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We Need To Take Diversification Of Nigeria’s Economy More Seriously – Dangote

Aliko Dangote


Widespread enterprise mogul and the Chairman of Dangote Group, Aliko Dangote has referred to as for extra seriousness in dealing with diversification of Nigeria’s financial system.

The tycoon disclosed this on Wednesday whereas addressing contributors at a consultative spherical desk organised by the Central Financial institution of Nigeria (CBN), in Abuja.

Dangote lamented that he has been listening to about diversification of Nigeria’s financial system since way back to 1979 however now’s the time to take issues extra severely.

“Diversification of this financial system is essential. Since I received to Lagos in 1979, individuals have been speaking about diversification of Nigeria’s financial system.

“I believe we actually want this time round, be extra critical in order that we don’t simply hold speaking about diversification. It’s potential however individuals are probably not specializing in it.

“We have to discover a resolution as to how one can make our nation to be producing issues that we eat,” he stated.

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Suggesting methods of diversifying the financial system, Dangote stated extra consideration needs to be paid to the agriculture and manufacturing sector.

“Manufacturing creates a lot of jobs and transforms countries. These are the areas I think we really need to focus on,” he stated.

Dangote additionally suggested that extra consideration needs to be paid on the native market to spice up exportation.

In accordance with him, “We import almost every single thing that we consume in Nigeria. We need the sales industry.”

Is Diversification Unimaginable?

Dangote dismissed the assumption that the diversification of Nigeria’s financial system is unimaginable.

He pressured that it may be realised by means of a joint effort of entrepreneurs and the Nigerian authorities.

Entrepreneurs in keeping with Dangote have a task to play in diversification of the financial system by leaving their consolation zones and becoming a member of palms to spice up the manufacturing sector.

The function of the Nigerian authorities, amongst different elements, Dangote stated is to scale back the price of doing enterprise and make use of constant financial insurance policies.

Dangote additionally highlighted efforts which have been put in place by his organisation to diversify the financial system.

He revealed that Dangote Cement has put in place efforts to make sure that “Nigeria will be the highest exporter of cement in Africa,” and in addition by the tip of this 12 months Dangote group will be sure that Nigeria “will be able to produce 1million tonnes of rice.”

He additionally spoke regarding the oil sector – “On petroleum products by the time we start our refinery, Nigeria will be the largest exporter of petroleum products in Africa.”

“So, you can see that yes it is possible to diversify the economy,” Dangote concluded.

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