Africa’s foremost entrepreneur and President of Dangote Group, Aliko Dangote, has urged African countries to dismantle all economic barriers hindering free trade among the nations while committing over $20 billion (about N9.2 trillion) on pan-African investments through the Dangote Industries Limited (DIL).
Dangote stated this in Lagos at the launch of a special publication, ‘The World Ahead 2023’ by The Economist, global publisher.
Dangote, who was represented by the Group Executive Director/Group Chief Risk Officer, DIL, Dr Adenike Fajemirokun, said: “Our massive investments is over 20 billion dollars across key industries, including Energy, Agriculture, and Infrastructure.
“Our recently commissioned 3 million metric tons fertiliser plant, expansions in cement production, and our soon-to-be commissioned 650,000 barrels per day world’s largest single-train refinery are all set to empower farmers, foster backward integration, create thousands of jobs, eliminate our dependence on imported products, and improve our nation’s foreign exchange earnings significantly,” he stated.
Dangote Sugar pays N18.22bn dividends
Obaseki, Dare, Iwuanyanwu, others to receive Sports Philanthropists’ Awards
Dangote pointed out that the African population has been growing exponentially.
“Nigeria, for instance, is projected to be the world’s third largest population by 2050 surpassing the United States, only behind India and China, so the question of sustained economic growth has become increasingly critical and isn’t one for a single sector to tackle alone.
“To secure the future of our country and our continent we must forge strong public-private partnerships and dismantle regional barriers with vehicles like the African Continental Free Trade Agreement (AfCFTA),” he noted.
The Lagos State Deputy Governor, Dr Obafemi Hamzat, described the publication by The Economist as a valuable document for policymakers and strategic planners.
Hamzat said its contents reaffirm part of the strategies the Lagos State government has executed to make Lagos assume its status as the preferred destination of choice for investors.
The Regional Executive and Managing Director of Ecobank Nigeria Limited, Mr Mobolaji Lawal, said the launch event provided an opportunity for knowledge sharing for the government and private sector to explore emerging opportunities in the digital space.