Dangote To Invest $600M In Sugar Production

Aliko Dangote
Billionaire mogul Aliko Dangote

AFRICANGLOBE – Dangote Group’s president , Alhaji Aliko Dangote, has pledged to invest over $600 million in the production of sugarcane in Kwara, Kebbi and Sokoto states of Nigeria.

The business mogul said this on Tuesday during a courtesy visit to Kwara Governor Abdulfatah Ahmed at the Government House in Ilorin.

Dangote sugar is targeting about 65 million tonnes of sugar which it hope will produce about one million jobs. It has identified Patigi local government area of the state for sugarcane plantation with the hope of beginning the project before the end of the year.

In Sokoto, Dangote told the state Governor, Aliyu Wamakko, that his company would invest about N180 billion ($1.1m) to build Sugar factory in Sokoto state in four years. The factory would have a production capacity of one million tonnes of sugar per annum and it is expected to generate about 150,000 jobs in the state.

Dangote explained while lamenting the amount of money wasted on the importation sugar that he plans to replicate what Dangote Cement has achieved in the cement industry.

He emphasized that in the next five years his sugar subsidiary would produce and grow two million tonnes of sugar, as part of efforts to ensure that Nigeria is self-sufficient in consumables instead of depending on importation.

In his response, Kwara State Governor, Abdulfatah Ahmed gave the assurance that his administration would create enabling environment for would-be investors to operate, adding that , Nigeria would never get it wrong if it invests in agriculture as the northern part of the country was endowed with arable soil which could be utilized for agriculture as a foreign exchange earner for the nation.


By: Oluwabusayo Sotunde