In Good Company with Nicolai Tangen Aliko Dangote: Building Africa's industrial future from the ground up
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May 13, 2026 
Aliko Dangote, founder and CEO of the Dangote Group and builder of Africa’s largest industrial conglomerate. He recounts rising from trading to industrial scale. Topics include backward integration to replace imports. The making of the world’s largest single-train refinery and its infrastructure. Ambitious $45bn capex plans, Africa’s demographic opportunity, and balancing growth with climate and inequality.
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Backward Integration To Replace Imports
- Dangote used backward integration: produce what countries import, starting with cement to reduce costs and waiting times.
- He saw cement selling at $250/ton with long delays and built capacity across 14 countries to fix that.
Building The World's Largest Single Train Refinery
- Dangote built the world's largest single-train refinery after launching the project in 2013 despite land access delays and opposition from vested interests.
- Construction required building a port, roads and handling modules up to 3,000 tons with 67,000 workers onsite.
Leverage Local And International Lenders During Crises
- Seek diverse financing and local bank support when currency devaluation threatens internal funding.
- Dangote leveraged African Finance Corporation, multiple Nigerian banks and Standard Bank/Standard Chartered to complete massive projects.