Oga Presido of the Pan-African Conglomerate, Dangote Industries Limited (DIL), Aliko Dangote, don call for more investments for Africa to make e grow and develop fast.
As e dey yarn for the biggest gathering of private sector leaders for Africa, the Africa CEO Forum for Kigali, Rwanda, Dangote stress say recent trends show say Africa na the future center of global progress.
The business big man warn against the continent over-dependence on raw material exports, but e dey advocate for strategic investments wey go push local industries.
E dey beg African countries make dem no just dey export raw materials but to nurture local manufacturing abilities so as to reduce dependence on imported consumer goods.
“Looking ahead, Africa holds the key to its greatness. I’m not merely investing money but dedicating my entire being to this cause. In Africa, possibilities are boundless. It is like a scratch card; you won’t know what is inside unless you scratch it. For some of us, despite the boom of the capital market in the US, we didn’t really participate, rather we invested in Africa,” he confirm.
For the past seven years, Dangote talk say e don put over $25 billion into strengthening Africa self-sufficiency for important sectors like fertilizers, petrochemicals, and refined products. E come talk say the big Dangote Refinery, wey get capacity of 650,000 barrels per day, dey ready to meet the growing demand across West Africa, Central Africa, and South Africa.
“We don finish our refinery; e big well well. We believe say na wetin Africa need. If you look the whole continent, na only two countries no dey import petroleum products, na only Algeria and Libya but the rest dey import. We need to change that, so we no just dey produce raw materials but finished products and create jobs. One of the things we need to know as Africans is that when we produce raw material and export them while others dump finished products on our continent, what we are doing is that we are importing poverty while exporting jobs. We must change the narrative.
“We just commission for February. We dey produce jet fuel and diesel. By next month, we go dey produce gasoline but wetin that one go do na say e go fit take most of the African crudes wey dem dey produce and be able to supply refined products no be only for Nigeria because our capacity too big for Nigeria. E go fit supply for West Africa, Central Africa and South Africa. This na the first phase, we dey go the next phase by next year,” e talk.
As e dey express concern over Africa wahala of exporting raw materials and importing finished goods, Dangote talk say e dey very important to change this trend. E dey vex say exporting raw materials while importing finished goods dey continue cycle of job loss and poverty.
The Africa CEO Forum, wey dem start for 2012, na platform where African decision-makers dey connect with each other all the time, as well as with international investors and institutions wey dey operate for the continent.
E don turn to organisation wey dey dedicated to facilitating business for Africa through the exchange of ideas and experiences.
Source: Prime 9ja Online Pidgin: Dangote Yarn Say Africa Need More Investments