African entrepreneurs have been urged to prioritize investing in the continent, according to Aliko Dangote, President and Chief Executive of the Dangote Group. Speaking at the Imo State Economic Summit 2025, Dangote emphasized that local investments are essential for attracting foreign capital, noting that outsiders are more likely to invest where domestic investors are already committed.
Dangote commended President Bola Tinubu’s economic policies, which have begun to yield results, particularly the removal of fuel subsidies. He said these policies have created a favorable business environment that encourages entrepreneurs to invest in Nigeria. The Dangote Group is leading the way, planning to expand its refinery capacity to 1.4 million barrels per day, which would make it one of the largest refineries in the world.
Highlighting Africa’s vast mineral resources—accounting for roughly 30 % of the world’s total—Dangote stressed that African entrepreneurs must take the initiative to invest in their own continent rather than rely on foreign investors. The group has committed to investing in various sectors, including fertilizer production, with the goal of becoming the largest fertilizer plant in Nigeria by 2028.
Effective power supply, Dangote noted, is also crucial for economic growth. He congratulated Imo State Governor Hope Uzodinma on the 375‑megawatt electricity initiative and announced that the Dangote Group plans to invest in Imo State, focusing on fertilizer production and other sectors.
Dangote’s commitment to investing in Nigeria and Africa is expected to have a positive impact on the continent’s economic development, creating opportunities for growth and job creation. The group’s expansion plans—both the refinery and fertilizer projects—are set to contribute significantly to Nigeria’s economy. By leading by example, Dangote demonstrates the potential for African entrepreneurs to drive economic development, and his continued investments are likely to attract more foreign investors, further boosting growth in Nigeria and beyond.
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