“Dangote To Global CEOs: Don’t Wait On The West — Africa Must Build Itself”

President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has passionately urged African entrepreneurs, business leaders, and wealthy individuals to channel their resources into building the African continent.

According to BushRadio, Dangote made the call while hosting participants of the Global CEO Africa Programme—an initiative of Lagos Business School and Strathmore Business School, Nairobi—at the Dangote Petroleum Refinery & Petrochemicals in Ibeju-Lekki, Lagos. He noted that with the right kind of investments, Africa could position itself competitively on the global economic stage.

A statement from Dangote Group quoted the billionaire businessman as saying that Africa needs bold and transformative projects capable of solving its long-standing developmental challenges. Citing the successful construction of the 650,000 barrels per day Dangote Refinery, the world’s largest single-train refinery, he affirmed that “nothing is impossible” if African leaders act decisively.

Reflecting on the early doubts surrounding the refinery, Dangote explained that despite numerous obstacles, the group remained focused on its goal. “There will always be challenges,” he said. “What matters is facing the ones you can overcome.”

Completing the refinery, he revealed, has emboldened his team to take on even more ambitious ventures—like turning their fertiliser plant into the largest in the world within a 40-month target.

According to BushRadio, Dangote stressed that Africa’s wealth in both human and natural resources must be managed by Africans. He called on business leaders to show confidence in their economies by investing locally instead of moving capital overseas.

“We as Africans must stop taking our money abroad. We should invest it here, in our countries and across the continent,” he said. “If we don’t trust in our own economies and governments, how can we expect foreign investors to?”

He lamented that while African nations may have gained political independence, many remain economically dependent. Dangote pointed to nations like Dubai and Singapore, which were once on par with African countries but have since advanced through deliberate investments and private-public collaborations.

He expressed deep concern about Africa’s ballooning youth population and the limited job opportunities available. To bridge this gap, he advocated for a strong banking sector, a robust manufacturing base, and a vibrant agricultural economy.

He also decried poor intra-African trade and connectivity, noting that it’s currently cheaper to import goods from Spain than to move cement clinker from Nigeria to Ghana.

Dangote urged the CEOs not to be discouraged by policy inconsistency or infrastructure challenges, but instead to stay focused, learn deeply, and think big. “If you think small, you stay small. But if you think big, you grow,” he advised.

Patrick Akinwuntan, Academic Director of the Global CEO Africa Programme at Lagos Business School, said the initiative was designed to raise business leaders who see Africa as a unified economic zone full of potential.

“The Dangote Refinery is more than infrastructure—it’s a beacon of what is possible,” he stated.

Dr. Caesar Mwangi, Executive Dean of Strathmore Business School, said the visit underscored a key truth: only Africans can truly develop Africa. He challenged the CEOs present to replicate such impactful projects in their home countries.

Prof. Olayinka David-West, Dean of Lagos Business School, added that the project is aligned with AfCFTA goals and exemplifies African-led solutions to African problems.

According to BushRadio, the visit included notable participants such as Dr. Rabiu Olowo of Nigeria’s Financial Reporting Council; Segun Aina, a global banking leader; Nancy Njau, Managing Director of Family Bank, Nairobi; Emmanuel Wakili of Ecobank; and Ibukun Oyedeji, former President of CFA Society Nigeria, among others.

”BUSHRADIO REPORTS”