Tag: Alhaji Aliko Dangote

  • Dangote pays N5b premium to insurers in 2016

    Dangote Industries Limited paid over N5 billion as insurance premium in 2016 to insurance companies that insured its insurance portfolio, Chairman, Dangote Group, Alhaji Aliko Dangote has said.

    Dangote who was represented by the Group Chief Risk & Insurance Officer Dangote Industries, Dr. Adenike Fajemirokun,  spoke yesterday on the topic,  ‘Issues and Challenges of Consumers  in the  Management  of their  Insurance Portfolio,’ at the at the First Interactive Session with Major Consumers of Insurance Products and Services organised by the National Insurance Commission (NAICOM) held in Lagos.

    He however said some insurance firms are owing Dangote claims of over N400 million since 2012, and called on insurers  to  collaborate  with  the National Insurance Commission (NAICOM)  for  achievement  of  transformation  agenda.

    He said they also expect NAICOM to  increase regulation, while insurers should also self regulate.

    He said: “Insurers  need to  be more  proactive in studying  the  operations  of  consumers  and fashion out  generic  risk  solution  models. There should be  stronger  insurers  with  prompt  claims paying  abilities  and  consistent customer experience

    Meanwhile, Commissioner for Insurance, Mohammed Kari said NAICOM, being the regulatory agency of the saddled with the responsibility of superintending over the insurance sector in Nigeria has, as part of its primary mandate the protection of consumers (policyholders) – both corporate and individual.

    “Our gathering here today is indeed, one of the steps being taken by the Commission towards achieving that mandate. The timing for this session wascarefully chosen and considered appropriate in view of current changes in the public sector environment especially with the Executive Order on Ease of Doing Business issued to all Ministries, Departments and Agencies of Government.  Another reason is the yearnings shown by you, the consumers, for better services from insurance institutions among others.

    “We believe the principles Ease of Doing business order should permeate through the value chain of our sectoral service providers. We happily noted that at the same time insurance institutions have also engaged themselves on the need for them to come up with a service level agreements, detailing how they would improve service delivery  above what the law provide especially on timelines of task completion. I am happy to note here that they have so far agreed to shorten some tasks completion time of their major activities on the basis of self regulation and market agreements first between themselves and secondly between them and you the consumers of their services.  The Commission had signalled the issue of effective and efficient service delivery to consumers as a key priority with its establishment of Complaint Bureau Unit to deal with complains from members of the public against any insurance operator. This Unit had recently been upgraded and is headed by a Deputy Director to attend to aggrieved consumers.

    “ Many aggrieved consumers have continued to access this desk to register their complains with us. We advise you to take advantage of this desk and report your challenges to us and I assure you that any company found in default shall be compelled to do the needful.  It is pertinent to inform you that Stakeholder engagements like this will, going forward, form a major avenue of interactions with consumers.  We intend to hold this engagement bi-annually to foster a mutual relationship between the Commission, the insureds and the insurers. We believe such regular interface will afford us the opportunity to listen to your ideas and contributions towards making the industry as consumer friendly as possible”, he added.

     

     

  • Dangote, Otedola, others converge on Abuja for Dogara @ 50

    Dangote, Otedola, others converge on Abuja for Dogara @ 50

    The busy roads of Abuja parted like the Red Sea last Sunday as the blue blood of high society converged on the capital city for the beginning of the golden jubilee celebration of the Speaker of the House of Representatives, Hon. Aminu Dogara.

    The spectacle of a hundred thunderclaps would hardly compare to the majesty on display as power brokers vied with dons and doyens of the private sector for bragging rights in a novelty football match that kicked off the birthday festivities. It was a sight to behold as deities among men huffed, puffed and whooped like mere mortals, while other deep-pocket spectators momentarily lost their heads to the rush of the occasion.

