The Dangote Group has highlighted the importance of domestic production in strengthening Nigeria's economic resilience. According to the Group General Manager, Abdullahi Bello Danmusa, domestic production is crucial for meaningful trade and economic impact. Speaking at the Abuja International Trade Fair, Danmusa emphasized that no country can build lasting resilience by depending excessively on imports that it has the capacity to produce competitively at home.
Danmusa made these remarks during the Dangote Special Day at the trade fair, which had the theme "Resilience: Trade, Taxation and the Economy." He stressed that taxation remains a fundamental component of national development and that the Dangote Group takes its tax obligations seriously, contributing substantial revenues to the government annually. The group's investments across various sectors, including cement, sugar, salt, and petroleum refining, reflect its commitment to supporting Nigeria's industrialization.
The Dangote Group's investments have contributed to strengthening domestic productive capacity, creating employment opportunities, reducing dependence on imports, and supporting foreign exchange generation. Danmusa noted that strengthening domestic manufacturing capacity would help deepen economic activity, create jobs, support local enterprises, and reduce excessive dependence on imported products. This, he believes, will ultimately depend on a fundamental choice: to continue to import what Nigeria can produce or build the capacity to produce, compete, and export.
Also speaking at the Dangote Special Day, the First Deputy President of the Abuja Chamber of Commerce and Industry (ACCI), Prof. Adebisi Adesugba, commended Dangote Industries for its contribution to Nigeria's economic development. Adesugba, who represented the President of ACCI, Emeka Obegolu, SAN, noted that the longstanding partnership between Dangote and the Chamber demonstrates the importance of collaboration between businesses and industry stakeholders.
Adesugba recognized Dangote not only as an exhibitor and sponsor but also as a strategic partner. He said the partnership between ACCI and Dangote has contributed to creating opportunities for businesses and entrepreneurs while supporting trade, investment, and sustainable economic development. The ACCI President's representative emphasized that Dangote's strategic investments in sectors including cement, fertilizer, agriculture, refining, and petrochemicals have had a positive impact on the economy.
The Abuja International Trade Fair's theme, "Resilience: Trade, Taxation and the Economy," speaks directly to the realities of the current economic situation. Danmusa believes that Nigeria's economic resilience will ultimately depend on its ability to build domestic productive capacity and reduce dependence on imports. The Dangote Group's commitment to investing in manufacturing and industrial capacity across various sectors reflects its dedication to supporting Nigeria's economic development.
The Dangote Group's efforts to promote domestic production and economic resilience have been acknowledged by stakeholders, including the ACCI. As the group continues to invest in various sectors, its contributions to Nigeria's economic development are expected to have a lasting impact. With a focus on building domestic capacity and reducing dependence on imports, the Dangote Group is playing a critical role in shaping Nigeria's economic future.
Key points
- Domestic production is crucial for Nigeria's economic resilience.
- Dangote Group's investments have contributed to strengthening domestic productive capacity and creating employment opportunities.
- The group's commitment to tax obligations and investments across various sectors reflects its dedication to supporting Nigeria's industrialization and economic development.
