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Dangote plans $20bn investment in Agric, others

As part of new efforts to support the federal government in the diversification drive, the Dangote Group has announced plans to invest $20bn in Nigeria over the next five years.

The Group Executive Director, Stakeholder Management & Corporate Communications, Dangote Group, Mansur Ahmed, revealed that the group is now focusing on agricultural expansion in the areas of commercial rice production and sugar cane plantations in Jigawa, Kwara, Kogi, Kebbi and Adamawa states.

According to him, the company has acquired 12,000 acres of land in Adamawa and arrangement is on to acquire more in other parts of the country, including the South East and South South.

Ahmed noted that the policy trust of the present administration is to reduce importation and achieve food security, adding that it was only necessary for the group to key in to the agenda in line with its corporate responsibility.