Aliko Dangote, chairman of the Dangote Group, has announced that the company is poised to become the world’s largest producer of fertiliser by 2028.
Mr Dangote made this statement during the Imo Economic Summit, organised by the Imo government, in Owerri on Thursday.
The business magnate and Africa’s richest individual remarked that the time has come for Africans to embrace greatness and secure their position in global business.
He revealed that the Dangote Group plans to increase its urea production capacity from the current 3 million tonnes to 12 million tonnes by 2028, aiming to lead global fertiliser production.
He urged Nigerians and Africans to invest locally, asserting that “only a local investor can persuade a foreign investor to invest in their home country.”
“I recently announced our intention to double investments domestically, targeting 1.4 million barrels per day, because there is no place like home.
“Africans must invest locally, as this is the most effective way to encourage foreign investors to invest in Africa,” he stated.
He expressed gratitude to the government led by President Bola Tinubu for its policies and called for increased investment in electricity generation.
Former president of Mauritius, Ameenah Gurib-Fakim, remarked that with a significant youth population and 30 per cent of the world’s mineral reserves located in Africa, the continent has the potential to build a hopeful future.
“It is time for Africa to take her destiny into her own hands,” she asserted.
The summit was officially opened by President Bola Tinubu, represented by Vice President Kashim Shettima.
Also in attendance was former Secretary-General of the United Nations, Ban Ki-moon.