    On hand to chair the august event was the Chairman of Dangote Group, Alhaji Aliko Dangote, ably assisted by the likes of Forte Oil boss Femi Otedola, Sam Iwuajoku and Oscar Onyema. Also in attendance were Senate President Bukola Saraki and Sokoto State Governor Aminu Tambuwal, among others. The proceeds of the novelty match will be channelled into helping internally displaced persons in the Northeast.

  • Dangote donates N500m to Kano fire victims

    Dangote donates N500m to Kano fire victims

    •Fund raising committee makes N1.2b

    Business mogul and Chairman of the Appeal Fund Raising Committee for victims of fire incidents in Kano markets, Alhaji Aliko Dangote, yesterday presented a cheque of N500 million to the committee.

    Governor Abdullahi Ganduje, who received the cheque at the Government House, said the committee raised about N1.2 billion for the victims.

    He said the Judicial Commission of Enquiry raised to assess the cost of damages ascertained the number of traders affected, and the extent of damages.

    Ganduje assured the traders that disbursement will begin soon.

    He added that President Muhammadu Buhari has sent a delegation to conduct a survey on the installation of solar panels in Sabon Gari market, a project partnering the government.

    Besides redeeming its N500 million pledge, the governor said the government would provide infrastructure in markets, including access roads, fire service outstations, police stations, malls to accommodate road-side kiosks, and iron tables for petty traders, to curb fire incidents.

    About a year ago, successive fire incidents occurred in five major markets – Farm Centre (GSM) market, Kurmi market, Yan Katako market, Singer market, and Muhammad Abubakar Rimi Market, otherwise known as Sabon Gari market.

    Donors include the state government (N500 million); Aliko Dangote (N500 million); Access Bank (N100 million); Femi Otedola (25 million); Dahiru Mangal (N25 million); Fidelity Bank (N20 million); Senate President Bukola Saraki (N10 million).

    Others are Speaker of the House of Representatives Yakubu Dogara (N5 million); 24 lawmakers from Kano (N12 million); Senator Barau Jubrin (N3 million); Senator Kabiru Gaya (N3 million); Tahir Fadallah (N5 million), Ishyaku Rabiu (N5 million); House of Assembly members (N5 million), among others.

  • Dangote donates N500 million Kano market fire victims

    Dangote donates N500 million Kano market fire victims

    Business mogul and chairman of the Appeal Fund Raising Committee for victims of fire incidents in Kano markets, Alhaji Aliko Dangote Monday in Kano presented a cheque of N500 million to the Committee as he redeemed his pledge to help alleviate the suffering of the traders.

    According to the state Governor, Dr. Abdullahi Umar Ganduje who received the cheque in Government House, the Committee has so far raised about N1.2 billion for the fire victims.

    He said the Judicial Commission of Enquiry set up to assess the cost of damages has already come up with the number of traders affected and the extent of damages they recorded.

    Ganduje assured the traders that very soon the Fund Raising Committee will commence distribution of the money to the beneficiaries.

    The Governor also informed the traders that President Muhammadu Buhari has sent a powerful delegation which has done a survey on installation of solar light in Sabon Gari market, a project he said was being carried out in conjunction with Kano state government.

    Apart from redeeming its N500 million pledge, he said the state government has commenced provision of needed infrastructure in Kano markets, including construction of access roads, fire service outstations, police stations, construction of malls to accommodate road side kiosks as well as provision of iron tables for petty traders to curb fire incidents.

    The Nation recalls that about a year ago, successive fire incidents occurred in five major markets in the ancient commercial city, including Farm Centre (GSM) market, Kurmi market, Yan Katako market, Singer Market, and Muhammad Abubakar Rimi Market otherwise known as Sabon Gari market.

    Among those who made donations for the fire victims include Kano state government, N500 million, Aliko Dangote, N500 million, Access Bank (N100 million), oil magnet, Femi Otudola (25 million), Dahiru Mangal (N25 million), Fidelity Bank (N20 million), Senate President, Bukola Saraki (N10 million), Speaker, House of Representations (N5 million), 24 House of Representatives from Kano  (N12 million), Senator Barau Jubrin (N3 million), Senator Kabiru Gaya (N3 million), Tahir Fadallah (N5 million), Ishyaku Rabiu (N5 million), Kano state House of Assembly members (N5 million), among others.

