Dangote’s Investments Strengthening Nigeria’s Industrial Capacity – Tinubu

President Bola Ahmed Tinubu has commended the Dangote Group for strengthening Nigeria’s industrial capacity through major investments in key sectors of the economy.

The President said the conglomerate’s investments had boosted domestic production, created jobs, reduced dependence on imports, conserved foreign exchange and supported the growth of local supply chains.

Tinubu gave the commendation during a visit to the Dangote Group pavilion at the ongoing 32nd Nigeria Economic Summit at the Transcorp Hilton, Abuja, on Monday. He was represented at the event by Vice President Kashim Shettima.

The President praised the Group’s performance across its business operations, noting the important role of private-sector investment in expanding Nigeria’s productive capacity, stimulating economic activity and supporting national development.

“Through its investments in strategic industries, the Dangote Group remains a major private-sector participant in Nigeria’s industrialisation drive,” he said.

Tinubu said the Group’s operations in cement manufacturing, fertiliser production, sugar refining, salt processing and petroleum refining were contributing to local value addition, employment generation and the development of domestic supply chains.

He added that the investments were also supporting efforts to reduce Nigeria’s reliance on imported products.

The President said his administration was creating the right conditions for both the public and private sectors to invest, expand and generate productive employment.

“Dangote Group is the second biggest employer of labour after the federal government,” he said.

The 2026 Nigeria Economic Summit, themed “Growth That Works: Delivering Jobs, Productivity and Shared Prosperity,” was declared open by the President.

At the summit, Tinubu defended the Federal Government’s ongoing economic reforms and stressed the need for industrial harmony and private-sector-led growth.

He said the summit had brought together policymakers, business leaders, investors and other stakeholders to discuss practical ways to accelerate economic growth, improve productivity, generate employment and ensure that the benefits of growth reach more Nigerians.

The President said Nigeria had performed below its potential for too long, adding that there was no shortcut to economic development.

“We came to rewrite the story of a nation that has performed below its potentials for far too long,” he said.

Tinubu said sustained collaboration between government and the private sector was necessary to build a more productive, competitive and resilient Nigerian economy.

He noted that the Dangote Group’s diversified operations had established a strong presence across critical sectors, providing products and services that support construction, agriculture, manufacturing, energy and other productive activities.

One of the Group’s major investments is the Dangote Petroleum Refinery and Petrochemicals complex in Lagos.

The President said the refinery had the potential to transform Nigeria’s downstream petroleum industry by increasing domestic refining capacity and reducing the country’s dependence on imported refined petroleum products.