Without Local Investors, Foreigners Won’t Invest in Nigeria, Says Dangote

Africa’s richest man and President of the Dangote Group, Aliko Dangote, has emphasized the crucial role of local investors in attracting foreign direct investment (FDI) to Nigeria.

Speaking at a recent economic summit, Dangote stated unequivocally that without strong participation and confidence from local investors, foreign investors would remain hesitant to bring capital into the country.

“Nobody will come from outside to invest in your country if your own people are not investing.

“Local investment is the strongest signal of economic stability and opportunity,” Dangote remarked.

Dangote cited the importance of creating an enabling environment for Nigerian businesses to thrive, stressing that homegrown investors provide the initial validation that the economy is viable.

He urged the government to implement consistent policies, improve infrastructure, and tackle insecurity to boost investor confidence.

“Local capital must lead the way. When foreign investors see that our business leaders are taking bold steps, they will follow,” he added.

His remarks come amid efforts by the Nigerian government to attract more FDI in key sectors such as energy, agriculture, and manufacturing.

However, the country continues to face challenges like fluctuating exchange rates, regulatory uncertainties, and high operating costs that dampen both local and foreign investment.

Dangote’s statement serves as a call to action for Nigerian entrepreneurs, policymakers, and stakeholders to build a solid foundation that can inspire international interest and long-term economic growth.