President of Dangote Industries Limited, Aliko Dangote, has restated his Group’s commitment to Nigeria’s economic development through continuous innovation, value creation and investments.
This was as he disclosed that the Group would target raising cement exports to other countries to $600million annually, with its management intensifying efforts at actualizing the planned increase.
Declaring that his massive investments in Nigeria’s economy was borne out of a firm belief in the nation’s vast economic potential, Dangote said “by next year we will be the largest exporter of cement in sub-Saharan Africa with about $600 million earnings from export to other African countries with limited access to limestone. In addition, we also have new terminals coming up at Onne and in Lagos and we are hopeful the congestion at Apapa will soon be behind us helping us meet our export targets.”
Speaking at the 2018 Dangote Cement Distributors’ Award Night held in Lagos, Africa’s richest man said his Group is committed to ensuring Nigeria becomes self-sufficient in all the sectors where it operates, including cement, agriculture, mining and petroleum.
“Let me reiterate that our continuous efforts to innovate, create value and invest in Nigeria are borne out of our firm belief in the vast economic potential of Nigeria. This has also informed our desire to invest massively in agriculture in some states across the country. Our target is to ensure that Nigeria becomes self-sufficient in all the sectors where we play; cement, agriculture, mining and petroleum. We are leaders in all the sectors where we play, and this demands continuous improvement and partnership with you, our customers.”
“We are front-runners in keying into the diversification of the economy by the government. We have continued to roll out massive agricultural projects across the country. We have started in rice, while plans are underway for dairy farming. Our push for backward integration in providing our own raw materials on a massive scale has led to the planned investment of $4.6 billion over the next three years in sugar, rice and dairy production alone. That will eliminate the country’s reliance on imported food, and the foreign exchange outflow that comes with it,” he added.