Diversification Has Positioned Economy for Growth, Says Dangote

Billionaire Aliko DangoteBillionaire Aliko Dangote
  • Diversification Has Positioned Economy for Growth, Says Dangote

The diversification agenda of the federal government has positioned the economy for growth after exiting recession, the President of Dangote group, Alh. Aliko Dangote has said.

Dangote said the group has been committed to diversification of the economy which is important as relying on one resource over others is wrong.

Represented by the Executive Director, Shareholding and Corporate Communications, Engr Ahmed Monsur, he said his commitment to diverse economy is why it is in the extractive business like cement,sugar,salt,flour, agricultural products and recently into oil and gas.

Dangote disclosed this yesterday at his Comany’s special day at the ongoing Lagos International Trade fair.

He said: “We are committed to diversification as it is what the African society needs, to take our basic endowments and add value to it for economic growth as economic growth is a result of value addition.

“ We are committed to working with the government to add value to every commodity from our brand which is why we are in 12 different countries in Africa and we are opening another branch in another country by next week”.

He said their mission in the next five to ten years is not only to be the largest brand in Africa but to be in the top 20 companies of the world.

The LCCI president, Mrs Nike Akande, in her speech appreciated the Dangote group for its commitment towards the growth of the economy through diversification.

Akande said more efforts needed to be done by the government to provide conducive environment for trade so that the economy and the citizens can be the better for it.

She commended the government’s effort on the improvement of the nations position in the World Bank’s Ease of Doing Business Ranking from 169 in 2016 to 145 in 2017.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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