The President of Dangote Group, Aliko Dangote, has reaffirmed the conglomerate’s commitment to ending raw sugar importation in Nigeria with an investment exceeding $700 million in sugar production.
Dangote, who spoke on Wednesday during the ‘Dangote Special Day’ at the ongoing 14th Gateway International Trade Fair in Abeokuta, Ogun State, said the group is accelerating its Sugar Backward Integration Plan to boost local production.
Represented by the Regional Director, Lagos/Ogun Dangote Cement, Tunde Mabogunje, he said, “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.”
Dangote further disclosed that the group has commenced the export of fertiliser to countries including France, the United States, Mexico, Uruguay, Argentina, and several African nations such as Benin Republic, Zambia, and Cameroon.
He added that the Dangote Refinery has also begun exporting refined petroleum products, while its cement production investments across Nigeria and over 10 African countries have facilitated export financing.
“As a conglomerate driving Nigeria’s economic diversification, we will continue to explore opportunities in the manufacturing sector to replace imports, create jobs, and support economic growth,” he stated.
Dangote expressed optimism that the trade fair would enhance awareness of the company’s products, expand its market reach, and contribute to job creation and economic development.
He added, “We are confident that this longstanding partnership with OGUNCCIMA will not only benefit our businesses but also contribute to the broader economic development of Nigeria and Africa.”
The Speaker of the Ogun State House of Assembly, Oludaisi Elemide, commended Dangote Group for its various economic interventions and urged the company to improve its environmental sustainability efforts.
