Leading economists, financial experts and industry stakeholders have described Dangote Group’s investments as significant drivers of industrialisation and economic transformation across Nigeria and Africa.
They cited the investments’ impact on job creation, import substitution, foreign exchange conservation and economic competitiveness, while calling on governments to strengthen support for indigenous manufacturers.
The experts spoke at the Lagos Economic Summit themed, “The Real Deal: Africa’s Greatest Investment Opportunity,” where they advocated policies to strengthen local industries and accelerate economic diversification.
President and Chief Executive Officer of Africa Finance Corporation (AFC), Samaila Zubairu, commended Dangote Group’s sustained investments across Africa, describing them as critical to unlocking the continent’s economic potential.
Zubairu said that while recent economic reforms had improved foreign exchange stability, strengthened reserves and eased inflationary pressures, attention should increasingly shift towards expanding industry, productivity and employment.
Also speaking, Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Muda Yusuf, described industrialisation as the most effective path towards sustainable economic development.
He called for better alignment between trade and industrial policies, arguing that local manufacturers required strategic support to compete effectively and generate wider economic benefits.
Founder and Chief Executive Officer of Nairametrics, Ugodre Obi-Chukwu, said Africa’s growing population represented a significant industrial opportunity.
He cited investments such as the Dangote Refinery as helping to retain capital within Africa while expanding the continent’s domestic production capacity.
In his keynote address, Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, said Nigeria was gradually transitioning from a consumption-led economy towards one increasingly driven by investment and production.
Rewane said sustained investment in productive sectors would stimulate economic growth, generate employment and contribute to improved living standards.
Participants at the summit also advocated stronger credit infrastructure, improved national identification systems and increased investment in skills development to enhance the productivity and global competitiveness of Africa’s growing youth population.
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