Dangote charts path to Africa’s industrial revolution, prioritising power and financing

Aliko Dangote says Africa’s industrialisation depends on financial institutions able to fund long-term projects, reliable electricity and policies that encourage local manufacturing. Speaking at the Financial Times Africa Summit 2026 in London, he said power shortages prevent countries from processing minerals locally and lead them to export raw materials. He also said his group had to finance the Dangote Petroleum Refinery in Lagos from its own balance sheet because conventional project financing was difficult to secure. Dangote has outlined a $50 billion investment programme for 2026 to 2030.