An apex Accounting body in Nigeria, The Institute of Chartered Accountants of Nigeria (ICAN), has praised the pioneering roles played by the pan-African conglomerate, Dangote Group, in shaping the economy of Nigeria, for the benefits of Nigerians and other African countries.

The Institute praised the management of the Group for the giant strides it has been undertaking in manufacturing business to make the country self-sufficient in a number of commodities that would have otherwise made the nation spend huge foreign exchange on import.

ICAN President, Alhaji Razak Jayeola, made these statements when he led the executive members of the body to the Lagos head office of Dangote to pay a courtesy visit. He noted that the Company has become a pride of Africa in its trail blazing efforts in manufacturing businesses like Cement and Sugar, which had hitherto cost Nigeria huge foreign exchange to import for which the nation is now self-sufficient, and even now exporting.

Jayeola also alluded to the 650,000 bpd refinery currently under construction, which will also save Nigeria foreign exchange presently being spent on importation of petroleum products. The Institute particularly praised the ingenuity of the management led by Mr. Olakunle Alake, saying “It shows from all indication that he has skills laced with strategy with which he has been steering the company to profitability.

“Dangote Group is a pride of Africa, its contribution to job creation is unquantifiable Nigeria has achieved self-sufficiency in Cement and sugar through the efforts of the company Nigerians can’t thank you enough”, the ICAN boss stated. He also explained some of the challenges being faced by the Institute, and efforts being made by his leadership to turn things around. He disclosed that the institute has commenced stakeholders fora to address these challenges. Jayeola explained that his leadership is looking towards the application of information technology for accounting purposes, and that an Accounting Technology Conference has been scheduled as a start up towards the use of technology in Accounting.

The Group Managing Director of Dangote Industries Limited (DIL), Olakunle Alake, who was in company some management members as well as some staff who are ICAN members, showered accolades on the ICAN leadership for its foresight and orderly manner it organises Institute. He explained that DIL is a quality organization that is always in search of quality which was why it company has a large number of ICAN members as staff. He said: “In Dangote, we are always trying to grow the economy and we believe that for the economy to grow, you must create jobs.

A key element to be a producing nation, we must create a cycle of wealth. That is why we invest and re-invest. “In Dangote, we don’t keep our dividends we use it for more investments, any nation that must grow must create jobs, that is why we touch people’s lives positively, we create wealth through job creation.” Alake challenged the government to look into wealth creation for Nigerians through massive job creation.

SOURCE: https://www.trendingaccounting.com/2019/05/ican-lauds-dangote-for-job-creation-in.html