Dangote Calls on Wealthy Nigerians to Invest in Nigeria for Growth and Development

 

Aliko Dangote, President and Chief Executive of Dangote Industries Limited, has called on wealthy Nigerians to invest in Nigeria to drive growth and development, noting that real growth and development cannot happen without significant investments.

Dangote, while speaking to newsmen disparaged the tendency of African wealth being exported and stashed abroad, urging entrepreneurs and affluent individuals to invest at home.

President and Chief Executive of Dangote Industries said, “No nation develops without significant investments. I appeal to all wealthy Nigerians to look inward and invest here, in Nigeria, for the future of our unborn kids.”

Commenting about his decision to build the $20bn refinery, despite numerous challenges and opposition, he said, “People think building a refinery is like building a house. But, as I always say, if I had known the scale of challenges we would face, I wouldn’t have started at all.”

He expressed optimism that the refinery would inspire other African countries to enhance their refining capacities and invest in value-added industries.

Dangote also emphasized the importance of economic self-reliance and financial freedom for African citizens and warned that continued import dependency would keep African nations trapped in poverty.

“True independence goes beyond politics—it also requires economic self-reliance and financial freedom for African citizens,” he said.

Dangote harped on the need for operational refineries on the continent, and lamented that most African countries rely heavily on imported refined petroleum products despite abundant crude oil reserves.

“Apart from Algeria and Libya, which are self-sufficient, virtually every other African country is an importer,” Dangote revealed.