Lagos, July 14, 2025 — Africa’s richest man, Aliko Dangote, addressed CEOs from across the continent—participants in the Global CEO Africa Programme hosted by Lagos Business School and Strathmore—on the imperative of African-led development. Standing before the gleaming infrastructure of the Dangote Petroleum Refinery, he underscored that only Africans can truly unlock Africa’s potential by reinvesting capital locally and dreaming big.
Thinking Big, Not Small
Dangote illustrated his point by spotlighting the refinery, the world’s largest single-train refinery, built against skepticism. "If you think small, you don’t grow. If you think big, you grow," he told the 24 CEOs from six countries. Emboldened by transformative success, he pledged to replicate the model—aiming to lead the world’s largest fertilizer company within 40 months Dangote Industries Limited.
Stop Capital Flight, Start Continental Empowerment
Dangote passionately warned against Africans exporting capital overseas. He called on wealthy individuals and business leaders to stop sending their money abroad and instead invest locally—in manufacturing, agriculture, banking, and infrastructure—to build durable economic foundations.
Tackling Infrastructure Lags
He highlighted inter-African trade barriers: importing goods from Europe can be cheaper than shipping Nigerian cement to Ghana. Such inefficiencies underscore the need for improved infrastructure and policy alignment to unlock the benefits of AfCFTA—the Africa Continental Free Trade Area.
Institutional Leadership & Private Sector
Dangote urged a paradigm shift: governments cannot shoulder development alone. Instead, a powerful private sector, rooted in confidence in African leadership and a deep grasp of local markets, is essential for job creation and economic resilience Dangote Industries Limited.
Shaping the Next Generation
The Global CEO Africa Programme, spanning Lagos, Nairobi, and New Haven, introduces future business leaders to bold thinking and continental integration. Lagos Business School and Strathmore reinforced that Africa must be seen as one market, with Dangote’s refinery serving as a tangible symbol of continental vision.
Why It Matters:
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Redefining Development Agency
Dangote’s stance challenges external dependency, promoting local capital and entrepreneurship as engines for sustainable growth—aligned with ADUNAGOW’s vision of authentic African agency. -
Showcasing Pan-African Unity
His message transcends borders—calling on African CEOs from Nigeria, Kenya, Cameroon, and beyond to collaborate, leverage shared infrastructure, and drive continent-wide integration. -
Modeling Cultural and Economic Leadership
Dangote embodies Africa’s potential: an African billionaire reinvesting in solutions for Africans. This narrative counters defective stereotypes and elevates stories of empowerment and initiative.
Key Quotes
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“If you think small, you don’t grow. If you think big, you grow.” — Dangote at the refinery tour
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“We must stop taking our money abroad... If we don’t show confidence in our own economies, foreign investors certainly won’t.”
What’s Next?
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Fertilizer Expansion: Dangote’s team aims to build Africa’s largest fertilizer producer within 40 months.
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Infrastructure Projects: Plans include new deep-seaport development, reflecting his commitment to logistics and trade efficiency.
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African Private Leadership: More CEOs are expected to follow his lead, reinvesting in transformative industrial and agricultural projects.
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