  • Jobs used to wait for us when we graduated –Ikoyi Club chair Babatunde Akinleye

    Jobs used to wait for us when we graduated –Ikoyi Club chair Babatunde Akinleye

    This week, Lagos elite club, Ikoyi Club 1938, under the chairmanship of Babatunde Akinleye, rolled out the red carpet to celebrate its 79th anniversary with style and splendor, notable only to the upper class in the society. From a simple press conference and the official cutting of the tape at the club’s rotunda, Ikoyi Club went on to host different competitive sporting activities, charity visit to Ikoyi Prison, a public lecture delivered by the Minister of Agriculture, Audu Ogbeh, with keynote address by Africa’s richest man Alhaji Aliko Dangote. Of course, the Special Guest of Honour, was the Lagos State Governor, Mr Akinwunmi Ambode, who was quite at home at the club. Babatunde Akinleye, a successful engineer and businessman, takes us into the ideals that set up the club, its culture of stability, and the lifestyle and character that ensures one retaining its membership, even within a family orientation.

    How has your early life influenced the person you are today?

    Early life, I believe to a large extent, determines what one becomes. It shapes you as a person. I come from a university environment background, having grown up in a university campus. My father worked for the University of Ife. I went to primary school in the staff school there in Ife.  My secondary school was Comprehensive School, Aiyetoro. I studied electronics engineering at the University of Ife and went back to do a Master’s degree in science and that was when it became Obafemi Awolowo University. So my values shaped me for being fortunate enough to grow up in an environment at a time when things were totally merit driven.

    For me, everything is on merit. It has nothing to do with who you are or whom you know and that shaped my values and influences that made me Chairman of Ikoyi Club 1938.

    Did you have your education in Nigeria?

    Yes, all through. I never studied abroad.

    But you must have grown up as a privileged child, so why didn’t you go abroad, because at a particular time, it seemed many young people were leaving Nigeria to school abroad?

    On the contrary, at the time I went to school, it was the people who were not doing well, who couldn’t get into university in Nigeria on merit; those were the ones that went abroad. If you were brilliant, and doing well, you would go to school in Nigeria! It is when you are not doing well and your parents needed to manage you, that is when you were shipped abroad to go to school. Things have changed. Now the privileged go abroad automatically because the educational system has regressed today. We hoped that we can contribute to improving the educational system in Nigeria. On a personal note, there is a foundation I am involved in, that is championing the cause of improving the quality of education, and making it available to the less privileged. That is one of the ways we can improve Nigeria.

    What is the name of the foundation?

    Bunmi Adedayo foundation

    Who was your role model, your mom or your dad?

    Both of them actually. But in different ways, my father was a very quiet but strong willed person. He encouraged me to think for myself and allowed me to make my decisions. My mother on the other hand was in a sense, very definite about the fact that you must do things properly. You must remember a child of whom you are. I wasn’t from a rich family. My parents were in the middle class.

    How easy was it for you to get employment after school?

    I graduated in1980, so it was easy. We had jobs waiting for us then, with a car loan and a brand new car. That is the challenge now. My generation and the generation after mine were the last generations to have lived in Nigeria where things worked. I know that 15 years ago, in my company, we were looking at buying cars and I heard my engineers who were graduates telling me that we should go and buy Tokunbo cars. They didn’t see why we should spend money on buying new cars for them. I had to explain to them why they deserve to buy a new car, and why they should not limit themselves to a Tokunbo vehicle. That is one thing Nigeria needs to address. People don’t have to underrate themselves and accept that they are not worthy of good things of life. Unfortunately, that is where Nigeria is.

    How easy was it for you to move up in life?

    I chose to work in a news company which was a startup for me. I was fortunate that I had a boss who trusted my competence and I was their first engineer. It also exposed me to learn and I worked there for seven years before I set up my own business. I have been running my own business now for 40 years.

