Vice President Kashim Shettima has claimed that Africa’s richest man, Aliko Dangote, might have been worth $120 billion today if he had channelled his refinery investment into global tech companies instead.
Speaking at the Taraba International Investment Summit in Jalingo, Shettima reflected on Dangote’s $19 billion outlay on the Dangote Refinery, a project that began as far back as 2007. “If he had invested the $19bn that it took him to set up Dangote Refinery in Microsoft, Amazon, Google, he’s going to be worth $120bn now,” he said, noting that Dangote opted to “invest in his own country” instead.
Shettima, who stood in for President Bola Tinubu at the summit, made the comment while highlighting Taraba State’s potential as Nigeria’s “agricultural powerhouse.”
Calls for Local Investment First
Aliko Dangote, who also spoke at the event, encouraged both public and private sector players to work collectively to unlock Taraba’s economic strength. He stressed the importance of domestic investment as a precursor to foreign capital inflow.
“Foreign direct investment is good, but foreign investors will only come when they see that local investors are thriving. The government must encourage domestic investments first,” Dangote advised.
This sentiment mirrors long-standing calls for policies that prioritise homegrown enterprise before looking abroad for funding.
Atiku’s Advice for Taraba’s Future
Former Vice President Atiku Abubakar also made an appearance at the summit. Addressing Governor Agbu Kefas, he encouraged a strong focus on infrastructure and public-private partnerships.
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“He must leverage the private sector, bridge resource gaps, and prioritise investment in infrastructure, education, and health to improve human capital,” Atiku said. He also drew parallels between the governor’s current challenges and those Nigeria faced in its economic rebuilding years.
The summit in Jalingo aimed to spark investment interest in Taraba and position it as a key economic player in Nigeria.
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