Dangote Refinery Symbol Of Africa’s Industrial Rise – LBS

The Dangote Refinery has been described as a project that marks Africa’s emergence as a major player in global industry, with the potential to reshape Nigeria’s economy and drive continental trade under the African Continental Free Trade Area (AfCFTA).

The academic director, Global Chief Executive Officer Africa (GCEO-Africa) Programme, Lagos Business School, Pan-Atlantic University stated this at the visit of the members of the School’s Global CEO Africa programme to the Dangote Petroleum Refinery in Lagos.

The participants, drawn from across the continent, were received at the plant by the chief of staff to the president of the Dangote Group, Alhaji Aliko Dangote, Ibrahim Dikko.

The Global CEO Africa programme is one of Lagos Business School’s flagship initiatives aimed at grooming senior executives from across Africa.

Akinwuntan, said the refinery represents a bold commitment to advancing Africa’s industrial capabilities using local resources and leadership.

“Led by Alhaji Aliko Dangote and funded with local resources, the refinery symbolizes a bold commitment to advancing Africa’s industrial capabilities,” Akinwuntan said.

He noted that the project is particularly significant within the context of AfCFTA, as it provides a practical example of large-scale African enterprise that CEOs across the continent can learn from.

Lagos Business School, he added, is using the refinery as a site for practical learning and innovation for participating executives.

Akinwuntan highlighted the refinery’s direct impact on Nigeria’s economy, saying its operations are enhancing the country’s self-sufficiency in fuel production.

He noted that by refining locally and exporting to markets including the United States, the refinery is helping to bolster Nigeria’s foreign exchange reserves while reducing dependence on imported petroleum products.

“This dual impact represents a significant advancement for Nigeria and positions it favorably in the global economy,” he stated.

On the objectives of the GCEO-Africa Programme, Akinwuntan said Lagos Business School is focused on cultivating African champions in business leadership.

According to him, the programme, run in partnership with Strathmore Business School in Kenya, is designed to foster collaboration between West and East Africa and build a shared vision for the continent’s economic future.

He said the school is deliberate about shifting the narrative on Africa, from focusing on challenges to highlighting opportunities.

“Lagos Business School focuses on highlighting Africa’s opportunities instead of the challenges that often dominate the narrative. By transforming these challenges into valuable assets, the institution aims to contribute meaningfully to Africa’s growth and development,” Akinwuntan said.