Dangote Advocates for African Investment and Self-Sufficiency

Aliko Dangote, founder and president of Dangote Group, asserts that if he does not invest in Africa, others will not follow, advocating for homegrown capital leadership to transform energy supply and industrialization across various sectors. Speaking at the African Investment Forum organized by the Atlantic Council during the IMF World Bank Spring Meeting in Washington, he highlighted the need for Africa to become self-sufficient, potentially by 2028.

Dangote's refinery aims to produce 1.4 million barrels per day, positioning it as the largest refinery globally. He also addressed the critical infrastructure gap in Nigeria, particularly the need for ports and roads to facilitate mining exports.

Dangote plans to expand operations to at least 20 African countries, including Ethiopia and Congo Brazzaville, focusing on fertilizer production to mitigate shortages exacerbated by the Ukraine-Russia war. He emphasized the necessity of regional market cooperation for the African free trade area to succeed.