    And what is your business called?

    It is called Logistics Science and Technology limited. We do electronic and information technology

    How did you get to become the Chairman of Ikoyi Club?

    I joined as a member in 1992. I played squash and snookers. About 20years ago, I was invited to serve in the sections committee of the board and basically I got interested in making the club function properly. For me, the defining thing is the fact that this is a place where things work. We are all entitled to the same thing; there is no member that is more important than the other. It is something I have come to believe in and I must pay my dues to make sure it remains so. You can’t want something to work and stay on the outside and expect others to do it.  I became chairman of snookers section in 2005 and after that I served on various sub committees of the club and became vice chairman of the club in 2012 and I became chairman of the cub in 2017.

    Having checked the role of honours, it is all the big names in the country that are there, people say it is an elitist club. Is it true?

    Ikoyi club 1938 has no apology for that. It is an elitist club because we look for people who have contributed significantly to the country. It is not about you being a rich person, it is your character and the kind of person you are that determines whether you are admitted or not. The honours role is a mixture of people who we feel have contributed to the society and we made them honorary members. Every single one of them has played a significant role in the history of Nigeria because that is the condition.

    Before you become a honourary member, the committee must consider you fit and they propose you to the AGM. The club as a whole will either vote that you become one or you don’t become. As a whole, it is the members that determine who becomes honourary members.

    What is your membership strength?

    We have about 7,000 members from different parts of the country.

    It is a family club and the members are elitist, so does that mean that their children are also elitist?

    The definition of elitist is people who do things in a manner that speaks to quality. We do things properly and we are well behaved.

    It means you are grooming special families here?

    We groom people with character and values here. The day you no longer have those characters and values, you are no longer a member of the club. You will be forced to change and behave properly. The club is not for every Tom, Dick and Harry to join. You must demonstrate good character and ability to add to the society.

    As chairman of the club, what roles do you play?

    The general committee is responsible for policies or monitoring of what the management is doing. As chairman, I chair that committee. My role is to make sure things are done properly in a manner according to the rules of the club.

    You said earlier that Ikoyi club is a microcosm of Nigeria, which means that people from other parts of the country are affected by what happens here?

    What I meant is that, all parts of Nigeria are well represented here. We have people from Sokoto, Enugu, Calabar, we have membership from all over the country. There are no characteristics or any part of Nigeria that is not represented here. And whatever any of our members does outside of the club, can affect his membership here. That knowledge makes each member to behave well.

    How does Ikoyi club impact on the society?

    When you are a member, if you misbehave outside it rubs off on the club. What happens is that when members know that they can be suspended or expelled, it cautions their behaviour.

    You lived in the university community, did that influence the choice of the woman you finally met and married?

    Not at all: After I graduated, I moved to Lagos. It was here in Lagos that I met her.

    Was it love at first sight?

    (Laughs) Yes, I believe it was love at first sight.

    What is your tenure as chairman of Ikoyi Club?

    It’s a year tenure and maximum of two tenures of one year each. I started in February this year and my first tenure will end in February next year. If I run again and I am elected, I will be able to do another year till February 2019.

    Is there anything you are presently doing differently?

    The only thing we promised is that we will run the club according to the rules and we are strictly enforcing the rules. What I expect to do for the club is to take the club back to its glorious days when people looked up to the club. We feel we have moved slightly away from it and we want to take it back there.

    How about chieftaincy titles, have you taken any, if not, why not?

    I haven’t and that’s simply because, I am not interested in it.

    Briefly, how would you describe yourself?

    I’m an engineer who believes in things being done properly and according to the rules.

    When you decided to be the chairman of Ikoyi Club, you must have nurtured some dreams to implement at the club. Have you achieved those dreams?

    Not yet. We are working to bring Ikoyi Club back to being a 5-Star Establishment held in high esteem by society as a whole.

    You are aging gracefully with lanky shoulders, and youthful look. What is your health secret?

    I try to do all things in moderation.

