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Dangote to invest $16bn, create 180 000 jobs in 4 years

09 May 2014, 12:22

Abuja - The President of Dangote Group, Aliko Dangote, said the group would invest $16 billion to create various businesses in Nigeria and other African countries in the next four years.

Dangote made this known in Abuja at the plenary of the ongoing World Economic Forum (WEF) on Africa.

Dangote said that the investment programme would translate into creation of no fewer than 180 000 jobs in Nigeria and the continent.

“We are investing a total of $16 billion (N2.6 trillion) in the next four years to create a lot of businesses in refineries, petrochemical and to make Nigeria self-sufficient in fertiliser.

 “We are building a fertiliser plant, which is going to be 2.8 million tonnes, and part of it will be for export because it is more than what Nigeria requires,” he said.

Dangote, who said that the company was focusing on agriculture to address the problem of unemployment in the country, said that the group was partnering the Federal Ministry of Agriculture to achieve the goal.

"The most important aspect of our business today is the agricultural side of which we are not doing before.

"We have got a letter that 60 000 hectares of land is available in Niger State, 60 000 and in Edo we have 64 000 hectares,” he said.

He stated that the only way to stop the terrorism challenge, especially Boko Haram, in the country, was to create jobs, adding that Dangote group had put measures to support the government in that regard.

“We decided to invest a total of $2 billion in sugar by making Nigeria self-sufficient in sugar. We are going to six states in the North-East; we are going to Taraba and Adamawa.

"In the North-West we are going to Kebbi, Sokoto and Jigawa, and then in North Central, we are going to Kogi and Kwara.

"But when you look at all these after investing in rice and sugar, we are going to have an opportunity to create 180 000 jobs.

Dangote cautioned against looking at the negative side of the economy, saying there were opportunities waiting to be exploited.

He noted that government had done a lot to improve investment environment in the country, adding that there was the need for Nigerians to be creative and make use of available opportunities in the economy.

-  NAN

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