Aliko Dangote - Africa's Richest Man Turning Trump's Trade Wars into Opportunities
As Washington's tariffs reshape global trade, Africa's richest man is positioning his refinery — and the continent — to capture the opportunity.
Turning Trump’s Trade Wars Into Opportunities For The Continent
The applause inside the Eko Convention Centre, located in Nigeria’s commercial capital, Lagos, had barely worn off when Dangote shocked his audience with an ambitious headline figure: “We will cross thirty billion dollars in revenue by 2026”. The billionaire’s forecast, recently delivered to a room of venture capitalists, sounded almost reckless against the backdrop of Washington’s tariff offensive. Yet Dangote insisted the numbers add up and, unusually, he has the politics of trade on his side. Since President Donald Trump revived Section 232 duties in April, anything from foreign steel to Algerian fertilizer has faced a price wall at U.S. ports. Oil and gas were spared, leaving Dangote’s brand-new 650,000-barrel-a-day Lagos refinery free to court American buyers suddenly hunting for non-tariffed crude blends. At the same time, the trade tension between the U.S. and other economic giants positions other African countries as alternative manufacturing and sourcing hubs for multinational companies seeking to tap into the continent’s abundant mineral resources. As a continent rich in agriculture and high-value mineral deposits including copper, cobalt, lithium, and uranium, Africa is solidly positioned to provide a safe haven for investors who have lost access to the U.S. due to its stifling economic policies, and to increase its export of soybeans, beef, wine, and other agricultural produce.
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This is an excerpt. Read the full story in the print edition of the AfriHeritage Magazine.
A proverb · Akan / Twi
“Sankofa.”
“Go back and fetch it.”
It is not wrong to return for what has been forgotten. The past is a resource for the future.
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