The President of the Dangote Group, Aliko Dangote, has called on African countries to remove all economic barriers obstructing free trade among nations to achieve sustainable growth and development across the continent.
Dangote made this call while speaking at the launch of ‘The World Ahead 2023,” a special publication by The Economist magazine, in Lagos.
Represented by the Group Executive Director/Group Chief Risk Officer, Dangote Industries Limited, Dr. Adenike Fajemirokun, Dangote expressed his commitment to solving some of the economic challenges faced by the African continent and its people. He noted that the private sector must also be involved in building a sustainable future that guarantees equitable growth and prosperity for all, not just the public sector.
To this end, the Dangote Group has committed over $20 billion to investments in various key sectors of the African economy, including energy, agriculture, and infrastructure. These investments are aimed at turning around Africa’s economic fortunes by fostering backward integration, creating thousands of jobs, eliminating dependence on imported products, and improving the nation’s foreign exchange earnings.
Dangote highlighted some of the group’s recent investments, such as commissioning a 3 million metric ton fertilizer plant, expanding cement production, and the soon-to-be-commissioned 650,000 barrels per day refinery. He noted that these investments would empower farmers, create job opportunities, and significantly improve the nation’s foreign exchange earnings.
Furthermore, Dangote stated that the group was committed to confronting environmental issues by investing in alternative fuels and unlocking enormous opportunities in the communities where it has a footprint. He emphasized that the group would continue to deliver substantial value to its shareholders while contributing to the sustainable economic growth of the African continent.
Dangote called on African countries to work together to dismantle all economic barriers hindering free trade among the nations. He stressed that achieving sustained economic growth and development across the continent is the collective responsibility of both the public and private sectors.
