President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has urged Nigerian entrepreneurs and creative industry practitioners to build globally competitive businesses, create lasting legacies and take responsibility for Africa’s economic prosperity.
Dangote spoke while hosting prominent Nigerian entertainers and other creative industry figures at the Dangote Petroleum Refinery and Petrochemicals complex in Lekki, Lagos, where he also disclosed plans to review the Group’s $100 billion Vision 2030 target upwards.
The visit, which featured a tour of the industrial complex and an interactive session, brought together Nollywood actors, content creators, comedians and other entertainment personalities to discuss entrepreneurship, innovation, ambition and legacy.
The development was disclosed in a statement yesterday.
Addressing the delegation, Dangote urged Nigerians to combine creativity and entrepreneurial ambition with discipline, perseverance and the determination to undertake projects capable of transforming society.
He said success should not be measured solely by personal wealth but also by the businesses established, employment opportunities created and contributions made to national development.
“It is not just about money; it is about legacy. We have often been taken for granted, and in many ways, we have contributed to that by waiting for foreigners to come and make our continent prosperous. That will never happen. We must take responsibility for building Africa’s prosperity ourselves,” he said.
On the Group’s future expansion plans, Dangote disclosed that it was reconsidering its $100 billion Vision 2030 target in view of its growing industrial investments and broader ambitions.
“We realised that our Vision 2030 target was too modest. We are working towards unveiling a new vision in January, with a revised target that reflects our ambition to achieve far more than US$100 billion,” he said.
He explained that the Group’s expansion drive was aimed at establishing enduring institutions, strengthening Africa’s productive capacity and demonstrating that businesses founded on the continent could compete successfully in international markets.
Drawing lessons from Singapore’s economic development, Dangote said countries could overcome challenging beginnings through deliberate investments, enterprise and sustained efforts to develop local capabilities.
He challenged Nigerian entrepreneurs to discard limiting assumptions and pursue ambitious ideas, noting that major achievements often required the courage to attempt what others considered impossible.
Reflecting on his business journey and the development of the refinery, Dangote identified perseverance, disciplined execution and sound judgment as critical factors for entrepreneurial success.
However, he cautioned business owners against allowing ambition to cloud their assessment of commercial realities, stressing the importance of recognising when an investment was no longer viable.
“Before embarking on any venture, you must carefully consider all the issues involved. We have made mistakes too, and I share these experiences so others can learn from them,” he said.
“One important lesson is never to keep putting good money into a bad investment. Some situations are simply too difficult to turn around, no matter how much you invest.”
Turning to the creative industry, Dangote praised Nigerian entertainers for building an international presence despite operating in a challenging business environment and receiving limited government support.
He cited Nollywood’s growing global influence as evidence of Nigeria’s creative potential, urging industry practitioners to consolidate their achievements through stronger business structures, innovation and collaboration.
According to him, the next phase of growth in the creative industry should focus not only on international recognition but also on building sustainable businesses, generating employment and strengthening Nigeria’s position in the global creative economy.
Veteran Nollywood actor Richard Mofe-Damijo, who moderated the interactive session, commended Dangote’s industrial investments, describing them as a lasting contribution to Nigeria’s development.
“Your legacy has already been built, and its continuation is assured. You deserve all the praise and recognition you have received for what you have accomplished,” Mofe-Damijo said.
Another Nollywood actor, Abdullateef Adedimeji, described the visit as an inspiring experience that had encouraged him to expand his ambitions and pursue greater achievements in the creative sector.
“Coming here today is a source of motivation for us. As someone in the film industry, this experience inspires me to push beyond my limits, broaden my imagination and strive for greater achievements, including making a more meaningful impact in my community,” he said.
Adedimeji also called for stronger collaboration among Nollywood practitioners, saying the partnerships and coordination behind Dangote’s industrial operations offered valuable lessons for the entertainment industry.
“That is what we need in Nollywood. The more we collaborate, the stronger and more successful we become,” he added.
