President Bola Ahmed Tinubu has congratulated business magnate Aliko Dangote on his recent appointment to the World Bank’s Private Sector Investment Lab. This global advisory group is tasked with helping to increase private investment and job opportunities in countries with developing economies.
According to a statement released on Wednesday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu noted that Dangote’s inclusion in the high-profile group was fitting. He pointed to Dangote’s long-standing record of driving growth, creating jobs, and building one of Africa’s most successful companies.
“The President describes the appointment as apt, given Dangote’s rich private sector experience, strategic investments, and many employment opportunities created through his Dangote Group,” the statement read.
Tinubu also acknowledged the alignment between the World Bank lab’s goals and Nigeria’s broader economic strategy, which leans heavily on the private sector for development and innovation. He noted that Dangote’s leadership and investments have continued to impact not only Nigeria but the entire African continent.
Dangote’s massive $20 billion refinery project in Lagos received special mention in Tinubu’s statement. Described as Africa’s largest privately funded investment, the refinery is seen as a prime example of how private initiatives can lead to major industrial changes. “However, the $20 billion Dangote Petroleum Refinery and Petrochemicals remains Africa’s most daring project and most significant single private investment,” Tinubu noted.
The President also urged Dangote to bring his business experience and vision to his new role, helping shape ideas that can support job creation and investment in other developing nations. “President Tinubu urges Dangote to bring to bear on the World Bank appointment his transformative ideas and initiatives to impact the emerging markets across the world fully,” Onanuga added.
According to the World Bank, Dangote will serve alongside other high-level figures such as Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.
The World Bank announced the expanded membership of the Private Sector Investment Lab as part of efforts to tackle global challenges like unemployment and infrastructure gaps. The lab’s goal is to draw in more private capital and support job creation through partnerships with leading business leaders.
