With an investment in sugar production topping $700 million, Dangote Group President Aliko Dangote has reiterated the company’s commitment to halting the importation of raw sugar into Nigeria.
In order to increase local production, Dangote said the company is speeding up its Sugar Backward Integration Plan on Wednesday during the “Dangote Special Day” at the 14th Gateway International Trade Fair, which is currently taking place in Abeokuta, Ogun State.
On behalf of Lagos/Ogun Dangote Cement’s Regional Director, Tunde Mabogunje, he 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 also revealed that the business has started exporting fertilizer to a number of African countries, including the Benin Republic, Zambia, and Cameroon, as well as to France, the United States, Mexico, Uruguay, and Argentina.
He continued by saying that the Dangote Refinery has started exporting refined petroleum products and that investment in cement manufacturing in Nigeria and more than ten African nations has made export financing easier.
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He declared, “As a conglomerate spearheading Nigeria’s economic diversification, we will keep looking into manufacturing opportunities to replace imports, create jobs, and support economic growth.”
In addition to increasing market reach and raising consumer knowledge of the company’s products, Dangote expressed hope that the trade show will boost economic growth and employment creation.
“This long-standing partnership with OGUNCCIMA will not only benefit our businesses but also contribute to the broader economic development of Nigeria and Africa,” he continued.
Oludaisi Elemide, the Speaker of the Ogun State House of Assembly, praised Dangote Group for its numerous economic interventions and urged the business to step up its eco-friendly initiatives.
