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Dangote emerges highest private sector investor in Nigeria


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Nigeria

Dangote emerges highest private sector investor in Nigeria

 

THE Federal Government has described Dangote Group as the highest private sector investor in the country, with an investment portfolio, running into billions of dollars.
The group has also resolved to invest over N900 billion into the economy within the next 12 months.
The Minister of Trade and Investment, Olusegun Aganga recently, said the Federal Government would as a matter of necessity put in place a platform to recognise the contributions of entrepreneurs like Dangote and the need to encourage them to do more so that other business men would be interested in the development of the nation’s economy.

Obviously impressed by the level of work on the Ibese Plant and the evidence of soonest attainment of self-sufficiency in cement production, after a tour of the plant recently, Aganga disclosed that the Federal Government would as a matter of necessity put in place a platform to recognise the contributions of entrepreneurs like Dangote and the need to encourage them to do more so that other business men would be interested in the development of the nation’s economy.
Said he: “I must say that much has been achieved by Dangote Cement in an attempt to meet local demands. And government would like to replicate these exploits in the production of rice, sugar and wheat.”

Speaking at the agro-business sector in Lagos last week, Aganga said the investment figure of N1.5 trillion for this year, which was a conservative one because of the few companies captured, was arrived at after an analysis of the survey forms filled by the companies during the ministry’s maiden meeting with the Organised Private Sector and captains of industry.
Of the total amount, the President, Dangote Group, Alhaji Aliko Dangote will invest N900 billion in the production of fertiliser and petro-chemicals.
The Nigerian Bottling Company Plc pledged to invest N45 billion, Guinness Nigeria Plc ($225 million), Odua Investment Company Limited (N37 billion) and Chairman, Ikeja Hotels Plc, Mr. Goodie Ibru ($6 million), among others.

According to the survey, the manufacturing, real estate, agro-allied and automotive sectors will get N1.06 trillion; N198.5 billion, N67.8 billion and N45 billion investments respectively, while tourism, trade and commerce, transport and others will make up the rest.
Aganga, who commended the Nigerian investors for their confidence in the Nigerian economy, added that the Federal Government was committed to providing the conducing environment to enable the private sector to play a pivotal role in the transformation of the country’s economy.
He said at the end of the one-day workshop on agribusiness, stakeholders would also come out with a roadmap for the implementation of the Nigerian Agribusiness and Agro-industries Development Initiative.      

This, according to him, will be a major step forward in the efforts aimed at job creation and economic growth.
According to him, “the result of that survey has just been released. It showed that the local companies would invest N1.52 trillion in the Nigerian economy within the next 12 months. And this is in the non-oil sector alone.”
According to Nigeria ’s Vision 2020 document, Nigeria needs to invest N34 trillion in growth areas in the next four years. Of this, the Federal Government should account for N10 trillion, state governments, N9 trillion and private sector (both local and international) N15 trillion.

 

 

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Updated 7 Years ago
 

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