Tinubu Hails Dangote’s Appointment to World Bank Investment Lab

President Bola Tinubu has congratulated Africa’s leading industrialist and Chairman of the Dangote Group, Alhaji Aliko Dangote, on his recent appointment to the World Bank’s Private Sector Investment Lab.

In a statement released on Wednesday by his Special Adviser on Information and Strategy, Bayo Onanuga, President Tinubu described the appointment as well deserved and timely, praising Dangote’s extensive experience, investment acumen, and role in job creation across Africa.

The World Bank’s Private Sector Investment Lab is a high-level global advisory body aimed at accelerating private investment and employment opportunities in developing economies. Tinubu said the lab’s mission strongly aligns with Nigeria’s economic growth objectives and those of other emerging markets.

President Bola Tinubu congratulates Alhaji Aliko Dangote, the President of Dangote Group, on his appointment to the World Bank’s Private Sector Investment Lab, a body tasked with promoting investment and job creation in emerging economies, the statement read in part.

The President cited Dangote’s remarkable achievements, including the growth of the Dangote Group into one of Africa’s largest conglomerates. He praised the business magnate’s innovation, resilience, and capital investments that have made significant contributions to Africa’s industrial landscape.

Highlighting the scale of Dangote’s undertakings, Tinubu singled out the $20 billion Dangote Petroleum Refinery and Petrochemicals project in Lagos  described as the continent’s largest private-sector investment  as a hallmark of his transformative vision.

Dangote Group’s business interests span cement, fertilizer, salt, sugar, oil, and gas, Tinubu noted. However, the $20 billion Dangote Refinery remains Africa’s most daring project and the most significant single private investment.

The President urged Dangote to leverage his new role at the World Bank to help other developing nations benefit from his expertise in mobilizing capital and executing large-scale projects.

He encouraged him to contribute bold ideas and strategies that can advance the World Bank’s agenda for economic transformation through the private sector.

Tinubu also emphasized the global significance of Dangote’s inclusion in the expanded World Bank Lab, which now features other renowned business leaders 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 expanded lab, Tinubu noted, is entering a new phase focused on scaling private-sector solutions to address development challenges such as joblessness and inadequate infrastructure in emerging economies.