Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports - Business

Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,366 members, 7,815,783 topics. Date: Thursday, 02 May 2024 at 06:15 PM

Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports (27414 Views)

Why Dangote Closed His Tomato Factory And Lessons You Can Learn From It / Dangote Opens One-stop Shop In Onitsha / Dangote Tomato Factory Reopens February (2) (3) (4)

(1) (2) (3) (4) (Reply) (Go Down)

Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by zik4ever: 10:23am On Mar 16, 2016

[img]http://i1.wp.com/www.mbcelebrity.com/wp-content/uploads/2016/01/unnamed-20.jpg.jpg?zoom=1.5&w=618[/img]

The Dangote Group, owned by Africa’s richest man, Aliko Dangote, has opened a tomato-processing factory near Nigeria’s northern city of Kano aimed at vying for the local market with imports from China.

“We have fully started operations today and the target is 1,200 metric tons per day,” the managing director of Dangote Farms Limited, which runs the plant, Abdulkareem Kaita, said Tuesday in an interview with Bloomberg.

“We are going to work with the farmers, they can afford to produce more because there’s a processing factory and they don’t have to suffer losses like they did before.”

The plant that will produce 1,200 metric tons per day was built following a 2011 Central Bank of Nigeria study that showed it was cheaper to process tomato paste locally than import from China, the source of about 300,000 tons a year worth $360 million.

Yet the country produces 1.5 million tons of tomatoes annually of which about 900,000 tons rot, according to the Agriculture Ministry.

Dangote’s facility will produce more than 400,000 tons of paste annually, with most of its raw material coming from farmers in the Kadawa Valley in Kano state.

Farmers will receive a guaranteed price of about $700 per ton compared to an average of less than $350 now, according to estimates by the central bank, which helped organise the farmers and arrange credit from banks.

The Dangote Group owns businesses including cement plants, flour mills, fruit canning plants, palm oil refineries, salt and oil assets.
http://www.thisdaylive.com/index.php/2016/03/16/dangote-opens-tomato-factory-to-vie-with-chinese-imports/

52 Likes 5 Shares

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by Johnrake69: 10:39am On Mar 16, 2016

Nice development

15 Likes

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by Ebay14(m): 10:51am On Mar 16, 2016

Thats good

For the first time ever.. I av found my self on dis spot on fp.. STC.. Abeg encourage me wit some likes

15 Likes

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by kokoA(m): 10:52am On Mar 16, 2016

Dangote giving us cement, he wants to give us tomatoes now, by 2017 he will be giving us petrol. God bless Dangote.

118 Likes 8 Shares

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by Pwayne2016(m): 11:00am On Mar 16, 2016

kokoA:
Dangote giving us cement, he wants to give us tomatoes now, by 2017 he will be giving us petrol. God bless Dangote.

after spewing dis u come put God bless Dangote..For wetin??

27 Likes 1 Share

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by austin2all: 11:10am On Mar 16, 2016

Is seriously think it high time we had more than one dangote in Nigeria.

68 Likes 5 Shares

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by mrvitalis(m): 11:19am On Mar 16, 2016

austin2all:
Is seriously think it high time we had more than one dangote in Nigeria.

He started by getting a loan of 500k as of 1995, that's more than today's 3 million
Give me 2 million loan and watch me compete with this man bumper to bumper in 6 years
.. . I can give u business proposal if u got cash to invest

17 Likes 4 Shares

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by MILFangela(f): 11:21am On Mar 16, 2016

Lalasticlala Mynd44 please lets have this in the front page

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by 989900: 11:31am On Mar 16, 2016

Dangote Group is a two edged sword.

OTOH, imagine what all the loots stashed away in foreign countries could do to alleviate poverty, provide jobs, improve the Naira.

Other entrepreneurs need to put up -- they'r all focused on 'oyel'.

19 Likes

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by 989900: 11:33am On Mar 16, 2016

mrvitalis:

He started by getting a loan of 500k as of 1995, that's more than today's 3 million
Give me 2 million loan and watch me compete with this man bumper to bumper in 6 years
.. . I can give u business proposal if u got cash to invest

N500K in '77 = $3.5m-$4.5m 2016 money.

28 Likes 2 Shares

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by Tycoflu(m): 12:04pm On Mar 16, 2016

One thing I like about this guy is his foresight in business and we Igbo's must emulate him by moving gradually away from importation and focusing on establishing industries to produce what we import.

64 Likes 3 Shares

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by jmichlins(m): 12:06pm On Mar 16, 2016

Let them flood the market with the tomatoes and not on newspaper. I see a better nation for all of us including you wailers

12 Likes

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by jmichlins(m): 12:11pm On Mar 16, 2016

Tycoflu:
One thing I like about this guy is his foresight in business and we Igbo's must emulate him by moving gradually away from importation and focusing on establishing industries to produce what we import.

this is good suggestion but because the person you asking them to emulate is not Igboland they will come for you but one thing i love is that the people that will come for you are broke guys whose presence is felt online

20 Likes 3 Shares

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by austin2all: 12:20pm On Mar 16, 2016

mrvitalis:

He started by getting a loan of 500k as of 1995, that's more than today's 3 million
Give me 2 million loan and watch me compete with this man bumper to bumper in 6 years
.. . I can give u business proposal if u got cash to invest

What investment can someone make with 2m that will attract him enough money such that he can be able to compete with the likes o dangote in just 6 yrs.
Remember the rate of competition has increased tremendously when compared with that of 95. Abi na juju you go use?

