The Chairman of Dangote Group, Alhaji Aliko Dangote has maintained that he will always invest in the Nigerian economy.
The Dangote Group Chairman made the disclosure yesterday while opening the $1 billion Dangote cement plants at Okpella, Edo State.
The newly commissioned plants are expected to produce as much as six million tonnes of cement annually adding to the company’s current production. It is also expected to provide as much as 6,000 new jobs in the country.
Dangote at the ceremony said Nigeria still remains the best place to invest in the world, that a key factor that drives investments in an economy is the presence of an investor-friendly business climate.
Adding that the choice of situation of the groundbreaking project is in line with the status of Edo State as one of the most attractive investment destinations in the country.
He said: “The economic reforms in Edo State, especially in the area of tax, innovations in rural finance and investment on infrastructure, have produced an enabling environment that has further provided a platform for future growth. All these factors made us consider investing in the state.
“Nigeria is a growing economy. Our developmental challenges are quite enormous and will require the combined efforts of government and private sector to overcome them. It is in this light that we are here to contribute our own quota to transforming the economy of Edo State as we have done elsewhere.”
Dangote also added that the commissioned project in Okpella, Edo State is one of the several ongoing projects in parts of the country, he noted that: “Last June, we commissioned our cement plant in Ethiopia, and in August of same year in Zambia and Cameroon. We commissioned our plant in Tanzania in October. We plan to commission very soon, some of our other African plants in Senegal and South Africa.
“Also last year, in Lagos, we signed a deal valued at $4.34 billion, with Sinoma International Engineering Company Limited, for the construction of 10 additional new cement plants across Africa, with one in Nepal in Asia. The combined capacity of these new projects will be 25 million metric tons per annum.
“By the time all these new projects are completed in the next few years, we will have a total capacity of 81 million metric tons per annum. This will make us one of the top six cement companies in the world. We are currently consolidating our cement businesses across Africa in order to reap the benefits of scale. As a matter of fact, our operational offshore cement plants have started to make substantial contributions to our group revenue.
“By God’s grace, we will all gather here again to commission this plant within the next 26 months. There is no doubt that the presence of the plant here will impact positively on the community, its people and the state.”