Dangote Cement, a success story - Minister
Written byMonday, 01 August 2011
THE Minister of Trade and Investment, Mr Olusegun Aganga, has described the exploits of Dangote Cement Plc as a success story of an indigenous investor.
The minister lauded the untiring efforts of the company in its continuous strive for rapid expansion to meet local demands of the essential commodity.
Aganga, speaking with newsmen shortly after being conducted round the 6 million tonnes capacity plant of the company in Ibese, Ogun State, acknowledged that the president of Dangote Group, Alhaji Aliko Dangote, had abiding faith in Nigeria’s economy, hence his enormous investments in the country.
“My intention for coming here today is to know about where we are in the concept of backward integration policy of government, so that government could set a target for the indigenous manufacturers on the way forward, but from what I have seen now, the Dangote Cement is a success story.
“I am pleased and satisfied with the high pace of work in the site and very optimistic that Nigeria will soon become self-sufficient in cement production.
“This is a success story in that some of the equipment we have seen here today are the biggest in Africa. With the situation I met on the ground, I will do a memo to the Federal Executive Council (FEC) on what we have achieved in the cement industry and this contributions have to be acknowledged,” Aganga said.
He added that the government would work towards encouraging investments in other manufacturing sub-sector, so as to replicate the achievements recorded in the cement industry in other areas like sugar and rice productions.
Impressed by the level of work on the Ibese plant and the evidence of the attainment of self-sufficiency in cement production, Aganga said the Federal Government would, as a matter of necessity, put in place a platform to recognise the contributions of entrepreneurs like Alhaji Dangote and the need to encourage them to do more.
“I must say that much has been achieved by Dangote Cement in an attempt to meet local demands. And government would like to replicate these exploits in the production of rice, sugar and wheat,” he said.
In his remark, Alhaji Dangote said the investment of his company in the Nigerian economy was part of import substitution strategy adopted by the organisation, to gradually move away from outright importation to local manufacturing.
He assured that with the investment in cement in other African countries and after meeting local demands, his organisation would move into local production of sugar by applying the same growth strategy.
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