Dangote: My Goal Is to Industrialise Africa, Not Accumulate Wealth

Africa’s richest man and President of the Dangote Group, Aliko Dangote, has said that his ultimate ambition is not to accumulate wealth but to leave a lasting legacy by helping to industrialise Africa and transform the continent into a global economic powerhouse.

Dangote made the disclosure during an interview with entrepreneur and motivational speaker James Dumoulin, founder of the School of Hard Knocks platform, where he spoke extensively about his business journey, personal philosophy, faith, wealth, and vision for Africa’s future.

The billionaire industrialist said he has moved beyond the stage of building businesses solely for financial gain and is now focused on creating industries capable of generating jobs, stimulating economic growth and reducing Africa’s dependence on imports.

“I have actually passed the stage of just doing business to make money. I want to leave a legacy. I want to be remembered as somebody who has industrialised Africa,” Dangote said.

The statement offers fresh insight into the motivation behind the billionaire’s massive investments across sectors including cement, sugar, salt, fertiliser, petrochemicals, oil refining and infrastructure development.

Over the years, Dangote has built one of Africa’s largest business empires through strategic investments aimed at addressing critical gaps in local production and manufacturing. His flagship projects, particularly the Dangote Petroleum Refinery and fertiliser plants, have been widely viewed as transformative investments capable of reshaping Nigeria’s industrial landscape and reducing reliance on imported products.

The business mogul noted that creating sustainable industries that can drive economic development across Africa is far more important to him than his position on global billionaire rankings.

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According to Dangote, Africa possesses enormous untapped potential and has all the resources needed to become a major force in the global economy if governments and private investors focus on industrialisation and value addition.

His comments are consistent with his long-standing advocacy for increased local manufacturing and intra-African investment. The billionaire has repeatedly argued that Africa must move away from exporting raw materials and instead develop industries that process resources into finished products capable of competing in international markets.

Speaking on his wealth, Dangote suggested that publicly available estimates of his net worth do not fully reflect the true value of his business empire because several of the group’s biggest assets remain privately held.

“What are they saying? I don’t really look at those things. They say I’m worth $38 billion, but most of our businesses are not listed yet. It will come out soon.”

His remarks have renewed speculation about the possible future listing of major subsidiaries within the Dangote Group, particularly the Dangote Refinery, which industry analysts believe could significantly boost the group’s valuation once listed on the stock market.

The refinery, widely regarded as Africa’s largest single-train refinery, has already begun supplying petroleum products and is expected to play a major role in reducing Nigeria’s fuel import dependence while strengthening energy security across the region.

Dangote also used the interview to make a strong case for investment in Africa, describing the continent as the next major frontier for global economic growth.

“The real future is Africa.”

He pointed to Africa’s rapidly growing population as one of its greatest economic advantages, noting that approximately 70 per cent of Africans are under the age of 30. According to him, the continent’s population is projected to reach about 2.5 billion people by 2050, creating vast opportunities for industrial expansion, innovation, entrepreneurship and consumer growth.

The billionaire further revealed that companies under the Dangote Group generated approximately $10 billion in revenue during the first quarter of the year, underscoring the scale and reach of the conglomerate’s operations across multiple sectors and African markets.

Beyond refining and fertiliser production, Dangote recently unveiled plans to expand into additional sectors including steel manufacturing, electricity generation, gas infrastructure, logistics and port development, as part of a broader strategy to accelerate industrialisation across Africa.

Industry observers say these investments could play a significant role in addressing some of Africa’s most pressing development challenges, including unemployment, infrastructure deficits and limited manufacturing capacity.

Dangote has also consistently emphasised the importance of stable electricity supply to economic growth, arguing that reliable power remains one of the biggest obstacles to industrial development in many African countries.

On the subject of faith, the billionaire reaffirmed his belief in God, attributing much of his success to divine guidance and blessings.

“If I look at myself, I know that God is real.”

Despite being ranked among the world’s wealthiest individuals, Dangote maintained that wealth itself is not his primary objective. Instead, he said his focus remains on building institutions and industries that will outlive him and continue contributing to Africa’s economic transformation for generations.

As African nations increasingly seek economic self-reliance, stronger manufacturing sectors and greater value addition, Dangote’s vision reflects a broader push for African industrialisation, economic diversification and sustainable development.

For the billionaire entrepreneur, the true measure of success will not be the billions attached to his name but the impact of the industries he leaves behind and their contribution to Africa’s future prosperity.

Dangote: My Goal Is to Industrialise Africa, Not Accumulate Wealth

Kanu Expels Ex-IPOB Leader, Nine Others Over Alleged Misconduct

The leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, has announced the indefinite expulsion of former senior official Chika Edoziem and nine other members of the dissolved third administration of the movement’s Directorate of State (DOS), accusing them of violating the organisation’s code of conduct and undermining its leadership.

