Tinubu praises Dangote Group’s contribution to Nigeria’s economic growth

Business, Economy & Policy, News

ABUJA, Nigeria (Agency Report) — President Bola Tinubu has commended the Dangote Group for its contribution to Nigeria’s economic growth, saying its strategic investments across key sectors are boosting domestic production, creating jobs and strengthening the country’s industrial capacity.

Tinubu also said the conglomerate’s investments were helping to reduce dependence on imports, conserve foreign exchange and expand Nigeria’s productive capacity.

The President gave the commendation on Monday during a visit to the Dangote Group pavilion at the ongoing 32nd Nigeria Economic Summit in Abuja. He was represented at the event by Vice-President Kashim Shettima.

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Tinubu praised the group’s performance across its business operations, highlighting the role of private-sector investment in stimulating economic activity, expanding production and supporting national development.

The Dangote Group has investments spanning cement manufacturing, fertiliser production, sugar refining, salt processing and petroleum refining.

The investments contribute to local value addition, employment generation and the development of domestic supply chains, while supporting efforts to reduce Nigeria’s reliance on imported products.

Tinubu said his administration was working to create an environment that would enable both the public and private sectors to invest, expand operations and generate productive employment.

The Dangote Group is also one of Nigeria’s largest private-sector employers, although the claim that it is the country’s second-largest employer after the Federal Government was not independently verified in the supplied report.

The 2026 Nigeria Economic Summit, themed “Growth That Works: Delivering Jobs, Productivity and Shared Prosperity,” was declared open by the President.

Tinubu used the occasion to defend the Federal Government’s ongoing economic reforms and emphasise the importance of industrial harmony and private-sector-led growth.

He said Nigeria had underperformed relative to its economic potential for too long, adding that sustainable development required deliberate and consistent efforts.

“We came to rewrite the story of a nation that has performed below its potentials for far too long,” he said.

The President also stressed that “there is no shortcut for economic development”.

The summit brings together policymakers, business leaders, investors and other stakeholders to discuss strategies for accelerating economic growth, improving productivity, generating employment and ensuring that the benefits of economic expansion reach more Nigerians.

The President’s commendation highlights the role of sustained cooperation 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 in sectors that support construction, agriculture, manufacturing, energy and other productive activities.

Among its major investments is the Dangote Petroleum Refinery and Petrochemicals complex in Lagos, which is expected to expand domestic refining capacity and reduce Nigeria’s dependence on imported refined petroleum products.

(NAN)