President and Chief Executive of the Dangote Group, Alhaji Aliko Dangote during the ground-breaking ceremony of the 6 million metric tonne pa, Okpella cement plant, said that, President Mohammadu Buhari’s diversification of the nation’s economy was on the right path.
Dangote based his assertion on the new policies government implemented through the Ministry of Industry, Trade and Investment as well as Ministry for Solid Mineral Development.
Aliko Dangote also hailed the President’s efforts to revitalise the solid mineral sector, noting that the sector could provide employment and improve non-oil revenue.
The Africa’s richest man averred that the one billion dollar cement plant his group was building in Edo would transform the state economy and that of the community – Okpella.
Dangote pointed out that investment in local cement plants has saved Nigeria $3 billion spent on importation of the product, he called on the private sectors to invest more in critical areas of the economy since the government has expressed readiness to resuscitate the industrial sector.
The group’s CEO disclosed that he would always invest in Nigeria, saying the country remains the best place to invest in the world.
“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”, he claimed.
He pointed out that, “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,” he added.
“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”, further said.
The state’s Governor Adams Oshiomole said his administration has ancreated enabling environments for businesses to strive.
He said, continuous investment in the mining sector would earn the nation $25 billion annually by 2025.
The $1 billion cement plant has the capacity to create 6,000 new jobs this would further be boosted when another 12 million metric tonnes plants were completed at Itori and Ibeshe.
