How Nigeria’s dependence on imported products will end soon ─Presidency

*President Muhammadu Buhari says recent activation of the $2.5billion new Dangote Fertilizer Plant, in Lagos, promises to advance Nigeria’s drive towards achieving self-sufficiency in food production, job creation, increased inflow of Foreign Exchange, and accelerated economic growth

Isola Moses | ConsumerConnect

President Muhammadu Buhari has declared that Nigeria’s wholesale dependence on imported products in the agriculture sector of the economy will soon be a thing of the past.

President Buhari stated this development in his address at the inauguration of the $2.5billion new Dangote Fertilizer Plant with an installed capacity of 3.0 million metric tonnes of Urea per annum Tuesday, March 22, 2022, in Lagos.

The President further noted that the plant would advance Nigeria’s drive towards achieving self-sufficiency in food production, create jobs, increase the inflow of foreign exchange and accelerate economic growth.

Buhari commended the Chairman, Board and Management of Dangote Industries Limited for their business initiative in conceptualising and building this plant, which is regarded as the second-largest in the world.

The Nigerian President expressed confidence that the investment in this plant will replicate the Group’s earlier exploits in the cement sector, where Dangote Cement holds the enviable record as our continent’s largest cement producer, with footprints in ten other African countries.

Buhari as well noted: ‘‘This new plant is a renewed testament to the widely acknowledged 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.”

He added: ‘‘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.

‘‘Along with the several other subsidiaries, Dangote Industries Limited has created thousands of jobs across Nigeria. It is the second biggest employer of labour in this country, after the Federal Government.

‘‘This is very pleasing because job creation by private sector operators is vital to security as it takes thousands of youths off the street.”

Regarding other benefits of the plant, President Buhari expressed delight that with the commencement of exports to other countries, including the United States (US), India, and Brazil as Nigeria is already gaining extensively in earnings of Foreign Exchange (Forex) from the excess production of, and export from the plant.

According to him, the coming on stream of the plant had created huge opportunities in the areas of job creation, trade, warehousing, transport, and logistics, which would, in turn, create significant wealth, reduce poverty, and help in securing the future of the country.

Buhari as well stated: ‘‘In the agricultural sector, another focal point of our economic policy, we expect a boom as fertilizer is now readily available in greater quantities and better quality.

‘‘Many Nigerians who hitherto practised subsistence farming because of nonavailability of necessary inputs can now take up agriculture as a business.

‘‘We expect the rise of a new breed of agropreneurs who will add value to farming and make the nation self-sufficient in food production.”

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