By Kolawole Ojebisi
President Bola Tinubu, on Wednesday, said the World Bank has put a round peg in a round hole by selecting the Chairman of Dangote Group, Alhaji Aliko Dangote, to the Bank’s Private Sector Investment Lab, describing the appointment as “apt”.
Tinubu said this in a congratulatory message to the business mogul over his recent appointment by the Bretton Woods institution to its high-level global advisory body designed to accelerate private investment and job creation in emerging economies.
This is contained in a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Wednesday.
The statement partly read, “President Bola Tinubu congratulates Alhaji Aliko Dangote, the President of Dangote Group, on his appointment to the World Bank’s Private Sector Investment Lab, a body tasked with promoting investment and job creation in emerging economies.
“The President describes the appointment as apt, given Dangote’s rich private sector experience, strategic investments, and many employment opportunities created through his Dangote Group. The Dangote Group became one of Africa’s leading conglomerates through innovation and continuous investment.”
Also, Tinubu emphasised the scale and ambition of Dangote’s investments, spotlighting the $20 billion refinery project in Lagos, which has been dubbed Africa’s largest private-sector initiative.
He referenced it as a shining example of the industrialist’s capacity to undertake transformative projects with continent-wide implications.
He added, “Dangote Group’s business interests span cement, fertiliser, salt, sugar, oil, and gas.
“However, the $20 billion Dangote Petroleum Refinery and Petrochemicals remains Africa’s most daring project and most significant single private investment.”
Tinubu noted that Dangote’s appointment is part of an effort to scale private-sector-led solutions to global development challenges, such as unemployment and limited infrastructure.
He situated Dangote among other globally respected business leaders from diverse industries, reinforcing the prestige of the appointment.
“The World Bank announced Dangote’s appointment on Wednesday as part of a broader expansion of its Private Sector Investment Lab.
“The lab now enters a new phase aimed at scaling up solutions to attract private capital and create jobs in the developing world.
“The CEO of Bayer AG, Bill Anderson, the Chair of Bharti Enterprises, Sunil Bharti Mittal, and the President and CEO of Hyatt Hotels Corporation, Mark Hoplamazian, are on the Private Sector Investment Lab with Dangote. The World Bank said the expanded membership brings together business leaders with proven track records in generating employment in developing economies, supporting the Bank’s focus on job creation as a central pillar of global development”, he concluded.
