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Dangote Urges Wealthy Nigerians to Invest Locally for National Growth
Dangote Urges Nigeria’s Wealthy to Invest Locally for Sustainable Development
Aliko Dangote, President and CEO of Dangote Industries Limited, has urged Nigeria’s affluent citizens to invest within the country, stressing that local investments are essential for sustainable national development.
In an exclusive media briefing, Africa’s richest man emphasized that no country can thrive economically without the active participation of its wealthy elite in domestic investments.
“No nation develops without significant investment from its own people,” Dangote said. “I appeal to all wealthy Nigerians—invest here, at home, for the sake of future generations.”
Dangote criticized the widespread trend of capital flight among African elites, calling it detrimental to the continent’s economic future. He noted that while corruption exists in many countries, the key difference is that others often reinvest their wealth domestically, fueling infrastructure growth and industrial development.
“Corruption is not unique to Nigeria. The difference is, in other countries, the proceeds are reinvested in their economies—not hidden in foreign banks that contribute nothing to local development,” he added.
Capital Flight Weakens Africa’s Potential
Dangote highlighted the urgent need for transformative infrastructure and industrial projects across Africa, particularly in areas like job creation and energy production. He warned that the continued export of African wealth severely limits the region’s ability to overcome socio-economic challenges.
As a case study, he pointed to the $20 billion Dangote Refinery—Africa’s largest—which he said was built to reduce Nigeria’s dependence on imported refined fuel, despite the country’s vast crude oil reserves.
“Except for Algeria and Libya, nearly all African nations import refined petroleum. That makes the continent a dumping ground for low-quality fuel,” Dangote explained.
Overcoming Challenges for a Continental Vision
Dangote admitted that the journey to complete the refinery was riddled with unforeseen challenges, describing the effort as a major leap of faith.
“If I had known how difficult it would be, I might not have started,” he said. “But we believed in the vision. And sometimes, not knowing the full scale of a challenge can be a blessing.”
He expressed hope that the refinery would spark similar large-scale investments across the continent, helping Africa transition from a raw material exporter to a hub for value-added production.
“As long as we keep exporting raw materials and importing finished products, Africa will remain economically dependent and underdeveloped,” he warned.
A Call for Economic Independence
Dangote concluded by stating that true independence must go beyond political freedom—it must include economic and financial sovereignty for Nigeria and the African continent.
“Genuine freedom means being able to stand on our own, economically. If we don’t build that capacity, we’ll always be vulnerable,” he said.
Once fully operational, the Dangote Refinery is expected to process 650,000 barrels of crude oil per day, reduce Nigeria’s import dependence, support foreign exchange stability, and create thousands of jobs.
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Kickstart Your Career in Safety, Health & Environment: Apply for the 2025 Unilever SHE Internship Program
Are you a recent graduate with a passion for safety, health, and environmental sustainability? Unilever, a global leader in consumer goods, invites aspiring professionals to apply for its 2025 SHE (Safety, Health & Environment) Internship Programme at the Anderbolt Factory in Boksburg, Gauteng.
This internship offers a unique opportunity to gain hands-on experience within a global company dedicated to creating safer workplaces and a more sustainable world. Interns will work alongside seasoned professionals and contribute to Unilever’s commitment to world-class SHE practices.
About the Program
The Unilever SHE Internship is designed to equip young South African graduates with practical skills and industry insight. Interns will support and learn from experienced teams involved in ensuring workplace safety, promoting health, and driving environmental compliance in a dynamic manufacturing environment.
Location: Anderbolt Factory, Boksburg, Gauteng
Duration: Full-time internship (duration unspecified)
Who Should Apply?
The program is ideal for recent graduates who hold a degree or diploma in any of the following fields:
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Safety Management
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Occupational Health
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Environmental Management
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Environmental or Life Sciences
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Passionate about sustainability and SHE practices
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Exposure to global SHE standards and practices
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Real-time reporting and analysis of environmental performance metrics
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Mentorship from industry leaders in one of Unilever’s key manufacturing facilities
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A collaborative work environment focused on achieving a zero-harm culture
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Be prepared to participate in a screening process; only successful candidates will be admitted into the academy
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Submit your CV via email to:
[email protected]
Use the subject line:
“Pharmacist Internship Program Application”
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