    There is also the philanthropic side of you, what motivates you to give?

    God has been good to me and he enjoins us to love everybody and treat them as we would treat him.

    Do you agree that you are a stylish person?

    I leave that to others to judge.

    Have you ever wanted to be someone else, or be in a different profession?

    No.

    If you are not what you are today, what else would you have loved to be?

    Nothing else I can think of.

    Any regrets so far?

    None.

    Do you feel fulfilled?

    I am still a long way to achieve that state.

    Any new hobby you have developed in recent times?

    I am a retired cricketer. No new hobbies. I read, travel, enjoy good music and I play snooker.

    At this time of your life, what would you say you value most?

    I value the love of my family and friends.

    What inspires you?

    Making others happy inspires me.

    Please tell us about your most memorable holiday?

    That was my wife’s 50th birthday celebrations. We went on a 10-day cruise to the East Mediterranean with family and friends numbering 45.

    What does success mean to you?

    Success to me is being fulfilled and having happy people around me.

  • Rice importation costs Nigeria 2 bn dollars annually- Dangote

    Rice importation costs Nigeria 2 bn dollars annually- Dangote

    Alhaji Aliko Dangote, President of Dangote Groups of Companies, says Nigerians consume over 6.5 million tonnes of rice annually, less than half of which is produced locally.

    Dangote said that on Wednesday during the inauguration of the Dangote Rice Out growers Scheme in Goronyo Local Government Area of Sokoto state.

    He expressed concern that the deficit arising from the importation of rice cost Nigeria over 2 billion dollars per annum.

    He said: “As agriculture remains an important sector in our economy, we plan to produce 1million tonnes of high-quality parboiled rice within the next three years.

    “This is by cultivating about 160,000 hectares of irrigable rice farmland in some selected states, thus making the commodity affordable to ordinary Nigerians.

    “Moreover, the out-growers scheme is committed to creating a significant number of jobs, increasing the incomes of small holder farmers and ensuring food security in the country.

    “This is by providing high-quality seeds, fertiliser and agrochemicals, as well as technical assistance on best agricultural practice to farmers.”

    The Project Director, Dangote Rice Ltd, Mr Robert Coleman said that the Sokoto operation was a demonstration phase meant to familiarise the farming community with the programme.

    “The phase is to familiarise the farming community through the training of extension workers and lead farmers as well as test modern technologies, ‘he said.

    ”In 2017, they will have 25,000 hectares to be cultivated by nearly 50,000 out growers, in addition to 260 jobs expected to be created by the end of the year.”

    Gov. Aminu Tambuwal called on the farmers to respect the agreement signed between the state and Dangote group to ensure that,” all products are directed to the real sectors of need.’’

    ”The coming of Dangote to invest in the state was as a result of the government’s sustained efforts toward inviting prospective investors to the state,” he said.

    Earlier, the Sultan of Sokoto, Alhaji Sa’ad Abubakar, commended President Muhammadu Buhari for diversifying the economy and urged Nigerians to pray for him.

  • Oil discovery in Lagos excites Dangote

    Oil discovery in Lagos excites Dangote

    The recent discovery of oil in Lagos in commercial quantity has been described as a good omen for the development of the oil and gas industry which Dangote refinery will benefit from.

    Speaking in his office in Lagos while receiving leaders of the League of African Development Student (LEADS), Mr. Devakumar Edwin, Group Executive Director of the Dangote Industries Limited said it was a good development that Lagos is now a proud oil producing state adding that it will further strengthen oil output from the country.

    According to Edwin, Dangote Refinery and Petrochemical would be more than willing to partner the state and the federal government in ensuring that the oil production from Lagos add value to the economy of Lagos and the nation at large.

    “We are very happy at the discovery of oil in Lagos. It is indeed a good and welcome development for us as a company. It will accelerate the growth level of the state and also be of immense benefits to the residents and the country at large. Not only will Lagos be regarded as an oil producing state and share out of the derivation fund, but Lagos will continue to be an invaluable partner to the Dangote Group with the Dangote Refinery in Ibeju-Lekki.”

