Leading industrialist and President, Dangote Group, Alhaji Aliko Dangote, has linked his blossoming success stories in commodity and manufacturing spaces to the strategy of backward integration.
In his presentation at a public conversation during the Financial Times’ 4th Annual Africa Summit at Claridges, London, United Kingdom, Dangote said the strategy had worked and was working, and urged other African nations to likewise to reduce the continent’s import bill.
The discussion was moderated by the Editor-in-Chief of Times, Lionel Barber,
Other African dignitaries at the dialogue include the Vice President Yemi Osinbajo; Congolese presidential hopeful, Moise Katumbi; and about 300 business leaders across the world.
Dangote highlighted the statistics that compelled him to key into the strategy implemented by the Federal Government, saying his ultimate ambition was to see an African nation that would stop importation totally at the end.
According to him, “We are not going to import anything any longer. In Nigeria, we are learning how to produce the entire value chain.”
Business Hilights recalls that Dangote Cement alongside Lafarge Africa championed the trending success story of cement backward integration today in Nigeria during the last administration of President Goodluck Jonathan.