depth.
Combined with strengthened international technical partnerships, the deal positions Dangote Group at the intersection of industrial expansion and capital market evolution, reinforcing its influence in Nigeria’s economic transformation narrative.
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