Leading economists, financial experts and industry stakeholders have identified investments by the Dangote Group as important drivers of industrialisation, job creation and economic transformation in Nigeria and across Africa.
The experts spoke at the Lagos Economic Summit themed ‘The Real Deal: Africa’s Greatest Investment Opportunity’, where they also called for stronger government support for indigenous manufacturers and businesses.
President and Chief Executive Officer of the Africa Finance Corporation, AFC, Samaila Zubairu, commended Dangote Group for sustaining large scale investments across Africa.
Zubairu said such investments were critical to unlocking the continent’s economic potential, particularly as African economies seek to move beyond consumption towards industrial production.
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He noted that recent economic reforms had contributed to improved foreign exchange stability, stronger reserves and easing inflationary pressures, but argued that greater attention should now be given to industrial growth, productivity and employment.
Chief Executive Officer of the Centre for the Promotion of Private Enterprise, CPPE, Muda Yusuf, said industrialisation remained one of the strongest routes to sustainable economic development.
He called for better coordination between trade and industrial policies, arguing that local manufacturers needed strategic support to compete effectively and deliver broader economic benefits.
Founder and Chief Executive Officer of Nairametrics, Ugodre Obi-Chukwu, said Africa’s rapidly growing population represented a major opportunity for industrial expansion.
He said investments such as the Dangote Refinery could help retain capital within Africa while expanding domestic production capacity and reducing dependence on imports.
Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, said Nigeria was gradually moving from a consumption led economy towards one driven by investment and production.
He said sustained investment in productive sectors would be critical to stimulating economic growth, creating jobs and improving living standards.
Participants at the summit also called for stronger credit infrastructure, improved national identification systems and greater investment in skills development to raise the productivity and global competitiveness of Africa’s growing youth population.
