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Business & Finance

Aliko Dangote To Invest $20bn in 6 Key Projects

Aliko Dangote
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Africa’s richest man and President, Dangote Group, Alhaji Aliko Dangote, has restated his promise to invest about $20 billion in the Nigerian economy in the next five years.

Dangote said this after receiving the 2016 African Business Leader award from a United States based non-governmental organisation, Africa- America Institute (AAI).

He said the money would go into projects ranging from

– Petroleum refinery,
– Petrochemicals,
– Fertiliser,
– Gas pipeline
– Backward integration in sugar and
– Rice production.

“Over the next few years, we will be investing nearly $20 billion in projects ranging from a petroleum refinery, petrochemicals,fertiliser, gas pipeline, and backward integration in sugar and rice production. These projects will create over 250,000 jobs and provide foreign exchange earnings and savings of $16 billion for the country and help diversify our economy.

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“Despite the current economic challenges, we will continue to scale up the value of our investments not only in Nigeria, but also across the entire continent, because we believe in Nigeria and Africa’s potential.

“We believe that it is only by sustained massive investments in infrastructure across the continent, supported with access to education, that Africa can reach its full potential,” he noted.

In recognition of his immense contribution to human capital development in Africa through the establishment of businesses across the African continent, the business guru was named and presented the award at a colorful ceremony held on the sideline of the United Nations Congress held in New York.


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