Nigerian billionaire Aliko Dangote has launched an investment project worth $2.5 billion, aimed at building large petroleum storage facilities and a pipeline that will transport petroleum products to various countries in Southern Africa.

The project was launched on November 4, 2026, in the city of Walvis Bay, Namibia, during a ceremony attended by the country's President, Netumbo Nandi-Ndaitwah.

The project involves the construction of storage facilities with a capacity of 600 million litres of petroleum products, including 360 million litres of diesel and 240 million litres of petrol. The storage facilities will have eight times the capacity of Namibia's existing storage facilities.

Another component of the project is a pipeline stretching approximately 1,700 kilometres, which will connect Namibia to other countries in the region, including Botswana, Zambia, Zimbabwe, Malawi and the Democratic Republic of Congo (DRC).

The pipeline is expected to help transport petroleum products to landlocked countries, thereby reducing some of the challenges associated with transportation and the cost of delivering these products to markets.

Aliko Dangote said the project aims to help African countries strengthen petroleum security and reduce their dependence on markets outside the continent.

Construction of the storage facilities and related infrastructure is expected to take between 18 and 20 months. However, the project is still in the preparation and implementation stages, meaning its actual capacity will become clear once construction is completed.

Namibia's Prime Minister, Elijah Ngurare, praised the project, saying it could contribute to the country's economic development, boost industrial activities and create new jobs.

Aliko Dangote's project comes at a time when many African countries are seeking ways to increase their capacity to store and distribute petroleum products, with the aim of facilitating trade and strengthening energy security across the continent.

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