Dangote Pumps $700M into Local Sugar Production to Curb Imports

With an investment of more than $700 million in sugar production, Dangote Group President Aliko Dangote has reiterated the company’s commitment to halting the importation of raw sugar into Nigeria.

Speaking on Wednesday during the “Dangote Special Day” at the 14th Gateway International Trade Fair, which is currently taking place in Abeokuta, Ogun State, Dangote stated that the company is speeding up its Sugar Backward Integration Plan in order to increase domestic production.

“To ensure Nigeria ends raw sugar importation, we are actively executing the Sugar Backward Integration strategy and have committed over $700 million to land acquisition, machinery, infrastructure, manpower, community relations, and corporate social responsibility initiatives,” he stated, speaking on behalf of Tunde Mabogunje, Regional Director, Lagos/Ogun Dangote Cement.

The business has started exporting fertilizer to countries including France, the United States, Mexico, Uruguay, Argentina, and various African countries like the Benin Republic, Zambia, and Cameroon, Dangote further revealed.
The Dangote Refinery has also started exporting refined petroleum products, he continued, and its investments in cement production throughout Nigeria and more than ten African nations have made export financing easier.
“As a conglomerate spearheading Nigeria’s economic diversification, we will keep looking into manufacturing opportunities to boost economic growth, create jobs, and replace imports,” he said.

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Dangote was hopeful the trade show will increase market reach, raise awareness of the company’s goods, and support economic growth and job creation.

He went on to say, “We are sure that this long-standing collaboration with OGUNCCIMA will help our companies as well as the overall economic growth of Nigeria and Africa.”

In addition to praising Dangote Group for its numerous economic interventions, Ogun State House of Assembly Speaker Oludaisi Elemide asked the corporation to strengthen its environmental sustainability initiatives.