... Africans Will Develop Africa, Dangote Tells Global CEOs
... ‘You think small, you don’t grow; you think big, you grow’
... LBS Hails Dangote as Visionary Leader Solving Africa’s Problems
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| –R: Director of Academic Affairs, Strathmore Business School (SBS), Carol Musyoka; Director of Academic Affairs, Lagos Business School (LBS), Patrick Akinwuntan; Vice President, Oil & Gas, Dangote Industries Limited, Devakumar Edwin; President/CE, Dangote Industries Ltd, Aliko Dangote; Dean, Lagos Business School (LBS), Professor Olayinka David-West; Executive Dean, Strathmore Business School (SBS), Nairobi, Kenya, Dr. Caesar Mwangi, during the visit of LBS’ Global CEO Africa Programme Cohort 5 to the Dangote Petroleum Refinery and Fertiliser Plant in Ibeju-Lekki, Lagos, on Thursday, July 10, 2025. |
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has called on African entrepreneurs, business leaders, and high-net-worth individuals to invest in the continent’s development.
Speaking during a visit by participants of the Global CEO Africa Programme from Lagos Business School and Strathmore Business School, Nairobi, to the Dangote Petroleum Refinery & Petrochemicals in Ibeju-Lekki, Lagos, Dangote emphasized Africa’s enormous potential and the urgent need for transformative investments.
He highlighted that the continent must focus on bold, impactful projects to tackle long-standing challenges, citing the successful construction of the world’s largest single-train refinery—the Dangote Refinery—as proof of what is possible when vision meets commitment.
Reflecting on the project's early skepticism, Dangote said: “There will always be challenges. In fact, life without challenges isn't exciting. You just hope for the kind of challenges you can overcome—not the ones that overwhelm you.”
He added: “Now that we’ve built this refinery, we believe we can do anything. Our next goal is to make our fertiliser company the largest in the world—and we’ve set ourselves a 40-month timeline.”
Dangote stressed that Africa is rich in both human and natural resources and urged business leaders to build on that foundation by creating jobs and investing locally.
“We must stop taking our money abroad. If we don’t show confidence in our economies and leadership, who will? That money being taken out should stay here, where it can benefit everyone.”
He argued that while Africa may be politically independent, many nations remain economically dependent.
“Countries like Dubai and Singapore were on the same level as some African nations in the 1970s, but through consistent policies and private sector collaboration, they have moved ahead.”
Dangote noted that infrastructure, policy consistency, and connectivity between African countries must improve.
“It is cheaper to import goods from Spain than to move clinker from Nigeria to Ghana. That must change.”
Encouraging participants to think boldly, he said: “If you think small, you don’t grow. If you think big, you grow. It’s better to try and fail than not try at all.”
Patrick Akinwuntan, Academic Director of the Global CEO Africa Programme at LBS, said the initiative was created to inspire business leaders to view Africa as a borderless, single market.
“The refinery visit demonstrates that vision is more than sight. It's about transforming dreams into reality.”
Dr. Caesar Mwangi, Executive Dean of Strathmore Business School, echoed similar sentiments: “This visit is proof that Africans must dream big and act. Dangote has shown what’s possible. Now, every CEO here must go back and execute with the same ambition.”
Professor Olayinka David-West, Dean of Lagos Business School, praised Dangote’s commitment to solving Africa’s pressing problems through resource mobilization and strategic leadership.
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| Vice President, Oil & Gas, Dangote Industries Limited, Devakumar Edwin; President/CE, Dangote Industries Ltd, Aliko Dangote; Dean, Lagos Business School (LBS), Professor Olayinka David-West; Executive Dean, Strathmore Business School (SBS), Nairobi, Kenya, Dr. Caesar Mwangi, during the visit of LBS’ Global CEO Africa Programme Cohort 5 to the Dangote Petroleum Refinery and Fertiliser Plant in Ibeju-Lekki, Lagos, on Thursday, July 10, 2025. |
“The refinery isn’t just about petroleum; it’s a transformative project with ripple effects across multiple sectors. It aligns with AfCFTA and supports regional integration.”
Dr. Rabiu Olowo, CEO of the Financial Reporting Council of Nigeria, said the visit rekindled the need for courageous thinking in national development.
Participants also included notable leaders like Segun Aina, Nancy Njau (Managing Director, Family Bank, Nairobi), Emmanuel Wakili (Executive Director & CFO for Cameroon/CEMAC/CESA, Ecobank), and Ibukun Oyedeji, former President of CFA Society Nigeria.
DSC_4249: Some members of the Lagos Business School’s Global CEO Africa Programme Cohort 5 at the Dangote Refinery Central Laboratory during their visit to the Dangote Petroleum Refinery and Fertiliser Plant in Ibeju-Lekki, Lagos, on Thursday, July 10, 2025.
DSC_4384: Group photograph of the team from Lagos Business School’s Global CEO Africa Programme Cohort 5 during their visit to the Dangote Petroleum Refinery and Fertiliser Plant in Ibeju-Lekki, Lagos, on Thursday, July 10, 2025.
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L–R: Vice President, Oil & Gas, Dangote Industries Limited, Devakumar Edwin; President/CE, Dangote Industries Ltd, Aliko Dangote; Dean, Lagos Business School (LBS), Professor Olayinka David-West, during the visit of LBS’ Global CEO Africa Programme Cohort 5 to the Dangote Petroleum Refinery and Fertiliser Plant in Ibeju-Lekki, Lagos, on Thursday, July 10, 2025.
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Group photograph of the team from Lagos Business School’s Global CEO Africa Programme Cohort 5 during their visit to the Dangote Petroleum Refinery and Fertiliser Plant in Ibeju-Lekki, Lagos, on Thursday, July 10, 2025