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Nigeria: We have invested over $25 billion in oil, cement and sugar in 7 years – Dangote

Posted on by darion

Africa’s richest man, Aliko Dangote, has revealed that in the last seven years, his business conglomerates have invested over $25 billion in Nigeria in sectors such as oil and gas, cement and sugar.

Dangote made this statement while speaking on the sidelines of the recently concluded 79th United Nations General Assembly (UNGA 79) in the US.

The business tycoon said this investment is to signal to others that it is possible to invest in Nigeria and, by extension, Africa.

“We need to tell them that there are a lot of things happening in Africa and there are no limits. Yes, of course, there are a few issues here and there, but they can be resolved,” Dangote said.

Additionally, Dangote stated that his dream is to make Africa self-sufficient by reducing the continent’s dependence on imported goods and services.

He also expressed his desire to be remembered as someone who helped shape Africa’s future, rather than simply as the richest man on the continent.

It will take a long time to find an oil replacement

Aliko Dangote also shared his perspective on the transition from fossil fuels to renewable energy, noting that it will take a long time to completely transition away from oil.

He said that while the transition to renewable energy is inevitable, current challenges require Africa to meet its electricity and energy needs from resources such as natural gas and coal.