Aliko Dangote Advocates for Africa's Industrial Growth

Aliko Dangote, president and chief executive of Dangote Industries Limited, stated that Africa's goal of becoming a global industrial powerhouse relies on mobilizing long-term financing, ensuring reliable electricity, and implementing policies that convert natural resources into manufactured goods. Speaking at the 2026 Financial Times Africa Summit in London, Dangote outlined a $50 billion investment program for 2026 to 2030.

He stressed the importance of developing strong financial institutions and infrastructure, particularly in electricity, to unlock Africa's industrial potential. Approximately 650 million Africans lack access to electricity, which hinders local processing of mineral resources.

Dangote shared his experience with the Dangote Petroleum Refinery in Lagos, highlighting challenges in securing conventional project financing and the impact of fluctuating exchange rates on the project. He urged African governments to reconsider industrial protection policies to strengthen domestic manufacturing against cheap imports.