Aliko Dangote, president of Dangote Group, says the conglomerate’s revenue base will hit $30 billion by 2020 — a feat he would have considered impossible 10 years ago.

The President of Dangote Group, Aliko Dangote, has said the current effort of the Federal Government at diversifying the economy to an agriculture-centered one remains the viable solution to creating a healthy economy.

Dangote who was speaking at the weekend in his office in Lagos during a meeting with some businessmen from Asia, said it was because of his belief in the government’s approach at re-energising the economy to make it export-oriented that made him to step up his investment in agriculture, especially in the area of food sufficiency.

Dangote said Nigeria had wasted so much foreign exchange importing food that ordinarily should be produced locally and even exported, and that until a new approach at redirecting the economy from import-dependent to an export one, which the present government was leading, no meaningful changes could happen.

He said, “We have invested massively in rice, sugar, dairy products and tomatoes. Our rice out grower scheme will produce rice by next year that reduces our rice import to nearly zero because Nigeria imports more than half of the rice it consumes. We have expanded our sugar operations in Tonga, Nasarawa State, in addition to the Numan sugar project where sugarcane is cultivated for raw sugar production that will be refined.”

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