President of Dangote Industries Limited, Aliko Dangote, has called on Nigeria’s wealthy elite to invest at home, warning that true national development cannot happen without bold, local economic commitments.

In a recent interview with select journalists, Dangote criticised the habitual export of African wealth, saying the practice deprives the continent of growth opportunities.

“There’s hardly any country without corruption,” he said. “The difference is that, in those places, even stolen funds are reinvested in their economies. Here, we send the money abroad it does nothing for our people.”

Dangote urged Nigeria’s affluent class to “look inward”, adding:

“I appeal to all wealthy Nigerians to invest here, for the sake of our unborn children.”

Reflecting on the $20 billion Dangote Refinery, Africa’s largest, he said the project was born out of a desire to ensure energy security and economic self-sufficiency, not just for Nigeria, but for the continent.

“Almost every African country imports refined petroleum, despite abundant crude reserves. We’ve become dumping grounds for substandard fuel,” he noted.

Africa holds an estimated 125 billion barrels of proven oil reserves, but Dangote lamented that few countries operate functional refineries, including major producers.

He revealed that many doubted his vision for the refinery and even urged him to quit.

“If I had known the scale of the challenges, I might not have started. But we believed nothing is impossible,” he said.

Despite setbacks, Dangote said his team chose to push forward, proving that transformative, home-grown industrial projects are achievable and vital for Africa’s future.