    Edwin pointed out that though the crude oil prices may be unattractive at the moment, which has made major IOCs to slow down, “it did not mean that the oil and gas industry was devoid of development,” he said.

    The Dangote Group boss said, although it is just in its early phase, the Badagry oil find will be a lot more attractive for investments, when prices begin to rise at the international oil market.

    “The crash in the global crude oil price is not making it attractive to invest and make a sustainable investment. No attractive investments in deep water, but perhaps shallow waters. Oil majors are cutting down on their investments, and also retrenching, I will be surprised if people go in fast into Badagry. But, by and large, It is a welcome find, for when the prices begin to rise, we will begin to reap the benefit.”

    It would be recalled that the Dangote Group early last year ventured into oil and gas when it began the construction of the largest single industrial undertaking in the world, the Dangote Refinery and Petrochemicals.

    The project sited at the Free Trade Zone, Ibeju-Lekki, Lagos, sitting on over 2,630 hectres of land, an area 8 times larger than Victoria Island, Lagos, will have a refining capacity of 650,000 barrels of crude per day compared to a combined capacity of 445,000bpd of all currently existing government’s four refineries.

    When completed, the project is expected to meet the yearnings and aspirations of Nigerians who have been subjected to frequent acute scarcity of petroleum products and also save Nigeria over $7.5billion through import substitution.

    The entire project will cost the Dangote Group over $12billion with the refinery projected to be ready by first quarter of 2019 while the fertilizer plant will be ready early 2018.

  • Humanitarian crisis: FG to partner Rock Star artist

    Humanitarian crisis: FG to partner Rock Star artist

    *Famous Irish artist commends Buhari’s social investment programmes, transparency

    Vice President Yemi Osinbajo, on Monday said that the Federal Government will welcome a global partnership that would ensure a concerted and focused international response to the humanitarian crisis arising from the insurgency in the North-Eastern region of the country.

    He made the remark while receiving members of the ONE campaign led by the international Rock Star artist Bono, and Africa’s richest man, Alhaji Aliko Dangote and former UK Development Secretary Douglas Alexander, at the Presidential Villa, Abuja.

    They were at the State House to discuss the possibilities of a global partnership to address the crisis through international advocacy.

    In a statement by the Senior Special Assistant on Media and Publicity, Laolu Akande,  Osinbajo noted that it was important that they came to offer some partnership.

    He said: “This is great and we are pleased…Partnership is certainly the way to go.”

    According to him, no matter how prepared a country could be, handling the kind of crisis in the North-East with two million displaced people including children, as a single country “would be irresponsible.”

    He however said that a global partnership to address the situation should be coordinated and more focused on what is required to be done, for instance, in addressing the issue of malnourished children and not attempting to do too much things at once.

    Speaking earlier the Irish born artist Bono said he has visited some of the IDPs and said “we want to be useful to you,”

    He stressed that what he saw in the region was “deeply disturbing.”

    Bono also commended the social investment programmes of the Buhari administration saying “we have heard of the incredible plans, the social investment funds,”

    He said that the level of transparency already seen in the administration is very exciting and transforming.

    The ONE campaign is an advocacy organization with more than seven million people around the world taking action to end extreme poverty and preventable diseases especially in Africa.

    It has on its board people like Mo Ibrahim, Bill Gates, Michael Bloomberg among others. It was founded in 2004.

  • Sabon Gari market: Dangote heads fund raising panel

    Sabon Gari market: Dangote heads fund raising panel

    President of Dangote Group of Companies, Alhaji Aliko Dangote on Monday in Kano, assured Governor Abduallahi Umar Ganduje to go all out to meet those that matter to raise funds for  victims, whose goods was recently consumed by fire outbreak at the Abubakar Rimi market, so as to cushion the pains of the fire disaster.

