President Bola Ahmed Tinubu has praised the Dangote Group for its contribution to Nigeria’s economic growth, saying its investments across key industries are helping expand domestic production, create jobs and reduce the country’s dependence on imported goods.

Tinubu made the commendation on Monday, October 26, 2026, during a visit to the conglomerate’s pavilion at the 32nd Nigerian Economic Summit at the Transcorp Hilton in Abuja.

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Vice President Kashim Shettima represented the President at the event.

The President highlighted the importance of private-sector investment in strengthening Nigeria’s industrial capacity, stimulating economic activity and supporting national development.

The Dangote Group operates across several strategic sectors, including cement manufacturing, fertiliser production, sugar refining, salt processing and petroleum refining.

Its activities support local manufacturing, domestic supply chains and employment across different parts of the economy.

Tinubu said his administration was working to create conditions that would enable businesses to invest, expand their operations and generate productive employment.

“We came to rewrite the story of a nation that has performed below its potential for far too long,” the President said, stressing that there was no shortcut to economic development.

He also underscored the need for cooperation between government and private businesses to unlock Nigeria’s economic potential and translate growth into improved livelihoods.

The conglomerate’s investments span industries that supply essential products for construction, agriculture, manufacturing and energy.

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

Greater domestic production can support local value addition and help conserve foreign exchange that would otherwise be spent on imports.

However, the extent of these benefits depends on production levels, market conditions, pricing and the availability of reliable infrastructure.

The Group has also established a significant presence in cement and fertiliser production, industries linked to construction, agriculture and other productive activities.

Its diversified operations make it a major participant in Nigeria’s industrialisation drive, while highlighting the role large-scale private investment can play in developing domestic supply chains.

The 32nd Nigerian Economic Summit, themed “Growth That Works: Delivering Jobs, Productivity and Shared Prosperity”, brought together policymakers, business leaders, investors and other stakeholders to discuss practical measures for improving productivity, expanding employment and ensuring that economic growth benefits more Nigerians.

The summit provided a platform for discussions on how to translate economic reforms and investment into stronger productive capacity and broader prosperity.

Tinubu’s commendation of the Dangote Group reflects his administration’s emphasis on private-sector participation in economic development.

The broader challenge remains ensuring that industrial expansion delivers sustainable jobs, competitive local industries and tangible benefits for households and businesses.

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As Nigeria pursues greater economic diversification, investment in manufacturing, energy, agriculture and other strategic industries is expected to remain central to efforts to strengthen domestic production and build a more resilient economy.