By DAYO ADESULU
Dangote Commits to Local Sugar Production with $700M Investment
The President of Dangote Group, Aliko Dangote, has reaffirmed the company’s commitment to ending raw sugar importation in Nigeria with an investment exceeding $700 million in local sugar production.
Speaking at the 14th Gateway International Trade Fair in Abeokuta, Ogun State, Dangote, represented by Regional Director, Lagos/Ogun Dangote Cement, Tunde Mabogunje, emphasized that the group is accelerating its Sugar Backward Integration Plan to boost domestic production.
“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,” he stated.
Dangote Expands Fertiliser and Petroleum Product Exports
Dangote also announced that the company has commenced the export of fertiliser to international markets, including France, the United States, Mexico, Uruguay, Argentina, and several African countries like Benin Republic, Zambia, and Cameroon.
In addition, the Dangote Refinery has begun exporting refined petroleum products, while its cement production operations across Nigeria and over 10 African countries have significantly enhanced export financing.
Driving Economic Diversification and Job Creation
As a key player in Nigeria’s economic diversification efforts, Dangote Group remains committed to reducing dependency on imports, creating jobs, and strengthening the manufacturing sector.
“We will continue to explore opportunities in manufacturing to replace imports, create jobs, and support economic growth,” Dangote affirmed.
Boosting Market Reach Through Trade Fair Engagement
Dangote expressed confidence that the Gateway International Trade Fair would expand the company’s market reach, promote its products, and contribute to job creation and economic development.
“This longstanding partnership with OGUNCCIMA will not only benefit our businesses but also contribute to the broader economic development of Nigeria and Africa,” he added.
Ogun State Speaker Commends Dangote’s Economic Contributions
The Speaker of the Ogun State House of Assembly, Oludaisi Elemide, praised Dangote Group for its significant economic contributions and urged the company to enhance its environmental sustainability efforts.
What do you think about Dangote’s efforts to boost local production and exports? Drop your thoughts in the comments!
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