The Dangote Group has emphasized the vital role of domestic production in bolstering Nigeria's economic resilience. Abdullahi Bello Danmusa, group general manager, represented the regional director/senior adviser to the Dangote Group president/CE, Fatima Wali-Abdurrahman, at the Dangote Special Day at the Abuja International Trade Fair. Danmusa highlighted the significance of domestic production in achieving economic resilience.
Danmusa stressed that taxation is a fundamental component of national development, and the Dangote Group takes its tax obligations seriously, contributing substantial revenues to the government annually. The Group also supports employment, enterprise, and value creation across its operations. This, according to Danmusa, is crucial in building a resilient economy.
According to Danmusa, trade can have a greater economic impact when supported by a strong domestic productive capacity. He noted that no country can build lasting resilience by relying excessively on imports of goods it can produce competitively at home. The Dangote Group continues to invest in manufacturing and industrial capacity across various sectors, including cement, sugar, salt, and seasoning, packaging, fertiliser, petrochemicals, and petroleum refining.
The theme of the Abuja International Trade Fair, "Resilience: Trade, Taxation and the Economy," aligns with the realities of the current economic situation, Danmusa said. He noted that Nigeria's economic resilience will ultimately depend on a fundamental choice: to continue importing what can be produced or build the capacity to produce, compete, and export. This choice, Danmusa believes, will determine the country's economic trajectory.
Strengthening domestic manufacturing capacity will help deepen economic activity, create jobs, support local enterprises, and reduce excessive dependence on imported products, according to Danmusa. The Dangote Group's investments across various sectors reflect its commitment to supporting Nigeria's industrialisation and contributing to the development of a more productive and resilient economy.
Prof. Adebisi Adesugba, first deputy president of the Abuja Chamber of Commerce and Industry (ACCI), commended Dangote Industries for its contribution to Nigeria's economic development. Adesugba, representing the president of ACCI, Emeka Obegolu, noted that the longstanding partnership between Dangote and the Chamber demonstrates the importance of collaboration between businesses and industry stakeholders.
Adesugba recognised Dangote not only as an exhibitor and sponsor but also as a strategic partner, citing the company's investments in sectors such as cement, fertiliser, agriculture, refining, and petrochemicals. These investments have contributed to strengthening domestic productive capacity, creating employment opportunities, reducing dependence on imports, and supporting foreign exchange generation.
Key points
- Domestic production is crucial for Nigeria's economic resilience.
- Dangote Group invests in various sectors to support Nigeria's industrialisation.
- Partnership between Dangote and ACCI promotes economic development and trade.