    The business mogul, who is the Chairman of a Committee, just inaugurated by the Kano State Government to raise funds for victims of the Abubakar Rimi market, alongside four other different markets spread across the state, whose goods and property were also destroyed, promised that the committee will endeavor to complete its task within the six weeks stipulated time frame for members of the committee to complete its assignment

    His words: “We will first of plan before we start holding meetings because the most difficult aspect is  to plan how to raise money, as well as how to coordinate all our activities, which I believe will end within the next one week.’’

    In view of its enormous task, Dangote requested all members of the committee to readily make available all their direct mobile phone numbers, so as to be summoned for meetings as soon as possible.

    According to him, in the process of carrying out their mandate, they will also need the assistance of the governor in contacting his counterparts for assistance for a helping hand, just as he pointed out that Governor left out the National Assembly in his determined efforts to raise funds for the fire victims.

    However, the Chairman assured Ganduje that they will not disappoint him, noting that members of the committee are people of dignity and repute, just as he also prayed to Almighty Allah to prevent incessant fire disasters in Kano.

    Also, he promised that the report of the committee will be submitted within six weeks, so as to quickly embark on raising funds, adding that while compiling the report, they will fix a date for the fund raising, whether in Kano or in Abuja, but most importantly it’s better to hold the fund raising in Kano.

    Apart from that, Dangote pointed out that the committee members must unanimously agree on where to open a bank account, where the funds raised would be deposited.

    Earlier in his address, Governor Ganduje disclosed to members of the committee of the efforts the state Government is making toward resettling the displaced traders from the market.

    Also, he disclosed that as a matter of priority, the State Government constituted a Judicial Commission of Enquiry under Justice Wada Umar Rano to identify the actual cause of the fire, as well as to advice government on the necessary action to adopt.

    The essence of the fund raising committee, according to the governor is mainly to assist and raise funds to help the victims, adding that 7,000 stalls have been identified to have been razed by the fire.

    To this end, the State Government has also decided to underwrite at a cost of  reconstructing the stalls as a cost of N10,000 per shop, bringing the total amount to N70 million, so as to promptly resettle the traders.

    All the traders, the governor said will be given one year grace period, at the end of which they will start paying the owners of the shop.

  • Nigeria to be self-sufficient in sugar, rice, others by 2019, says Dangote

    Nigeria to be self-sufficient in sugar, rice, others by 2019, says Dangote

    [dropcap]A[/dropcap]frica’s richest man and President, Dangote Group, Alhaji Aliko Dangote yesterday said Nigeria would be self-sufficient in rice, sugar and other commodities in the next four years.

    He said this in Abuja at a meeting with the United Nations’ Secretary-General, Ban Ki-moon, businessmen and some philanthropists.

    Dangote, who spoke against the backdrop of his investment in the economy in the nation, added that Nigeria would soon become the largest exporter of petroleum products and fertiliser.

    The business mogul said he would not want to be known as the richest man alone, but would also lend his voice and other capacity to better the lots of Nigerians.

    He commended the steps being taken by President Muhammadu Buhari’s administration in addressing the challenge of corruption facing the nation.

    “War on corruption will enable government to have better outcome on any naira or dollar earned or spent,” he said.

    He said the government was taking measures to diversify the economy by promoting local production of essential commodities.

    According to him, this will enhance the growth of the economy in job creation and preservation of scarce foreign exchange.

    He said the business community in Nigeria would focus more on developing the non-oil sector to support the government efforts in diversifying the economy and reduce reliance on importation of goods.

    “We are committed to improving the economy in a responsible and sustainable way,” he said.

    Earlier, the UN scribe urged the businessmen to work towards the achievement of the Sustainable Development Goals (SDG) in Nigeria.

    He said the solution to the challenges facing Nigeria, which was not limited to the nation, should be all inclusive, stressing that no country could solve its problems alone.

    “No country or institution can solve its challenge alone; we must harness the power of the private sector and civil society for share of solution to the complex challenges.

    “We need to build all inclusive global partnership with the future of accountability and for share of responsibility; we must leverage on our comparative strength, capacities and resources to achieve meaningful result,” he said