… ‘You assume small, you don’t develop; you assume large, you develop’
… LBS hails Dangote as a visionary chief fixing Africa’s issues
President/Chief Govt of Dangote Industries Restricted, Aliko Dangote, has urged African entrepreneurs, enterprise leaders and rich people to spend money on the event of the continent.
Talking whereas internet hosting members of the World CEO Africa Programme from Lagos Enterprise School and Strathmore Enterprise School, Nairobi, after a tour of the Dangote Petroleum Refinery & Petrochemicals in Ibeju-Lekki, Lagos, Dangote emphasised that with the precise investments, Africa has the potential to develop and compete globally.
He asserted that what the continent wants are daring and transformative initiatives able to addressing its long-standing challenges. Citing the profitable development of the world’s largest single-train refinery—the Dangote Petroleum Refinery—as proof that nothing is inconceivable, he maintained that related achievements may be replicated throughout sectors to drive {economic} progress.
Dangote mirrored on the preliminary scepticism surrounding the refinery undertaking, noting that regardless of quite a few obstacles, the group remained steadfast in its dedication to delivering on its imaginative and prescient.
“There’ll all the time be challenges. In reality, life with out challenges isn’t thrilling. You simply hope for the form of challenges you’ll be able to overcome—not those that overwhelm you,” he remarked.
He defined that finishing the refinery has emboldened the group to pursue much more formidable targets: “Now that we’ve constructed this refinery, we imagine we will do something. We purpose to make our fertiliser firm the most important on the earth—and we’ve set ourselves a 40-month timeline.”
Dangote highlighted Africa’s wealth in each human and pure sources, stressing that enterprise leaders are in a privileged place to harness these property and create jobs for the continent’s rising inhabitants. He acknowledged that growth can’t be left to governments alone, urging the non-public sector to belief in nationwide management and make investments at house as an alternative of transferring capital overseas.
“We, as Africans, should cease taking our cash overseas. We should always make investments it right here to construct our international locations and the continent. As for me, I don’t take my cash out of Africa. If we don’t present confidence in our personal economies and management, overseas buyers actually received’t. In spite of everything, we all know our leaders higher than anybody else. That cash being taken out of the continent must be left right here, the place it will possibly profit everybody,” he suggested.
Whereas many African nations have achieved political independence, Dangote argued that they continue to be economically dependent. He cited international locations like Dubai and Singapore, which had been on par with some African international locations within the Nineteen Seventies however have surged forward by deliberate insurance policies and partnerships with visionary entrepreneurs.
Dangote expressed concern in regards to the disparity between Africa’s quickly rising inhabitants and the restricted job alternatives out there. He referred to as for a robust banking sector, a strong manufacturing base, and a thriving agricultural sector as cornerstones of the continent’s transformation.
He additionally burdened the significance of improved interconnectivity amongst African nations, revealing that it’s presently cheaper to import items from Spain than to move cement clinker from Nigeria to neighbouring Ghana.
Acknowledging coverage inconsistency and infrastructural challenges, Dangote inspired the visiting CEOs to not be deterred however to stay formidable whereas buying deep data of their respective industries.
“If you happen to assume small, you don’t develop. If you happen to assume large, you develop. It’s higher to attempt to fail than by no means to strive in any respect,” he suggested the 24 CEOs in attendance from six African international locations.
Educational Director of the World CEO Africa Programme at Lagos Enterprise School, Patrick Akinwuntan, defined that the initiative is designed to encourage Africa’s future enterprise leaders.
The programme, in partnership with Strathmore Enterprise School in Nairobi, contains three modules, requiring members to spend per week every in Nairobi (Kenya), Lagos (Nigeria), and New Haven (USA).
“The objective is to nurture enterprise leaders who see Africa as a single market—one with out borders—targeted on the continent’s huge potential. The refinery is a strong image that imaginative and prescient goes past mere sight,” he stated.
Akinwuntan, who can be the previous Managing Director of Ecobank Nigeria, praised Dangote for his integrity, competence, and boldness in bringing such a monumental undertaking to fruition.
Govt Dean of Strathmore Enterprise School, Dr Caesar Mwangi, echoed these sentiments. He stated the go to would encourage CEOs to grasp that solely Africans can actually develop the continent.
“This refinery is the world’s largest single-train refinery. It’s proof that we should dream large, assume large, and—most significantly—act. If the Dangote Group can obtain this, then so can others throughout the continent,” Mwangi stated.
“Each CEO right here can take this inspiration again house and provoke impactful initiatives that may uplift our continent and create alternatives for the tens of millions of younger Africans who want them,” he added.
Dean of Lagos Enterprise School, Prof Olayinka David-West, acknowledged that the go to aligned with the college’s mission of grooming leaders able to addressing Africa’s advanced social and institutional challenges.
She lauded Dangote as a visionary chief who mobilises sources to confront the continent’s essential issues. She famous that the refinery’s ripple impact extends past petroleum manufacturing, enhancing livelihoods and nationwide wellbeing.
“This facility is pivotal. It serves as a sensible software to implement frameworks just like the African Continental Free Commerce Space (AfCFTA). Whereas it’s one undertaking, its results might be felt throughout a number of sectors,” she defined.
Dr Rabiu Olowo, CEO of Nigeria’s {Financial} Reporting Council and a participant within the programme, stated the go to had reignited the necessity for daring and brave considering in pursuing sustainable nationwide growth.
The visiting CEOs additionally included world banking chief Segun Aina; Managing Director of Household {Bank}, Nairobi, Nancy Njau; Govt Director and Chief {Financial} Officer for Cameroon, CEMAC, and CESA Area at Ecobank, Emmanuel Wakili; and former President of the CFA Society Nigeria, Ibukun Oyedeji, amongst others.
