Dangote Sugar Refinery Plc to end raw sugar importation, invests over $700m
Dangote Sugar Refinery Plc has invested over $700 million to boost local sugar production and eliminate raw sugar imports. Speaking at the 14th Gateway International Trade Fair, Dangote Cement’s Regional Director, Tunde Mabogunje, highlighted the company’s commitment to land acquisition, infrastructure, and community development. Additionally, the Dangote Group has begun exporting fertilizer to multiple global markets.
Aliko Dangote in an effort to end raw sugar importation, said Dangote Sugar Refinery Plc has invested over $700m in sugar production.
This was disclosed during the ‘Dangote Special Day’ at the ongoing 14th Gateway International Trade Fair in Abeokuta, Ogun State.
Dangote Sugar Refinery Plc is accelerating its Sugar Backward Integration Plan to boost local production.
Tunde Mabogunje, Regional Director, Lagos/Ogun of Dangote Cement, who represented Aliko Dangote stated thus:
“We are actively executing the Sugar Backward Integration strategy and have committed over $700m to land acquisition, machinery, infrastructure, manpower, community relations, and corporate social responsibility initiatives to ensure Nigeria ends raw sugar importation.”
“The group has commenced the export of fertiliser to countries including France, the United States, Mexico, Uruguay, Argentina, and several African nations such as Benin Republic, Zambia, and Cameroon”.
“As a conglomerate driving Nigeria’s economic diversification, we will continue to explore opportunities in the manufacturing sector to replace imports, create jobs, and support economic growth”
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Source : Business Hallmark
