Economy

Buhari says, the$2.5bnfertilizer plant is a testament to the widely acknowledged patriotism of Aliko Dangote 

President Muhammadu Buhari on Tuesday commissioned the Dangote Fertiliser Plant in the nation’s bid to attain self-sufficiency in food production and create more jobs for its citizens.

He inaugurated the multi-billion dollars facility sited in Ibeju-Lekki, Lagos. In his speech before commissioning the facility, President Buhari was delighted that the plant would further advance his administration’s drive towards achieving self-sufficiency in food production in the country.

“I commend the Chairman, Board, and Management of Dangote Industries Limited for their business initiative in building this plant to reduce our dependence on importation of fertiliser, create jobs on a massive scale, increase the inflow of foreign exchange and accelerate economic growth,” he said.

“This new plant is a testament to the widely acknowledged patriotism of Aliko Dangote and the leadership of Dangote Industries Limited. It also demonstrates their commitment to the socio-economic development of our country and the wellbeing of our people.

“I am confident that the investment in this plant will replicate the group’s earlier exploit in the cement sector where Dangote Cement holds the enviable record as our continent’s largest cement producer with footprints in 10 other African countries. The group’s investment in integrated cement plants, spanning the value chain from quarry to bagging has effectively ended Nigeria’s dependence on imported cement products.”

According to the President, Dangote Industries Limited, along with several other subsidiaries, has created thousands of jobs across the country.

He described the company as the second biggest employer of labour in Nigeria after the Federal Government, stressing the importance of job creation by private sector operators to national security.

Nigeria, President Buhari stated, also stands to gain extensively in earnings of foreign exchange from the excess production and export from the plant.

“I am informed that you have already started exporting to other countries, including the United States, India, and Brazil,” he said. “The coming on stream of the plant is creating huge opportunities in the areas of job creation, trade, warehousing, transport, and logistics.

“This will create significant wealth, reduce poverty, and help in securing the future of our nation. In the agriculture sector, another focal point of our economic policy, we expect a boom as fertiliser is now readily available in greater quantities and better quality.

“Many Nigerians who hitherto practised subsistence farming because of the inability of necessary inputs can now take up agriculture as a business.  We expect the rise of a new breed of agro-preneurs who will add value to farming and make the nation self-sufficient in food production.”

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