Africa’s front line investor and business man, Alhaji Aliko Dangote has said that Nigeria remains the best place in the world to invest. Dangote made the disclosure at the newly established cement factory at Okpella financed by the group.
Aliko commended President Muhammadu Buhari’s effort at reviving the economy especially the new policies implemented through the Ministry of Industry, Trade and Investment as well as Ministry for Solid Mineral Development.
Dangote noted that the solid mineral industry could provide employment and improve non-oil revenue. Speaking on the benefit of the cement factory Dangote express optimism that the new plant could transform the economy of Okpella and Edo State.
Dangote disclosed that through his investment in local cement plant, Nigeria has saved a whooping $3 billion that could have been spent importing cement to the country. Dangote pleaded with other investors to come forward to support the federal government’s stride in restructuring industrial sector.
Insisting that there couldn’t have been a better time to make investment, Dangote said “While others are sitting and waiting, the Dangote Group is thinking ahead by investing in additional cement capacities in Okpella in Edo State and Itori in Ogun State. We have also invested in a 100MW Power Generation Plant for Itori and Okpella.
“A key factor that drives investments in an economy is the presence of an investor-friendly business climate. Indeed, Edo State is one of the most attractive investment destinations in Nigeria. “The economic reforms in Edo State, especially in tax, innovations in rural finance and investment on infrastructure, have produced an enabling environment that has further provided a platform for future growth.
These factors encouraged us to consider Edo State as the right destination for this investment.
“By this investment, Dangote is increasing its production capacity, thus maintaining its leadership in the industry. The Okpella six million capacity plant will take our local capacity to 35m mtpa, and with the coming on stream of the 6m mtpa plant at Itori in Ogun State, our local capacity will go up to 41m mtpa.”
Dangote has business investment in well over 15 African countries, and insisted that the Edo plant is one of many successful the group has embarked upon in line with its Pan African investment strategy.
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