Prioritise Local Investors as Key to Unlocking Nigeria’s Economic Potential, Dangote Urges FG
Africa’s richest man and industrialist, Alhaji Aliko Dangote, has called on governments at all levels in Nigeria to prioritise and empower domestic investors, insisting that the presence and performance of local entrepreneurs are crucial to attracting meaningful foreign direct investment (FDI) into the country.
Speaking at the Taraba International Investment Summit (TARAVEST) 2025, held in Jalingo, Dangote offered a strategic insight into how emerging economies like Nigeria can sustainably attract global capital. According to him, “Foreign investors will not come if they don’t see local investors thriving. Local investors are the first to show confidence in the economy.”
The theme of the summit, Unlocking Taraba’s Economic Potentials, underscores the state’s ambition to position itself as an investment hub in agribusiness, renewable energy, solid minerals, and tourism.
The Dangote Perspective: Local Confidence as a Magnet for Global Capital
Dangote, whose business empire spans cement, sugar, salt, fertiliser, oil and gas, and now petrochemicals, stressed that the success of homegrown investors sends a powerful message to the global investment community. “When locals invest and succeed, it signals stability, confidence, and profitability — key indicators for foreign investors making risk assessments,” he explained.
The Dangote Group, Nigeria’s largest conglomerate, continues to play a pivotal role in domestic industrialisation and job creation. Highlighting the socio-economic impact of Dangote Cement PLC alone, the business mogul revealed that for every N1 earned, approximately 52 Kobo is paid to the government in taxes. This reinforces the dual value of such investments: economic growth and revenue generation for public development.
Taraba’s Untapped Promise
Turning his focus to Taraba State, Dangote described it as “the best place in Nigeria for agriculture,” citing its fertile land, favourable climate, and investment-friendly policies. He praised Governor Agbu Kefas for creating a business-enabling environment and rallying both local and foreign investors to explore the state’s vast potential.
Dangote pledged to explore investment opportunities in Taraba, a move that could significantly boost the state’s economy and create employment for its youth population. “Taraba is not just rich in resources; it’s also rich in landscape and promise,” he said, hinting at possible agro-industrial ventures by his group in the region.
Policy Implications: More Than a Summit Speech
Dangote’s remarks are more than rhetorical; they offer a roadmap for policymakers. Encouraging local investment requires intentional actions: easing regulatory bottlenecks, improving access to credit, ensuring security, and building critical infrastructure. If followed, these measures can build a resilient domestic investment base that naturally draws in foreign capital.
His statement also subtly calls out the irony of governments chasing after foreign investors with incentives, while neglecting the challenges facing Nigerian entrepreneurs. Without deliberate and sustained support for local businesses, foreign investors may continue to see Nigeria as a high-risk destination.
Governors Weigh In: Agriculture as the Future
Also speaking at the summit, Governor Abdulrahman Abdulrazaq of Kwara State, represented by Governor Umar Bago of Niger State, echoed Dangote’s sentiments. He affirmed that Taraba is “one of the most viable states for agriculture in Nigeria,” and cautioned against fears of land dispossession, stressing that responsible agricultural investments are meant to create wealth for communities, not take from them.
This aligns with the broader national narrative of leveraging agriculture for inclusive growth, food security, and export diversification.
Final Word: A Call to Action
The message from TARAVEST 2025 is loud and clear — Nigeria must look inward to grow outward. By cultivating an ecosystem where local investors thrive, the country can organically draw global interest and capital. And as Dangote’s success has shown, when Nigerian entrepreneurs win, the entire nation profits.
BRANDECONOMY will continue to track how Taraba, and indeed Nigeria, respond to this wake-up call from one of the continent’s most successful business icons.
For more insights into Nigeria’s investment climate, follow BRANDECONOMY — where business meets leadership.
