Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News

Aliko Dangote Has A Million Dollar Plan For Nigeria’s Tomato Industry

Editor by Editor
January 18, 2016
in Business News
[Corporate Action] Dangote Cement PAT Rises By 12% to N157 billion In Q3’2015
Share on FacebookShare on TwitterShare on Linkedin

Africa’s richest man, Aliko Dangote wants to revolutionize tomato production in Nigeria, with a giant factory that will boost domestic output, create jobs, and even, indirectly, fight insurgency in Northern Nigeria.

Dangote Group have been working for five years to build a $20-million tomato processing plant outside the northern city of Kano, which has been blighted by poverty and unemployment.

When the giant factory is completed, it will equal the size of 10 football pitches, set alongside 17,000 hectares (acres) of irrigated fields, and will help by tapping a potential agricultural goldmine.

RelatedPosts

Quoted companies pass cost to customers, report N5.2 trillion revenues in first half of 2022

Aliko Dangote’s wealth drops to $19 billion, now 80th world’s richest

According to the Ministry of Agriculture, Nigeria’s current annual demand for tomato puree is put at 900,000 tonnes, while the Dangote factory which is expected to open next month will provide 430,000 tonnes of paste that is used in preparing lots of Nigerian delicacies like Jollof rice and stew.

“Nigeria is such a huge market for tomato paste that we will find quite challenging to satisfy,” the factory’s general manager, Abdulkarim Kaita, told AFP.

“Already local tomato paste packaging companies have placed orders with us which we will have to work hard to satisfy.

“We are set to begin operations. We are only waiting for the tomatoes which are ripening in the fields.”

Nigeria grows some 1.5 million tonnes of tomatoes every year, making it the 14th biggest producer in the world.
But it’s forced to rely on imports of tomato puree, mostly from China, because of a lack of processing plants.

News continues after this ad


Dangote’s factory, built by Switzerland-based Syngenta, will directly employ 120 people and 50,000 farmers have been engaged to grow the tomatoes required for the process of making the concentrate.

This investment by Dangote is very significant for the country at a time where the Buhari administration is looking for means to grow the local industries and reduce importation to the bearest minimum. This can also help in reducing the level of foreign exchange, the country spends on importation of tomatoes from other countries.

Related

Tags: AgricultureAliko DangoteManufacturing

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Kenyan Shilling plunges against dollar since William Ruto’s victory
    • Nigerian Medical Association says Nigeria may someday import doctors if brain drain continues
    • Nigeria’s leading FMCGs grow revenue to N504.719 billion in half year 2022

    Follow us on social media:

    Recent News

    Kenyan Shilling plunges against dollar since William Ruto’s victory

    Kenyan Shilling plunges against dollar since William Ruto’s victory

    August 17, 2022
    Resident Doctors’ Strike: Implementation of MoU will end strike – NMA

    Nigerian Medical Association says Nigeria may someday import doctors if brain drain continues

    August 17, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com