Africa’s richest businessman, Aliko Dangote, has stepped up efforts to attract global investment into Nigeria’s energy and industrial sectors, holding strategic talks with top financial leaders at the ongoing IMF and World Bank Spring Meetings in Washington, D.C.
During the high-level engagements, Dangote met with Ajay Banga of the World Bank Group, Kristalina Georgieva of the International Monetary Fund, and John Jovanovic of the Export-Import Bank of the United States, focusing on unlocking financing for infrastructure, trade, and industrial expansion in Nigeria and across Africa.
Dangote used the platform to argue that Africa’s development has been slowed by entrenched foreign interests, while calling for stronger regional cooperation and increased domestic investment. According to him, African investors must take the lead in funding the continent’s growth to reduce perceived risks and attract foreign capital.
He also delivered a keynote address at the launch of the World Bank’s “Water Forward” initiative, highlighting how improved water infrastructure could drive industrialisation, job creation, and economic growth in developing economies.
The push for investment comes amid a turning point in Nigeria’s energy sector. The country recently became a net exporter of petrol for the first time in decades, driven largely by output from the Dangote Petroleum Refinery.
Dangote Industries outlined its ambitious “Vision 2030” strategy, which includes plans to expand refinery capacity from 650,000 to 1.4 million barrels per day and significantly boost fertiliser production. The broader plan also targets growth in cement, food production, infrastructure, and digital capacity.
Back home, the company is set to showcase this vision at the Nasarawa Trade Fair, where it aims to highlight opportunities across its various business units and deepen partnerships with local enterprises.
Dangote reiterated that while foreign investment remains important, real transformation will depend on Africans investing in their own economies first—sending a strong signal that the continent is ready for sustainable, large-scale growth.
