Africa’s richest man and most successful industrialist, Aliko Dangote, said the country will no longer import goods from other countries.
He made the disclosure At the Financial Times’ 4th annual Africa Summit at Claridges in London.
“We are not going to import anything any longer,” Dangote said, in the presence of Nigerian vice-president Professor Yemi Osinbajo, Congolese presidential hopeful Moise Katumbi, and about 300 business leaders.
“In Nigeria we are learning how to produce the entire value chain,” Dangote added.
Once a heavy importer of fertiliser, Nigeria is now gearing up to produce 3M tonnes of locally manufactured fertiliser, transforming the nation into one of the largest fertiliser exporters in Africa.
In 2007 Nigeria was the second largest importer of cement after the US, Dangote reminded the audience of business elites. “Today, we have not only satisfied domestic needs; we have become a leading exporter of 6-7M tonnes of cement,” he added.
Diversifying into agriculture, Dangote has eyes on the dairy industry motivated by the fact that “98% of all milk consumed in Nigeria is imported.” Same for rice.
Dangote Group has invested heavily in rice production by investing in local farmers and then offering to buy back the 1M tonnes at open market prices that they are growing.
“Soon we will be able to feed not only Nigeria but the entire 320M large West African market,” he said.
Dangote’s business accumen was on rare exhibition as FT editor Lionel Barber himself seemed impressed with the business mogul’s quick familiarity with the nuts and bolts of his businesses.
“Are we going to continue to import everything?” Dangote asked. “Freight rates are now cheap but they will go up soon. A population of over 200M cannot continue to import basic needs on a daily basis,” he answered himself.
By 2100 Dangote stated Africa will represent 49% of the world’s population, up from 30% today. “If you don’t think big we won’t grow at all,” he said.
“In Africa you have to play long-term.”
Aside from Nigeria, which African nations do you think are good growth opportunities? Barber asked Dangote.
“Aside from Nigeria?” the business leader repeated and smiled. “I’d have to pick Nigeria. I am a big fan of Nigeria. We are only using 8 per cent of our land.”(NAN)in

he is nigerian,not african....

True Nigerian.

Great one dangote, let's think home let's think Nigeria

If you into any farm produce / foodstuff come update your price on this thread, your market, location/state

This man...his wings needs clipping the earlier. 'we'= he on behalf of nigeria cos he calls the shots of our economy. Even pastor sef just dey look.

If you are into fishing in owerri can direct you where to get catfish fingerlings for 10 naira

Dangote reduce price of cement its too high.

lgboks:

i just dont get you
Someone with great vision.... Pushing your country forward and you saying his wings needs clipping.
.. How would that help us? Before he came along , where there no other great rich men in Nigeria? Abi when your politicians where milking the economy dry and investing in other countries you complained, if rich men invest and shop in other countries (thus improving that countries economy ) you complain. Now someone with vision comes along, takes advantage of our vast resources and is flying high, you say clip his wings Did america get where it is now by clipping the wings of his great men? Do u want to keep importing every thing forever (down to toothpick).... Dont even know how to continue
Nigerians is Nigeria's no. 1 problem i must say
#Not the British
#Not our politicians

monopoly!! youll realize

hisgrace090:
Dangote reduce price of cement its too high.

God bless you. Price of 50kg in the international market is $3.5, our messiah sells at $7. He is single handedly wrecking our economy in the name of local production.

lgboks:

lovely observation sir..... Just that others are not standing up to give him good competition (from my point of view)

They cant cos with his newly enjoyed international status, he is a door thru which upcoming bizmen MUST pass if they want good profit& respect shapali. The bad thing is, he is now a demigod of sorts; he can ruin nigeria cos he can hold us to ransom if he likes. His give back to communities where his industries are is so bad. Bill Gates cant do that to Usa if he even attempts such. Dangote and Charity? Never heard of. I can go on with constructive criticisms, but lemme hold. Naija people tend to overlook once you are enmasser of wealth. Evans is good example.
Which nigerian presido can come to office and try to prove survival without him? none!

My point is- He's now an influential chesspiece on our game and if he falls, the hitback would make us regret putting much reliance on him!!