Dangote Group to invest over $5b in agriculture in 5 years

Dangote Group of Companies on Tuesday said it would invest 4.6 billion dollars in agriculture and 800 million dollars in the beef and dairy industry in the next five years.

The Chairman of the group, Alhaji Aliko Dangote, said this at a three-day National Conference on Transformation of Nigerian Livestock Industry in Abuja.

Represented by Alhaji Mansur Ahmed, the Executive Director, Stakeholder Management and Corporate Communications of Dangote Industries Limited, Dangote said that the 4.6-billion-dollar investment in agriculture would be used to explore and develop sugar, rice and tomato paste production.

According to him, the 800 million dollars will be used to fund and develop beef and dairy projects of the company.

Dangote called on the private sector to invest in livestock sector to reposition the industry.

He said “Nigeria spends over 20 billion dollars to import food. Dangote Group plans to go invest 4.6 billion dollars in agriculture and 800 million dollars in beef and dairy in the next five years.”

Dangote Group is a Nigerian multi-national industrial conglomerate, founded by Aliko Dangote.

It is the largest conglomerate in West Africa and one of the largest on the continent.

The group is one of the leading diversified business conglomerates in Africa and employs more than 26,000 people.

 

215 total views, 4 views today

Check Also

Dangote seeks continued low oil prices for growth of agriculture

Business mogul, Alhaji Aliko Dangote has prayed that oil prices will remain low to wean ...

Please leave a comment