Dangote Commits $700m to boost local sugar production
Onome Amuge
Aliko Dangote, president of Dangote Group, has once again affirmed the conglomerate’s determination to eliminate raw sugar imports in Nigeria through an investment of over $700 million in the country’s sugar production industry.
Dangote reiterated the company’s commitment to the local sugar industry during the ‘Dangote Special Day’ at the just concluded 14th Gateway International Trade Fair in Abeokuta, Ogun State.
The business mogul, who was represented by Tunde Mabogunje, the regional director, Lagos/Ogun Dangote Cement, stated: “We are actively executing the Sugar Backward Integration strategy and have committed over $700 million to land acquisition, machinery, infrastructure, manpower, community relations, and corporate social responsibility initiatives to ensure Nigeria ends raw sugar importation.”
Dangote disclosed that the group has embarked on the exportation of fertilisers to countries including France, the United States, Mexico, Uruguay, Argentina, Benin Republic, Zambia, and Cameroon, amongst others.
He further announced that Dangote Refinery has initiated the export of refined petroleum products, adding that the conglomerate’s investments in cement production in Nigeria and over 10 African countries have enabled export financing.
“As a conglomerate driving Nigeria’s economic diversification, we will continue to explore opportunities in the manufacturing sector to replace imports, create jobs, and support economic growth,” he stated.
Dangote expressed his positive outlook, saying the Gateway International Trade Fair would serve as an effective platform to heighten awareness about the company’s diverse range of products, expand its market presence, and ultimately create employment opportunities while contributing to economic growth.
“We are confident that this longstanding partnership with OGUNCCIMA will not only benefit our businesses but also contribute to the broader economic development of Nigeria and Africa,” he added.
In response, Oludaisi Elemide, Ogun State House of Assembly speaker commended Dangote Group’s contributions to Nigeria’s economy, citing the conglomerate’s diverse economic interventions.
The Speaker, however, seized the opportunity to implore the company to prioritise environmental sustainability in its operations, urging Dangote to continue exploring and implementing environmentally-friendly measures in its various activities.