DANGOTE URGES AFRICAN CEOS TO INVEST BOLDLY IN THE CONTINENT’S FUTURE

Aliko Dangote challenges African leaders to drive economic transformation by investing locally and building globally competitive industries.

Aliko dangote African investment Dangote refinery

President of Dangote Industries Limited, Aliko Dangote with participants of the Global CEO Africa Programme from Lagos Business School and Strathmore Business School
President of Dangote Industries Limited, Aliko Dangote with participants of the Global CEO Africa Programme from Lagos Business School and Strathmore Business School

Africa’s richest man and President of Dangote Industries Limited, Aliko Dangote, has called on African business leaders and entrepreneurs to invest boldly in the continent to unlock its full potential. Speaking during a tour of the Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, with participants of the Global CEO Africa Programme from Lagos Business School and Strathmore Business School, Dangote highlighted the scale and success of the refinery as proof that visionary investments can overcome odds and transform economies.

The $19 billion refinery, the world’s largest single-train facility, is a testament, Dangote said, to Africa’s capacity to compete globally if the private sector is committed to long-term investments. “Africa has the resources, both human and natural, to rise,” he stated, adding, “If we don’t trust our own economies and leadership, we can’t expect foreign investors to.”

Dangote urged African CEOs to prioritize keeping capital within the continent, citing the refinery’s triumph over doubt as a symbol of what’s achievable. He also revealed plans to make the Dangote Fertilizer Plant the world’s largest within the next 40 months.

He emphasized the critical need to strengthen Africa’s banking, agriculture, and manufacturing sectors to meet the demands of the continent’s rapidly growing population. Drawing examples from Dubai and Singapore, he stressed the importance of visionary leadership and strategic policies to catalyze sustainable growth.

“Africa must think big,” Dangote told the 24 CEOs from six countries. “We need to deepen our expertise, stay ambitious, and work toward building industries that serve our people first.” He also called for stronger intra-African trade links, lamenting that it's cheaper to import from Europe than to move goods between neighboring African countries.

Patrick Akinwuntan, Academic Director of the Global CEO Africa Programme, said the initiative is designed to develop leaders who view Africa as a borderless economic region. “The refinery shows what’s possible when vision is matched with execution,” he said.

Dr. Caesar Mwangi, Executive Dean of Strathmore Business School, praised Dangote’s fearless entrepreneurship and urged CEOs to lead projects that uplift communities. Professor Olayinka David-West, Dean of Lagos Business School, noted the refinery’s role in advancing the African Continental Free Trade Area (AfCFTA), describing it as a critical engine for improving lives and economies across the region.

Dr. Rabiu Olowo, CEO of Nigeria’s Financial Reporting Council, said the visit sparked courageous thinking among participants, encouraging them to envision sustainable African-led development.

The Global CEO Africa Programme spans Nairobi, Lagos, and New Haven, equipping a new generation of leaders with the tools to tackle Africa’s most pressing economic challenges, with the Dangote Refinery serving as a living case study in transformative ambition.

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