News hotlines: 08111813019, 08025868561
Email: firstname.lastname@example.org, email@example.com
Barely one week after sealing a multibillion naira deal with government of Kano State in building solar power plant to run industries, leading African industrialist and President, Dangote Group, Alhaji Aliko Dangote, on Monday revealed new investment plan worth $450m in agricultural development in Niger State.
The scheme will run in the next three year.
Giving the hint during the ongoing 2017 Niger State Investment Summit in Minna, Dangote said the funds would be used in establishing a large scale rice processing mill for over 200, 000 metric tonnes of paddy rice.
While revealing further that a state-of-the-art fully integrated sugar refining industry would also be established within the period, he averred that “The Dangote Group is committed to invest around $450m over the three next years to establish a large scale rice processing mill for out growers”.
“Our company is also establishing a state of the art fully integrated sugar industry involving the development of over 30,000 hectares of sugar cane plantation and the production of about 500, 000 metric tonnes of refined sugar.
“We are very excited about these investments and look forward to kick-starting this mutually beneficial partnership with the government and good people of Niger State,” he said.
Represented by Alhaji Mansur Ahmed, Dangote disclosed that the company also planned to invest over $1bn in agricultural production and processing of selected commodities like sugar, rice and tomatoes across the country.
He said Niger has become the destination of choice for investment in the agricultural sector given its rich and vast arable land and Dangote Group was poised to leverage on that toward a virile agriculture based economy.
In his further submission, Dangote said the group would also continue to engage governments at the federal and state levels where there was great potential to explore investment opportunities.
Earlier in her remarks at the summit, the Commissioner for Investment, Commerce and Industry, Mrs Ramatu Yardua said the aim of the summit was to market the state as an investment destination in agriculture considering its enormous potential which was largely untapped.
She explained that agriculture remains key to moving the country out of recession, and “What we are doing today is an indication that Niger State was committed to creating a conducive and enabling environment for serious investors”.
Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.