• Friday, May 24, 2024
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Industrialization key to diversification of the economy – Dangote

Industrialization key to diversification of the economy – Dangote

The Pan-African  Conglomerate, Dangote Industries Limited (DIL) has emphasized the crucial role of industrialization in diversifying the economy.

Tunde Mabogunje, Regional Sales Director, Lagos/Ogun Dangote Cement PLC, stated this at the ongoing 13th Gateway International Trade Fair at the M.K.O Abiola Trade Fair Complex, Oke Mosan, Abeokuta.

Speaking during Dangote Special Day at the Fair, Mabogunje highlighted the company’s commitment to manufacturing goods domestically, utilizing Nigeria’s abundant raw materials.

Read also: Dangote Cement three-month revenue doubles to N817bn

He noted that the theme of the Trade Fair, “Achieving Economic Prosperity Through Business Connection, Trade and Investment” resonates with Dangote Group as it is focused on manufacturing of goods rather than importation thus making use of the abundant raw materials in Nigeria.

“Today, through our vast investment across many sectors, we are adding value to the raw materials and transforming the same into finished products. In these sectors, we are creating linkages that connect the whole economy while at the same time promote backward integration. We believe that industrialization is key to diversification of the economy,” he said.

Mabogunje, who underscored the company’s focus on creating linkages that connect the entire economy and promote backward integration, stressed that DIL is a regular participant at major trade fairs across the country, as one of the means of demonstrating its belief that Chambers of Commerce & Industry occupy a unique position in driving economic development through their activities.

He stressed that Dangote Industries Limited, is the nation’s foremost indigenous Pan-African conglomerate with interests in cement, sugar, salt, poly products, real estate, agriculture, logistics, telecommunications, steel, oil and gas among others.

Mabogunje, who said through these subsidiaries and others, the Group has been able to provide jobs for thousands of Nigerians, stressed that the company’s target is to ensure that Nigeria becomes self-sufficient in all the sectors it operates in.

“Our food subsidiaries, Dangote Sugar Refinery, NASCON Allied Industries (Dangote Salt) and Dangote Rice are providing jobs through various schemes. Dangote Sugar Refinery, through its out-grower and backward integration schemes has provided jobs to thousands of farmers in the host communities. The coming of Dangote Fertiliser has to a great extent helped to change the face of agriculture in Nigeria. Dangote Fertilizer within the short period it commenced operations has already become one of the market leaders.

“Therefore, those who want to know how to key into the fertilizer sales as Distributors, retailers or consumers are hereby invited to visit our stand and have talks with our representatives.

“Our latest business addition, the Dangote Petroleum Refinery, which commenced operation recently has shown that it is a game changer offering far more cheaper fuel to Nigerians. Our subsidiary, Dangote Sinotruck West Africa Ltd offers our customers a full range of products and services. Dangote Sinotrck located at Ikeja, Lagos state assembles a full range of different types of commercial vehicles covering heavy-duty trucks, medium trucks, light trucks, semi-trailers and buses,” he stated.

Read also: Dangote Sugar suspends merger with NASCON, Dangote rice

Mabogunje, who lauded the Ogun State Chamber of Commerce, Industries, Mines & Agriculture (OGUNCCIMA) for organising the fair, noted that Ogun state is strategic as it has one of the largest concentration of industries in Nigeria and serve as a corridor for the transportation of goods, services and people between the nation’s commercial centre-Lagos and the rest of Nigeria and even neighbouring countries of Benin Republic, Togo and Ghana.

Earlier, Mike Akingbade, President of OGUNCIMMA, who described the Dangote Group as the driving force of the Gateway International Trade Fair, praised Dangote’s contributions to Nigeria’s economy, emphasizing its role in making the nation self-sufficient in key sectors.

Various artisan groups expressed appreciation for Dangote’s discounted products at the fair, underscoring the company’s commitment to supporting local businesses and communities. Visitors to the Dangote Group’s pavilion seized the opportunity to purchase products at reduced prices, further highlighting the company’s impact on the local economy.