The decision, contained in a statement dated June 21, 2026, comes just days after the Edoziem-led faction announced Kanu’s purported suspension as IPOB leader over what it described as “unguarded utterances” and allegations of misconduct. IPOB’s Media and Publicity Secretary, Emma Powerful, had earlier dismissed the suspension as unconstitutional, insisting that the third Directorate of State had already been dissolved and no longer possessed the authority to take decisions on behalf of the movement. (The Eagle Online)

In the latest development, Kanu, who is serving a life sentence on terrorism-related charges, announced the indefinite expulsion of Edoziem, Tony Nzurumike, Austin Agbanyim, Chukwudi Oforma, Isaiah Ubah, Collins Chinedu, Chinasa Nworu, Fidelis Ejiogu, Chidinma Nworu (also known as Juliet Edward Filatro), and Keke Uda.

According to the statement, the affected individuals “are hereby expelled from IPOB indefinitely” and “no longer represent, speak for, or act in any capacity on behalf of the Indigenous People of Biafra.”

Kanu explained that he appointed the third administration of the Directorate of State from detention in March 2017, giving it an initial six-month tenure that expired on September 16, 2017, but allowed members to continue serving at his discretion.

He maintained that while the dissolution of the administration was an administrative decision, the latest expulsions were disciplinary actions prompted by what he described as repeated violations of the IPOB Code of Conduct.

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“The Indigenous People of Biafra is governed by its Code of Conduct, which remains the supreme governing instrument of the movement. Every officer, coordinator, representative and member is bound by its provisions without exception,” the statement said.

Kanu further asserted that the power to appoint, suspend, remove or expel officers of the movement resides exclusively in the office of the Supreme Leader.

The expelled officials were accused of abandoning him during his detention by allegedly failing to provide adequate legal representation, welfare and medical support. They were also accused of ignoring his directive for pro-Biafra groups, including AVID, Rising Sun and Ambassadors for Self-Determination, to raise funds for his medical treatment while he was in the custody of the Department of State Services (DSS).

Other allegations levelled against the former officials include undermining his legal team, attacking his lawyers, making allegations against members of his family, spreading what he described as false narratives about the circumstances surrounding his continued prosecution after the Court of Appeal judgment of October 13, 2022, and repeatedly disregarding his directives.

The statement also accused the expelled members of claiming that President Bola Tinubu would only facilitate his release if he abandoned the Biafra agitation, circulating what it described as fabricated claims that two African countries advised them to abandon him, removing officers he had appointed without authorisation, altering the IPOB oath of office and engaging in activities allegedly aimed at weakening the organisation.

“Their repeated violations of the IPOB Code of Conduct and refusal to heed repeated warnings have necessitated this disciplinary action,” the statement added.

Kanu also warned that any individual, group or organisation that associates with or recognises the expelled members as IPOB representatives would be regarded as acting against the interests of the movement and the Biafra cause.

He directed members and supporters worldwide to recognise and support the fourth administration of the Directorate of State headed by Chris Nwaogu, insisting that IPOB “remains resolute, focused and united” under its current leadership.

The latest expulsions deepen an ongoing leadership dispute within IPOB, which intensified after the Edoziem-led Directorate of State announced Kanu’s purported suspension earlier in the week. The faction had argued that no individual possesses the authority to dissolve the Directorate of State, while the Kanu-backed leadership maintains that the body had already been dissolved before it issued the suspension notice. (The Eagle Online)

Kanu Expels Ex-IPOB Leader, Nine Others Over Alleged Misconduct

Gunmen Kill Ex-OGTV Broadcaster, Security Guard in Abeokuta

Unknown gunmen, in the early hours of Sunday morning, invaded the residence of a former staff member of the Ogun State Television (OGTV), Ms Kitan Oyesiku, and murdered her in cold blood, alongside her security man. The ugly incident happened at Agodo community, in the Kobape area of Abeokuta, Ogun State. The motive behind the dastardly act was still unknown, as the development had left family members, neighbours and associates in shock and disbelief. Information had it that the lifeless bodies of the two victims were discovered after the hoodlums had carried out the nefarious act.

The late Oyesiku, popularly known as Aunty Kitan, was well known in media circles, having served with Ogun State Television (OGTV) before her retirement. She was widely regarded as a respected media professional who contributed significantly to the growth of broadcasting in Ogun State. News of her death has sparked grief among colleagues, friends, and residents of the state, with many describing her as a dedicated broadcaster who left a lasting impact on the industry.

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When contacted, the Police Public Relations Officer, DSP Oluseyi Babaseyi, confirmed the incident. He stated that official reaction from the State Police Command would be made available to newsmen as an investigation into the killings had commenced. Security agencies are expected to work towards identifying and apprehending those responsible for the attack. As of the time of filing this report, no official statement had been issued by the police, though efforts to bring the perpetrators to justice are reportedly underway.

Gunmen Kill Ex-OGTV Broadcaster, Security Guard in Abeokuta