In a statement confirming his acceptance, the African industrialist reaffirmed his commitment to fostering sustainable economic growth through private sector-led investment, noting the transformative potential of such initiatives in developing markets.

“I am both honoured and excited to accept my appointment to the World Bank’s Private Sector Investment Lab, dedicated to advancing investment and employment in emerging economies,” Dangote said.

“This opportunity aligns with my long-standing commitment to sustainable development and unlocking the potential of developing economies. Drawing inspiration from the remarkable successes of the Asian Tigers, which have demonstrated the power of strategic investment and focused economic policy, I am eager to collaborate with fellow leaders to replicate such outcomes across other regions.”

The Dangote Group, founded by Aliko Dangote, is the largest conglomerate in West Africa and one of the largest on the African continent.

With interests spanning cement, fertiliser, salt, sugar, and oil, the Group employs over 30,000 people and is the largest taxpayer in Nigeria—contributing more in taxes than all of Nigeria’s banks combined.

It is also the country’s largest employer after the government.

The $20 billion Dangote Petroleum Refinery & Petrochemicals, the Group’s flagship project, stands as the largest single private investment in Africa.

In addition to his business interests, Dangote leads the Aliko Dangote Foundation, ADF, the largest private foundation in sub-Saharan Africa, with the largest endowment by a single African donor.

The Foundation primarily focuses on child nutrition, while also supporting interventions in health, education, empowerment, and disaster relief.

The World Bank announced Dangote’s appointment on Wednesday as part of a broader expansion of its Private Sector Investment Lab, which now enters a new phase aimed at scaling up solutions to attract private capital and create jobs in the developing world.

READ ALSO: LABASCO: Medical outreach for old students holds on Saturday

Joining Dangote in the elite group are Bill Anderson, CEO of Bayer AG; Sunil Bharti Mittal, Chair of Bharti Enterprises; and Mark Hoplamazian, President and CEO of Hyatt Hotels Corporation.

The World Bank said the expanded membership brought together business leaders with proven track records in generating employment in developing economies —supporting the Bank’s sharpened focus on job creation as a central pillar of global development.

“With the expanded membership, we are mainstreaming this work across our operations and tying it directly to the jobs agenda that is driving our strategy,” said World Bank Group President Ajay Banga.

“This isn’t about altruism—it’s about helping the private sector see a path to investments that will deliver returns, and lift people and economies alike. It’s central to our mandate.”

The global bank said that over the last 18 months, the Lab brought together leaders from global financial institutions to identify the most pressing barriers to private sector investment in developing countries and to test actionable solutions.

The statement said that the work had now been consolidated into five priority focus areas that were being integrated across the bank operations, including regulatory and policy certainty.

The Lab’s founding members included senior executives from AXA, BlackRock, HSBC, Macquarie, Mitsubishi UFJ Financial Group, Ninety One, Ping An Group, Royal Philips, Standard Bank, Standard Chartered, Sustainable Energy for All, Tata Sons, Temasek, and Three Cairns Group.

Lab is chaired by Shriti Vadera, Chair of Prudential plc.

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Governor Sanwo-Olu said his government was intentional about making Lagos State, particularly Badagry, a preferred tourism destination.

He spoke on Monday while receiving the Chairman and Chief Executive Officer of Nigerians in Diaspora Commission (NiDCOM),  Hon. Abike Dabiri-Erewa, who led a delegation of Nigerians in the Diaspora for a courtesy visit at Lagos House, Ikeja.

The delegation included Dr. Julius Marcus Garvey Jnr., son of foremost civil rights leader, Marcus Garvey, and the Jogbe of Badagry kingdom, David Anderson, among others.

The delegation visited Governor Sanwo-Olu to appreciate him and the Lagos State Government for a successful celebration of this year’s edition of the Diaspora Festival, dubbed, ‘Door of Return’ in Badagry.

The Door of Return, initiated to help some Black Diasporas trace their roots to Nigeria and Africa at large, was celebrated last Saturday in the ancient city of Badagry, Lagos.

READ ALSO: Governors, Anyaoku, Nwachukwu, others to watch ‘Fajuyi’ in Lagos

Speaking during the courtesy visit, Governor Sanwo-Olu said his administration would partner with relevant stakeholders, especially the people in the Diaspora to grow and strengthen the Door of Return festival and promote the cultural heritage of Badagry, Lagos and Nigeria at large.

Governor Sanwo-Olu also commended the Chairman of the Nigerians in Diaspora Commission, Abike Dabiri-Erewa, for the initiative of the Door of Return and her efforts in championing the interest of Nigerians in the Diaspora.

Speaking earlier, Dabiri-Erewa commended Governor Sanwo-Olu for his support towards the celebration of Door of Return and the actualisation of the Diaspora Festival that took place in Badagry last Saturday.

The NiDCOM boss urged the Lagos State government to support the project by building a Permanent Door of Return in Badagry to attract more people in the Diaspora willing to trace their roots to Nigeria.

Also speaking, Julius Garvey and David Anderson, hailed Governor Sanwo-Olu and the Lagos State government for their tremendous support for the festival and for showing keen interest in tourism.

They also expressed their joy for the success of the Door of Return Programme, which gave opportunities to many Nigerians in the Diaspora to visit Nigeria for the first time.

Garvey and Anderson, who promised to partner with Lagos State on tourism, expressed their continued support to preserve African culture and heritage.

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