$700m sugar investment will end Nigeria’s importation – Dangote

The President of Dangote Group, Aliko Dangote, says the company is committed to ensuring that Nigeria ends the importation of raw sugar into the country by “actively intensifying its execution of the Sugar Backward Integration.” He said the group has committed over $700 million in land acquisition, machinery, infrastructure, manpower and other impactful activities to […]

The President of Dangote Group, Aliko Dangote, says the company is committed to ensuring that Nigeria ends the importation of raw sugar into the country by “actively intensifying its execution of the Sugar Backward Integration.”

He said the group has committed over $700 million in land acquisition, machinery, infrastructure, manpower and other impactful activities to boost local production.

He spoke in Abeokuta, Ogun State, on Wednesday during the ‘Dangote Special Day’ at the ongoing 14th Gateway International Trade Fair.

Represented by Tunde Mabogunje, the Regional Director Lagos/Ogun Dangote Cement, the industrialist said that Dangote Sugar as a leading brand has made a remarkable impact on the Nigerian sugar sector. 

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He said, “The company is committed to ensure that Nigeria ends the importation of raw sugar into the country by actively intensifying its execution of the Sugar Backward Integration. In this regard, it has committed over $700 million in land acquisition, machinery, infrastructure, manpower, community relations, corporate social responsibility (CSR) and other impactful activities.

“Similarly, to support the government in food security, we are also investing in the agricultural sector. These agricultural products will soon be in the market.”

He said Dangote Group also 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 ship loads of fertiliser to France, USA, Mexico, Uruguay and Argentina and to African countries which include Republic of Benin, Zambia, Cameroon, South Africa, Cote’ 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.”

On the trade fair, he said, “Our expectations therefore are that through this Trade Fair, we will be able to expand awareness for our innovative products, generate sales, get prospective buyers, improve the image of our brands and open new markets that will further translate to job creation and overall economic development.

“We are confident that this long-standing partnership with OGUNCCIMA will not only be beneficial to both of us, but to Nigeria, and indeed the African economy as whole.”

The Speaker of the Ogun State House of Assembly, Oludaisi Elemide, applauded the group for its various interventions and urged the company to improve on its environmental friendliness.