President of the Dangote Group, Aliko Dangote, has called on federal and state governments to prioritise support for local investors as a key strategy for driving economic development and attracting foreign investment.
Dangote made the call during the Taraba International Investment Summit held in Jalingo, which drew participants from across Nigeria and beyond.
The business magnate, who is Africa’s richest man, emphasised that thriving domestic investment is a prerequisite for foreign investor confidence.
“I want to give a word of advice, Your Excellency, the only way for you to attract foreign investments or investors is by having local investors. Domestic investors are the ones who actually attract foreign investors,” he said.
Dangote explained that foreign investors are drawn to environments where local businesses are already succeeding, noting that investment prospects and economic activity naturally attract external interest.
“If you don’t invite local investors to come and invest, no foreigner will come and invest. Foreigners are attracted only when they see prospects for investment. Once they see that, yes, things are flowing, you don’t have to invite them, they will come,” he added.
