By Sam Kutos
April 30, 2025
President Bola Tinubu has lauded Aliko Dangote, President of Dangote Group, for his appointment to the World Bank’s Private Sector Investment Lab, emphasizing the significance of the lab’s mission in fostering economic growth through private sector involvement in developing economies.
In a statement released on Wednesday, President Tinubu described Dangote’s selection as “apt,” citing his extensive experience as an investor and employer. He highlighted Dangote’s ability to transform the Dangote Group into one of Africa’s leading conglomerates through innovation, resilience, and continuous capital infusion, making him a symbol of African entrepreneurship.
The President further underscored the scale and ambition of Dangote’s investments, particularly the $20 billion Dangote Petroleum Refinery and Petrochemicals project in Lagos, which he referred to as “Africa’s most daring project and most significant single private investment.”
President Tinubu encouraged Dangote to leverage his expertise and track record to influence the World Bank’s global development agenda, particularly in helping other developing nations benefit from his knowledge of attracting capital and delivering large-scale development projects.
The World Bank announced Dangote’s appointment on Wednesday as part of a broader expansion of its Private Sector Investment Lab, aimed at scaling up solutions to attract private capital and create jobs in the developing world. The expanded membership includes 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.
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