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The Business Empire of Africa’s Richest Man is Expanding

Dangote president and CEO Aliko Dangote has been vocal about the need for Nigeria to move away from its dependence on imports. The biggest of many projects on the go for the Dangote Group is the $12bn refinery under construction just outside Lagos in Lekki. The refinery project will create an estimated 1600 permanent jobs and 100,000 indirect jobs. Dangote has moved into agriculture on the back on the government’s efforts to make Nigeria self-sufficient in food production. One of the focuses is on backward integration, in which production plants for tomato, sugarcane and rice will be powered using biomass technology. Farmers are being supported with seeds and the fertiliser plant will back up the vast agricultural holdings, increasing self-sufficiency. The group is also going into oil and gas. It has acquired two oil blocks and production is due to start in 2020, while the firm also has plans in coal and bitumen mining. Production of locally made trucks is also in a trial phase, with an eye on exports to West Africa.

SOURCE: AFRICAN BUSINESS MAGAZINE

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