10 Likes

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by obailala(m): 12:20pm On Mar 16, 2016

SOmetimes I just wonder the kind of paradise Nigeria would be if all the monies stolen by past and present leaders and stashed overseas were used to set-up businesses like this in Nigeria. undecided

12 Likes

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by mrvitalis(m): 12:27pm On Mar 16, 2016

austin2all:

What investment can someone make with 2m that will attract him enough money such that he can be able to compete with the likes o dangote in just 6 yrs.
Remember the rate of competition has increased tremendously when compared with that of 95. Abi na juju you go use?

Do u have the money. ... I will give u a business proposal u sponsor it and I get my %
My idea ur money
An Indian once said that there are money on the streets of Nigeria
If u want I can show u

7 Likes 2 Shares

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by malton: 12:30pm On Mar 16, 2016

obailala:
SOmetimes I just wonder the kind of paradise Nigeria would be if all the monies stolen by past and present leaders and stashed overseas were used to set-up businesses like this in Nigeria.

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by modath(f): 12:37pm On Mar 16, 2016

So many tomato paste importers played dead while loans & venture capital was going into setting up this plant.

We sha nor wan hear the govt is planning to kill us when we see an outright ban of tomato paste importation... cos any sane business person won't like a situation where imports will make breaking even on investments impossible...

The factory didn't come on line in 2days, only Dangote & Erisco (Ric-Giko is nice BTW) put the resources for local manufacturing in place, others prefer the easy way of import, take the profit & repeat the cycle.......

Day go soon break!!

42 Likes 3 Shares

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by omoharry(f): 1:16pm On Mar 16, 2016

Tycoflu:
One thing I like about this guy is his foresight in business and we Igbo's must emulate him by moving gradually away from importation and focusing on establishing industries to produce what we import.

I Concur

1 Like

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by modath(f): 1:44pm On Mar 16, 2016

Tycoflu:
One thing I like about this guy is his foresight in business and we Igbo's must emulate him by moving gradually away from importation and focusing on establishing industries to produce what we import.

On point!!!

Lalasticlala , can you showcase this world? Thx.

1 Like

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by Mutuwa(m): 1:45pm On Mar 16, 2016

...

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by MrHackmed1(m): 1:46pm On Mar 16, 2016

Interesting

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by Brunel(m): 1:47pm On Mar 16, 2016

I have said it before, one day we will wake up to realise that Dangote IS our government.
He provides the most jobs, builds our homes, feeds us and very soon he'd fuel our engines.

19 Likes 2 Shares

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by MzMercie: 1:51pm On Mar 16, 2016

Lovely, we need more people like him in this country.

2 Likes

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by shinalv: 1:51pm On Mar 16, 2016

Good one.

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by iyatrustee(f): 1:52pm On Mar 16, 2016

I hope this ends our reliance on imported tomato puree.

3 Likes

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by manie(m): 1:53pm On Mar 16, 2016

mrvitalis:

He started by getting a loan of 500k as of 1995, that's more than today's 3 million
Give me 2 million loan and watch me compete with this man bumper to bumper in 6 years
.. . I can give u business proposal if u got cash to invest

He was born into a family of successful businessmen from Kano, he established his own business in 1977.

6 Likes

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by igwegeorgiano(m): 1:53pm On Mar 16, 2016

all these kleptomaniacs in govt steal our money and stashed it on foreign acct. if every bollionaires in nogeria will invest in naija like this ma guy is doing "naijeria" and naijerians will be better for it

3 Likes 1 Share

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by desire222(f): 1:54pm On Mar 16, 2016

Dear Mr Dangote, I do use ur tomatoe sachet, but pls can u do some improvement, the colour of the tomatoe paste is too black, unlike other brands imported from China. Thanks.

5 Likes 1 Share

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by thefakestan: 1:54pm On Mar 16, 2016

Nice 1 Dangote

ThefakeStan

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by Ochyglowsglows(f): 1:56pm On Mar 16, 2016

@ midst, did u say ric-giko is nice? That black and watery tomato paste? Wey almost fall my hand when I dey cook my party jollof?

Re: Dangote Opens Tomato Factory In Kano To Vie With Chinese Imports by seunny4lif(m): 1:56pm On Mar 16, 2016

Na God go punish all this our useless leaders angry

If dem fit use half of the money dey loot to setup companies for Nigeria shocked

See money dat useless Man Abacha loot shocked

Dat money for some countries dats their budget money for 5 years grin

4 Likes 1 Share

(1) (2) (3) (4) (Reply)

Ifeanyi Ubah Visits Super Eagles Team At Their Base After AFCON Draw.. Photos / No Deposit For New Accounts: CBN Gives Approval / Nigerians To Pay 5% VAT On Online, Internet Transactions January 2020 — FIRS

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 38
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.