Dangote Group President Aliko Dangote has confirmed the conglomerate’s commitment to ending raw sugar imports in Nigeria with an investment in sugar production of more than $700 million.
Speaking at the Dangote Special Day at the current 14th Gateway International Trade Fair in Abeokuta, Ogun Province, Dangote said the group will speed up its sugar-back integration plan and increase local production.
Dangote also announced that the group has begun exporting fertilizer to countries such as France, the United States, Mexico, Uruguay and Argentina.
He added that Dangote Raffinerie also began exporting sophisticated petroleum products, with cement production investments in Nigeria and more than 10 African countries making export financing easier.
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“As a conglomerate that promotes economic diversification in Nigeria, we will continue to look at processing business opportunities, replace imports, create jobs and support economic growth,” he said.
Dangote was optimistic that the trading fair would improve the company’s product awareness, expand the market scope, and contribute to the creation of employment and economic development.
He added: We believe that this long and outstanding partnership with Ogunccima will not only benefit us, but will also contribute to the broader economic development of Nigeria and Africa.
Oludaisi Elemide, a spokesman for the Ogun State House of Assembly, praised the Dangote Group’s various economic interventions and asked the company to improve its environmental care efforts.
