Dangote hails Tinubu as UK trip unlocks £746m deals for Nigeria

From Juliana Taiwo-Obalonye, Abuja

Chairman of Dangote Group, Aliko Dangote, has praised President Bola Tinubu’s recent UK visit, describing it as a gateway to lots of opportunities for Nigerian and African investors.

He said the £746 million agreement secured to upgrade Nigeria’s ports and infrastructure was phenomenal.

Speaking to journalists after a courtesy visit to President Tinubu in Lagos on Tuesday, Dangote noted the economic ripple effects of Tinubu’s high-profile trip.

“I think it has opened ways. Today, diplomacy without the economic part of it is not complete. So, I believe his visit will open quite a lot of doors and you can see the agreement that was signed for actually improving our infrastructure, especially in the ports and other areas, which is almost £746 million, that’s quite a lot.”

Dangote framed the deal as a powerful vote of confidence despite Britain’s own economic pressures. “It’s not that easy dealing with the British, getting this kind of money out of them. They too are struggling on their own. But I think this to show confidence, it’s not about the money, it’s about the confidence in Nigeria. “So the moment they do that, there will be other countries that will follow suit. So, it’s not the £746 million, we too can do that to any other country and invest. “But I think it is something to show an appreciation of Mr. President’s good work, the infrastructure he has been building, this will help and complement”.

For Nigerian investors, Dangote urged seizing the moment, pointing to untapped opportunities at the UK’s credit agency.

Dangote’s endorsement comes as Nigeria navigates global headwinds, including oil sector volatility tied to international tensions.

He acknowledged the risks but expressed hope for de-escalation. “It means quite a lot. We don’t have much to do with it, but you know the world is a global village, and it definitely will affect us, unfortunately. But we pray this situation will be sorted out, it’s not going to escalate,” he noted, warning of knock-on effects.

“If it doesn’t de-escalate, we’ll end up paying big price. Africa is very busy paying debts and putting this again on top of us is going to add a lot of hardship on the government, on the people, on everybody.”