Africa’s richest man, Aliko Dangote, has endorsed President Bola Ahmed Tinubu’s ambition to grow Nigeria into a $1 trillion economy, describing the target as “achievable” and aligning it with his conglomerate’s $100 billion revenue goal by 2030.
Dangote made the remarks on July 29, 2026, during a working visit by top government officials to the Dangote Petroleum Refinery and Petrochemicals complex in Ibeju-Lekki, Lagos, according to statements and remarks at the event.
“President Tinubu’s vision of a $1 trillion economy is the best and is achievable and that is why we took out of that vision to carve out our own vision of $100 billion,” Dangote said, adding that the group aims to contribute about 10 percent of the national target.
The Federal Government also highlighted the Dangote Refinery as central to achieving the $1 trillion economy goal. Minister of State for Industry, Senator John Owan Enoh, who led a delegation to the facility, described it as a critical driver of Nigeria’s industrial growth.
“You cannot be minister in charge of industry and not visit the Dangote Refinery,” Enoh said. “This facility matters because of what it represents for Nigerian industry, for our people and for the realisation of President Bola Tinubu’s vision of a one trillion-dollar economy.”
He noted that the refinery has helped reposition Nigeria from a major importer of refined petroleum products to an exporter, serving markets beyond Africa.
Dangote, in turn, stressed the importance of industrialisation in achieving economic growth, job creation and attracting foreign investment. “There is no way to create jobs and prosperity without industrialisation,” he said. “The greatest attraction for foreign investors is the success of domestic investors.”
The endorsement comes as the Federal Government pushes reforms aimed at expanding Nigeria’s economy, including the Nigeria Industrial Policy launched in 2026, which targets increasing manufacturing’s contribution to GDP to 20 percent by 2030.
President Tinubu’s $1 trillion economy target is a cornerstone of his Renewed Hope agenda and would require sustained double-digit economic growth, significantly expanding Nigeria’s current GDP size.
Parallel to this, Dangote Group’s Vision 2030 strategy aims to grow annual revenue to $100 billion, driven by major investments across refining, fertiliser production, cement, energy and infrastructure.
Key plans include expanding refinery capacity, increasing fertiliser output, and scaling operations across Africa, positioning the group as a major contributor to Nigeria’s industrialisation drive.
Analysts say the alignment between government policy and private sector ambition signals a growing synergy that could accelerate economic transformation, though challenges such as infrastructure gaps, power supply and investment climate remain critical factors.
The Dangote Refinery, already one of the largest industrial projects in Africa, is seen as a flagship example of local value addition and a key pillar in Nigeria’s push toward economic self-sufficiency and export growth.
