President Bola Tinubu has reacted to Africa’s richest man, Alhaji Aliko Dangote’s appointment to the World Bank’s Private Sector Investment Lab.

The World Bank’s Private Sector Investment Lab is a body tasked with promoting investment and job creation in emerging economies.

Tinubu, while congratulating the Chairman of Dangote Group, noted that the appointment was apt, given the billionaire’s extensive private sector experience, strategic investments, and the many employment opportunities created through his Dangote Group.

The Dangote Group became one of Africa’s leading conglomerates through innovation and continuous investment.

Dangote Group’s business interests span cement, fertiliser, salt, sugar, oil, and gas. However, the $20 billion Dangote Petroleum Refinery and Petrochemicals remains Africa’s most ambitious project and the most significant single private investment.

Tinubu urged Dangote to bring his transformative ideas and initiatives to bear in his World Bank appointment, fully impacting emerging markets across the world.

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

The CEO of Bayer AG, Bill Anderson; the Chair of Bharti Enterprises, Sunil Bharti Mittal; and the President and CEO of Hyatt Hotels Corporation, Mark Hoplamazian, are also part of the Private Sector Investment Lab alongside Dangote.

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