Aliko Dangote, the President of Dangote Group, on Wednesday, hinted that a sum of $700 million has been committed to land acquisition, machinery, infrastructure, manpower, and other impactful activities to boost local sugar production in the country.
He stated this during the “Dangote Special Day” at the ongoing 14th Gateway International Trade Fair, held in Abeokuta.
Dangote, represented by the Regional Director for Lagos and Ogun, Dangote Cement, Tunde Mabogunje, said the initiative would end the importation of raw sugar by “actively intensifying its execution of the Sugar Backward Integration.”
He explained that Dangote Sugar, as a leading brand, has made a remarkable impact on the Nigerian sugar sector.
“The company is committed to ensuring that Nigeria ends the importation of raw sugar by actively intensifying its execution of the Sugar Backward Integration. In this regard, it has committed over $700 million to land acquisition, machinery, infrastructure, manpower, community relations, corporate social responsibility (CSR), and other impactful activities.
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“Similarly, to support the government in achieving food security, we are also investing in the agricultural sector. These agricultural products will soon be available in the market,” he added.
He further stated that Dangote Group plays a critical role in export financing, particularly through its cement business.
He said, “With operations in over 10 African countries, the group has facilitated the export of cement from Nigeria to other African markets.
“Dangote Fertiliser has exported several shiploads of fertiliser to France, the USA, Mexico, Uruguay, and Argentina, as well as to African countries including the Republic of Benin, Zambia, Cameroon, South Africa, Côte d’Ivoire, and Mozambique. Dangote Petroleum Refinery has also exported refined petroleum to several countries. Through this, Dangote Group strengthens Nigeria’s position in regional trade.”
Meanwhile, the Speaker of the Ogun State House of Assembly, Hon. Oludaisi Elemide, has described Aliko Dangote’s contributions to Nigeria’s economy as second to none and urged him not to be deterred by the challenges facing businesses in the country.
He stated that the nation would be in a much better economic position if more entrepreneurs like Dangote existed.
“There is no doubt that Alhaji Aliko Dangote has contributed immensely to the economic well-being of this country with his investments across various sectors. No household in this country is without at least one Dangote product. I buy Dangote salt, and it is what I like and use in my house and on my farm,” Hon. Elemide stated.
He urged Dangote to continue investing in critical sectors of the economy, just as he has done in the oil and gas sector with the world-class petroleum refinery. “I urge others to emulate him and imbibe his patriotism,” the Speaker said.
