Dangote is widely regarded as one of Africa’s leading modern industrialists. He is dedicated to shape Africa’s 21st century Industrial Revolution. Dangote has been compared to Rockefeller and Carnegie of 19th century America. More than just a business industrialist, his empire is mainly based in Nigeria but extends across Africa.

Dangote’s businesses include cement manufacturing, sugar refining, salt and seasonings, fertilizer factories, infrastructure development, tomato and rice farming, automotive, oil refining, energy, and petrochemicals. For many decades, Africa has suffered from structural under industrialization. Dangote’s flagship oil refinery in Lagos is one of the largest refineries in the world. It was designed to process around 650,000 barrels of crude oil per day. However, the facility was processing approximately 610,000 barrels per day as of mid-2025.

Although Nigeria is considered Africa’s largest oil producer, it remains a developing country, a status Dangote hopes to change that during his lifetime. Developing countries are primarily located in Africa, Asia, and Latin America with wide variations in income per capita. Natural resource distribution in these countries is very uneven. Some possess valuable deposits of tin, copper, nitrates, and petroleum, which have helped stimulate rapid growth, but exports are often vulnerable to significant price fluctuations, contributing  to economic instability. 

Discussion Questions:

  1. How do high population growth rates in developing countries affect economic development and resource allocation? Explain.
  2. How is Dangote driving Africa's 21st-century economic transformation and industrial growth? Explain.