President Bola Ahmed Tinubu has commended the Dangote Group for its contribution to Nigeria's economic growth, citing the conglomerate's strategic investments in key sectors as instrumental in boosting domestic production, creating jobs, reducing dependence on imports, conserving foreign exchange and strengthening industrial capacity. The President made the comments during a visit to the Dangote Group pavilion at the 32nd Nigeria Economic Summit in Abuja on Monday, represented by Vice President Kashim Shettima.
Tinubu praised the Group's performance across its business operations, highlighting the critical role of private-sector investments in expanding productive capacity and stimulating economic activities. The Dangote Group operates across cement manufacturing, fertiliser production, sugar refining, salt processing and petroleum refining. These operations contribute to local value addition, employment generation and the development of domestic supply chains. Dangote Group is the second biggest employer of labour after the Federal Government.
The President said his administration is creating conditions for public and private sectors to invest, expand and generate productive employment. He used the Economic Summit to defend the Federal Government's ongoing economic reforms and emphasise the importance of industrial harmony and private-sector-led growth. Tinubu noted that Nigeria has performed below its potential for far too long, stating that there is no shortcut for economic development.
One of Dangote's major investments is the Dangote Petroleum Refinery and Petrochemicals complex in Lagos, which has the potential to transform Nigeria's downstream petroleum industry by increasing domestic refining capacity and reducing the country's reliance on imported refined petroleum products. The summit, themed 'Growth That Works: Delivering Jobs, Productivity and Shared Prosperity', brought together policymakers, business leaders, investors and other stakeholders to discuss strategies for accelerating economic growth, improving productivity and generating employment.
The President's commendation underscores the importance of sustained collaboration between government and the private sector in building a more productive, competitive and resilient Nigerian economy. Through its diversified operations, the Dangote Group has established a substantial presence across critical sectors, providing products and services that support construction, agriculture, manufacturing, energy and other productive activities.