BY MICHAEL EBOH

The management of Dangote Group has said that it will invest over N900 billion in strategic areas of the Nigerian economy within the next 12 months.

According to a statement by the company, the planned investment was disclosed at a meeting with the Federal Government of Nigeria, through the Ministry of Trade and Investment and the organized private sector.

The Minister of Trade and Investment, Mr. Olusegun Aganga, had said that the government conducted a survey of a few companies, where it discovered that non-oil local companies are planning to invest about N1.52 trillion in the economy in the next one year

The statement signed by Mr. Tony Chiejina, Group Head, Corporate Communications, Dangote Group, said that of the total amount, the President, Dangote Group, Alhaji Aliko Dangote, will invest N900bn in the production of fertilizer and petro-chemicals.

To this end, the Federal Government has described Dangote group as the highest private sector investor in the country, with an investment portfolio, running into billions of dollars.

Aganga, said recently, that the Federal Government would as a matter of necessity put in place a platform to recognise the contributions of entrepreneurs like Dangote and the need to encourage them to do more so that other business men would be interested in the development of the nation’s economy.

Aganga, who was impressed by the level of work on the Ibese plant and the planned commencement of local cement production by the company, after a tour of the Plant recently, disclosed that the Federal Government would as a matter of necessity put in place a platform to recognise the contributions of entrepreneurs like Dangote and the need to encourage them to do more so that other business men would be interested in the development of the nation’s economy.

He said, “I must say that much has been achieved by Dangote Cement in an attempt to meet local demands, and government would like to replicate these exploits in the production of Rice, Sugar and Wheat.”

According to the survey, said Aganga, the manufacturing, real estate, agro-allied and automotive sectors will get  N1.06 trillion; N198.5 billion, N67.8 billion and N45 billion investments respectively, while  tourism, trade and commerce, transport and others will make up the rest.

He further disclosed that other planned investment include: Nigerian Bottling Company Plc – N45 billion, Guinness Nigeria Plc – $225 million, Odua Investment Company Limited – N37 billion and Chairman, Ikeja Hotels Plc, Mr. Goodie Ibru – $6 million among others.

Aganga commended the local investors for their confidence in the Nigerian economy.