Africa’s richest man and President of Dangote Industries Limited, Aliko Dangote, has called on African entrepreneurs, business leaders, and high-net-worth individuals to invest in the continent’s future by developing transformative projects that address its long-standing challenges.
Dangote made the call while hosting participants of the Global CEO Africa Programme, a partnership between Lagos Business School and Strathmore Business School, Nairobi, who toured the massive Dangote Petroleum Refinery and Petrochemicals complex in Ibeju-Lekki, Lagos.
Speaking during the visit, Dangote urged his guests to reimagine Africa as a continent brimming with potential, not just problems.
“Africa has everything it needs, human and natural resources, to compete globally. But we need bold investments, not half-measures,” he said.
Referencing his newly completed $19 billion refinery, the world’s largest single-train facility, Dangote said the project is living proof that ambitious dreams are achievable on African soil.
“Many didn’t believe in this refinery. But we pushed forward, despite all odds. Now that we’ve built it, we believe we can do anything,” he declared.
The refinery, which has begun production, aims to make Nigeria self-sufficient in refined petroleum products, reduce import dependency, and serve as a springboard for regional economic integration.
Dangote revealed that the group's next ambitious target is to make its fertiliser plant the world’s largest within the next 40 months.
The business magnate decried the ongoing capital flight from Africa by its elite.
“We, as Africans, must stop taking our money abroad. We should invest it here to build our countries and the continent. I don’t take my money out of Africa, and I urge others to do the same,” he urged.
Dangote stressed that if Africans lack confidence in their economies and leadership, it would be unrealistic to expect foreign investors to take the plunge.
“After all, we know our leaders better than anyone else,” he said.
Dangote also expressed concern over Africa’s continued economic dependence, despite decades of political independence.
He cited Dubai and Singapore as examples of nations that transformed their fortunes through intentional policymaking and strong public-private partnerships.
“In the 1970s, Dubai and some African countries were at the same level. Today, look at where they are and look at us. The difference is vision and execution,” he added.
Dangote emphasised that the real crisis facing Africa is not just poverty, but unemployment and underdevelopment, especially among the youth.
“We must create jobs. Governments alone cannot do this. We need a strong banking system, a resilient manufacturing base, and a booming agricultural sector,” he posited.
The business mogul also criticised the lack of infrastructure and interconnectivity between African countries, calling for improved logistics and trade routes within the continent.
“It costs more to move cement clinker from Nigeria to Ghana than to import it from Spain. That’s unacceptable,” he said.
Despite challenges like inconsistent policies and poor infrastructure, Dangote urged business leaders not to be discouraged.
“If you think small, you stay small. If you think big, you grow. It’s better to try and fail than never to try at all,” he told the 24 CEOs in attendance from six African countries.
Patrick Akinwuntan, Academic Director of the Global CEO Africa Programme at Lagos Business School and former Managing Director of Ecobank Nigeria, explained that the initiative was developed to inspire a new generation of visionary African business leaders.
The programme, which includes weeklong modules in Nairobi (Kenya), Lagos (Nigeria), and New Haven (USA), is a collaboration with Strathmore Business School.
Its core mission is to encourage business leaders to see Africa as a single, integrated market.
“The goal is to nurture CEOs who think beyond national borders and focus on Africa’s shared opportunities.
“What we saw at the Dangote Refinery today proves that Africa’s problems are solvable when vision meets execution.”
Akinwuntan praised Dangote for his integrity, boldness, and competence, describing the refinery as a generational achievement that will ripple across industries.
Echoing these sentiments, Dr Caesar Mwangi, Executive Dean of Strathmore Business School, described the refinery as a beacon of what is possible when Africans take charge of their future.
“This refinery is not just a facility; it’s a message that we must dream big, think big, and act boldly,” Mwangi said.
He encouraged the visiting CEOs to carry the inspiration back to their respective countries and initiate impactful projects that would uplift communities and create jobs.
Similarly, Prof. Olayinka David-West, Dean of Lagos Business School, said the visit to the refinery aligns with the school’s mission of grooming leaders to tackle Africa’s pressing social and institutional challenges.
She commended Dangote for leveraging his success to confront critical issues, noting that the ripple effect of the refinery would extend far beyond petroleum.
“This project will enhance livelihoods, boost GDP, and facilitate implementation of frameworks like the African Continental Free Trade Area (AfCFTA),” she said.
Among the attendees was Dr Rabiu Olowo, CEO of Nigeria’s Financial Reporting Council, who said the visit had renewed his resolve to push for courageous and sustainable reforms in public service and development.
Global banking veteran Segun Aina, Managing Director of Family Bank Kenya Nancy Njau, and Emmanuel Wakili of Ecobank Cameroon were also among the visiting executives.
Former CFA Society Nigeria president Ibukun Oyedeji said the refinery tour was “a wake-up call” to African leaders in business and finance.
“If we truly want change, we must stop waiting for miracles. We must act,” she added.
Dangote concluded the engagement by reinforcing his central message: “Africa’s destiny lies in the hands of Africans. If we don’t do it, no one will. Our continent needs builders, not just dreamers,” he said.
All rights reserved. The content on this website, including text and other digital materials, may not be reproduced, published, broadcast, rewritten, or redistributed, in whole or in part, without the express written consent of The News Accelerator Network.
For advertising inquiries, news coverage, or press releases, please get in touch with us at
📧 thenewsacceleratornetwork@gmail.com
📞 0805 101 7159, 0814 404 8512.
إرسال تعليق