Tinubu hails Dangote’s appointment into World Bank investment lab

President Bola Tinubu has described Aliko Dangote’s appointment to the World Bank’s Private Sector Investment Lab, as “apt”, given his contributions to the global economy.

The World Bank had on Wednesday, named Dangote, who is President of the Dangote Group to serve at the World Bank private sector lab, a body tasked with promoting investment and job creation in emerging economies.

Bayo Onanuga, the presidential spokesman, said Tinubu described the appointment as apt, given Dangote’s rich private sector experience, strategic investments, and many employment opportunities created through his Dangote Group.

He noted that the Dangote Group attained its current position as one of Africa’s leading conglomerates through innovation and continuous investment.

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.

President Tinubu therefore, urged Dangote to bring to bear on the World Bank appointment his transformative ideas and initiatives to impact the emerging markets across the world fully.

The World Bank announced Dangote’s appointment 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 World Bank Private Sector Investment Lab also has Bill Anderson, CEO of Bayer AG, Sunil Bharti Mittal, the Chair of Bharti Enterprises, as well as Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation, Mark, alongside Dangote.

The World Bank had declared that 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.