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Diversification the success secret of Dangote group—Dangote reveals

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After decades of business expansion from one sector to another, the President of Dangote Group, Alhaji Aliko Dangote, has opened up on the core secret of his conglomerate.

Speaking at the during the Group’s Special Day at the just concluded 2017 Lagos International Trade Fair (LITF), he made it clear that diversification formed the pivot of his business sense.

He also noted that the idea is vital for economic growth and social development given the country’s resource endowments in every sector of the economy.

According to him, the best way to go for all players in the nation’s Organised Private Sector (OPS) segment is to maintain a strong commitment to the Federal Government’s diversification policy so as to foster sustainable economic growth, more so now that Nigeria has exited recession.

Represented by the Executive Director, Stakeholders Management and Corporate Communications, Dangote Group, Ahmed Monsur, the Africa richest man averred that his Group is already working on its 10-year plan of not only becoming the largest conglomerate in Africa, but also one of the top 20 in the world.

Dangote said “We at Dangote have remained committed to a diversified economy, particularly with the resources God has blessed Nigeria with which has led us to be involved in every sectors of the economy through our products.

“We are committed to this because we believe that is what the Nigerian society needs so that our economy can grow because we feel if the economic growth is basically a custom of value addition. If you are not adding value to your economy or your output that means you are stagnant”.

In her goodwill message, President, Lagos Chamber of Commerce and Industry, (LCCI), Dr. Nike Akande, commended Dangote Group for its commitment towards the growth of the economy through diversification, and added that beyond the OPS efforts; much is still needed from the government in terms of providing conducive environment for business to grow.

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