Aliko Dangote argued that protectionist policies can serve Africa's own interests, pointing to wealthier countries' willingness to shield their industries as a model the continent should not be afraid to follow, according to a report by CNBC Africa. Speaking at the Financial Times Africa Summit, the Nigerian industrialist, whose Lagos refinery began commercial operations in 2024 after he built much of his cement business behind Nigerian protectionist measures, said if major economies are moving to protect their own industries, African governments have just as much reason to protect theirs rather than leave local manufacturers exposed to cheaper imports.
Dangote framed the stakes in blunt terms, saying the continent is "exporting our jobs out of the continent and importing poverty into the continent" by failing to back domestic industry with the kind of policy support other regions already extend to their own producers. He also pointed to the recent diesel supply crunch as evidence that those counting on a fast global energy transition had misjudged the pace of change, an argument he has paired with calls for African governments to pair industrial protection with heavier investment in infrastructure as a precondition for building out local manufacturing.