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Home Business News

Why Dangote feels Nigeria should focus on agriculture

Onome Ohwovoriole by Onome Ohwovoriole
November 18, 2017
in Business News
Aliko Dangote

Aliko Dangote, President, Dangote Industries

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In an interview granted on the sidelines of the Alaghodaro investment summit recently organized by the Edo State Government, billionaire industrialist, Aliko Dangote revealed why he has intensified his group’s investments in the agricultural sector.

Based on my own estimations Nigeria should be creating something like about 5 million jobs every year for us to become prosperous. The only way we can create this high number of jobs is to go and concentrate on agriculture.

President Buhari shares the same view 

In his 2018 budget presentation to the National Assembly, President Muhammadu Buhari highlighted his administration’s achievements in the agricultural sector and plans going foward with the establishment 6 staple crop processing zones.  He also described smuggling of food items into the country a national crime.

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food security is an important aspect of this administration’s national security agenda. any person involved in smuggling of food items is a threat to our national security and will therefore be dealt with accordingly.

Keying into an a sector supported by the government, gives the Dangote Group access to grants and subsidies. Essential in doing business in a harsh climate like Nigeria.

Beyond the jobs

In addition to creating jobs, investing in agriculture reduces Nigeria’s reliance on foreign food imports which act as a drain on the nation’s foreign reserves. Interventions in rice farming have led to a drop in rice imports in the country.

Dangote’s investments in the agric space

In addition to investing in sugar and salt refining, the Dangote group has also unveiled plans to invest in dairy farming, and Dangote rice is expected in the market by 2018. The Dangote group also runs a tomato processing plant which has had to shut down severally due to unavailability of tomatoes.


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Tags: Agriculture in NigeriaAlhaji Aliko DangoteNews ReviewPresident Muhammadu Buhari
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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