Dangote increases agric investments

The President, Dangote Group, Aliko Dangote said the company has invested massively in the agric sector to complement current efforts of the Federal Government at diversifying the economy.

Speaking at the weekend in his office during a meeting with some business men from  Asia, in Lagos,  said it was because of his belief in the government’s approach at re-energising the economy and make it export oriented  that made him to step up his investment in agriculture especially in the area of food sufficiency.

He said:  “We have invested massively in rice, sugar, dairy products, and tomatoes. Our rice-out grower scheme will produce rice by next year that reduces our rice import to nearly zero because Nigeria imports more than half of the rice it consumes. We have expanded our sugar operations with our operations in Tonga in Nasarawa in addition to Numan sugar projects where sugarcane is cultivated planted for raw sugar production that will be refined.  Some months ago, we laid the foundation for the construction of ultra-modern rice processing integrated plant that will process 16 metric tons of paddy rice in one hour, by the time you multiply this by the number of hours and days it operates, you will understand that this is huge.”

According to him, the interesting thing about investment in agric is that apart from food sufficiency, the job potential is unquantifiable. He said he is investing massively in agribusiness, promoting industrialisation through the backward integration process to ensure Nigeria becomes self-reliant in food production in good time to save it from the much needed foreign exchange.

He said: “We are producing the raw materials needed in our factories. In the sugar sector, we developed a sugar backward integration project plan targeted at the production of 1.5 Metric Ton (Mt) per annum from various sites across Nigeria, in the next 10 years.”

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