By Adedapo Adesanya
President Muhammadu Buhari commended Dangote Industries Limited, owned by billionaire businessman, Mr. Aliko Dangote, for supporting the country’s economy through job creation.
Speaking at the commissioning of the Dangote fertilizer plant in Lagos on Wednesday, the President said along with companies like Dangote that Nigeria’s reliance on imported products in the agricultural sector will soon be a thing of the past. .
The Dangote fertilizer plant has an installed capacity of 3.0 million metric tons of urea per year and according to Mr. Buhari, the facility will further advance the country’s drive to achieve self-sufficiency in production. food, job creation, increased foreign exchange inflows and accelerated economic growth.
“This new factory is a renewed testament to the widely recognized patriotism of Alhaji Aliko Dangote and the leadership of Dangote Industries Limited. It also demonstrates their commitment to the socio-economic development of our country and the well-being of our people.
“The group’s investment in integrated cement plants, spanning the value chain from quarrying to bagging, has effectively ended Nigeria’s dependence on imported cement products.
“Along with several other subsidiaries, Dangote Industries Limited has created thousands of jobs across Nigeria. It is the second largest employer of labor in the country, after the Federal Government.
“It is very pleasing because job creation by private sector operators is vital for security as it takes thousands of young people off the streets,” President Buhari said.
Regarding the other benefits of the factory, the President said he was delighted that with the start of exports to other countries including the United States, India and Brazil, Nigeria is already earning considerably in foreign exchange. thanks to the surplus production and export of the plant.
He noted that the commissioning of the plant has created huge opportunities in the areas of job creation, trade, warehousing, transportation and logistics, which, in turn, would create significant wealth, reduce poverty and help secure the nation’s future.
“In the agricultural sector, another focal point of our economic policy, we expect a boom as fertilizers are now readily available in greater quantity and better quality.
“Many Nigerians who hitherto practiced subsistence farming due to unavailability of necessary inputs can now venture into farming as a business.
“We expect the rise of a new breed of agripreneurs who will add value to agriculture and make the nation self-sufficient in food production,” he said.
He took the opportunity to reassure Nigerians that his government is focused on creating an enabling environment for private sector development, pledging continuity in improving infrastructure, power and sanitation. security, as well as the promulgation of relevant laws and regulations to stimulate investment in the economy.
“We are collaborating with the private sector, through a tax credit scheme, in the rehabilitation of roads across Nigeria under Presidential Decree No. 7.
“As we know, good roads help facilitate the movement of goods and services across the country, thereby reducing the cost of doing business and improving productivity.
“We are also rehabilitating our railway lines and building new ones to lighten the load on our roads and create more efficient multimodal transport networks,” he said.
“I look forward to returning to inaugurate the refinery and petrochemical plant later this year.
“Projects of this magnitude and complexity require the support and collaboration of many people and organizations. I am grateful to all of them.
“In particular, I would like to commend the Central Bank of Nigeria, Development Finance Institutions and local and foreign commercial banks who have supported the investor to bring these projects to fruition,” the President said.