Dangote Urges Africans to leverage on manufacturing over raw materials export

President of Dangote Industries Limited (DIL), Aliko Dangote, has called on Africans to leverage on internal strengths and global opportunities to fill existing gaps as well as adopt a deliberate re-orientation toward industrialisation of her manufacturing sector as a panacea against the current global economic instability.

Dangote encouraged operators in the manufacturing and industrial sectors across the continent to embrace a fundamental shift in mindset and develop robust regional value chains and deepen intra-African trade as inward solutions to boost overall development across the continent.

The renowned entrepreneur who noted that current geo-political tensions and trade wars have caused major economies to reevaluate their traditional trade partnerships with a view to diversifying their supply chains, also urged African exporters to benefit from the current process to fill the gap by competitively supplying the required products.

Dangote who was represented by his Special Adviser and Representative, Ahmed Mansur at the ongoing 4th Intra-African Trade Fair holding in Algiers thanked the organisers for not only for inviting him and giving me the opportunity to speak, but also for going a step further by dedicating the day to his organisation, Dangote Group.

He affirmed that this year’s theme, “Gateway to New Opportunities,” resonates deeply as a powerful reminder of the huge potential and prospects that abound across the African continent.

He acknowledged that for too long, Africa’s resources have been exported as primary commodities in their raw and unrefined state with limited domestic processing or beneficiation.

“There must be a fundamental shift in mindset and a deliberate re-orientation toward industrialisation and the development of Africa’s manufacturing sector. While this was always necessary in the past, it is even more urgent today, given the alarming rise in youth unemployment, and the need for sustainable, inclusive growth,” he added.

President of Dangote Industries Limited pointed out that current geo-political tensions and trade wars have caused major economies to reevaluate their traditional trade partnerships with a view to diversifying their supply chains.

According to him, “African exporters could benefit if they can fill the gap by competitively supplying the required products. Furthermore, global instability has encouraged African nations to look inward and actively pursue greater regional self-reliance. This inward focus can catalyse the development of robust regional value chains and significantly deepen intra-African trade.”

The business tycoon reiterated his firm’s pride in its Afrocentric posture, which he said is driven by an unwavering commitment to the continent’s growth and industrial transformation.

He revealed that this posture made the DIL to go the extra mile to add value to limestone and created the largest cement company in sub Saharan Africa with an aggregate cement production capacity of about 52MMtpa across 10 countries.

“Similarly, our 3MMtpa urea plant has contributed to the attainment of fertiliser self-sufficiency. Nigeria, once solely reliant on imports, is now a net exporter of granulated urea to destinations in Africa as well as to South America, North America and Europe.

“More recently, we have witnessed the commencement of operation of Africa’s biggest oil refinery which is also the world’s largest single-train facility, with a capacity of 650kbpd. This landmark project is gradually reducing the region’s long-standing dependence on imports of refined petroleum products, particularly from Europe, while also generating surplus for export to global markets. As Africa becomes more self-sufficient in energy it should reduce our vulnerability to external shocks and supply disruptions.

“Africa’s potential and prospects are immense. However, this potential will only be fully actualised if individual nations take deliberate steps to improve their business environment. Unlocking new economic opportunities requires the implementation of appropriate policy reforms, investment in infrastructure, and attractive sector wide incentives to facilitate the inflow of private capital,” Dangote emphasized.

The Dangote Special Day drew admirers, various attendees, various Business Units of the conglomerate such as Dangote Cement, Dangote Sugar, Dangote Salt (NASCON), Dangote Fertiliser, Dangote Polypropylene, and Dangote Packaging which did presentations and urged for greater collaboration among trade partners and manufacturers across Africa for the development of the continent.