Africa’s wealthiest businessman, Aliko Dangote, has called for bold, long-term thinking to unlock the continent’s potential, stating that Africa could transform into a “heaven” within five years if its leaders and citizens embrace visionary action.
Speaking at the 32nd Annual Meeting of Afreximbank, Dangote emphasized that only Africans can shape the continent’s destiny. “It’s not about amassing wealth,” he said, “it’s about creating it — not just for ourselves, but for our nations.”
Dangote, known for his high-impact investments across West Africa, urged the continent’s business and political elites to shift their focus from short-term profits to sustainable, transformative development. “We must believe in the future of this continent. Nobody else will develop it for us,” he added.
Refinery of Regional Significance
Central to Dangote’s vision is his $20 billion oil refinery in Lagos — the world’s largest single-train refining facility. Despite delays, it began producing diesel, jet fuel, and petrol over the past year. Economists believe the project could significantly reduce Africa’s reliance on European fuel imports, valued at around $17 billion annually.
The facility is expected to reshape regional energy dynamics and contribute to Nigeria’s industrial base, while also boosting intra-African trade in refined products.
In addition, Dangote’s group is preparing to launch a fleet of 4,000 compressed natural gas (CNG) trucks aimed at overhauling Nigeria’s fuel distribution system, cutting costs and improving logistics nationwide.
A Call for African Self-Reliance
Throughout the event, Dangote highlighted the risks of depending on foreign solutions or technology. He pointed out that instead of investing in global tech giants like Amazon or Microsoft, he chose to build infrastructure at home.
His decision has drawn praise from Nigerian officials who see it as a vote of confidence in domestic growth. Dangote’s companies are also aiming to surpass Qatar and become the world’s top exporter of urea-based fertilizer by 2029.
While critics have sometimes questioned the pace of implementation of his mega-projects, Dangote’s message remains consistent: Africa must take charge of its future, invest in its own capacity, and think big.
“Africa can thrive,” he said, “but only if we treat it not as a problem to solve — but as a promise to fulfill.”