Dangote Promises To Share wealth with Nigerians

 

 

Aliko Dangote,Africa’s richest man has promised to Share his wealth with Nigerians ,as more of his companies would be listed on the floor of the Nigerian Stock Exchange(NSE),saying that his holdings would with a decade be a 100 times of its current position.

He indicate that the future is positive and that Nigerians should be optimistic going forward,saying”What i want to assure you is that what we are building today is more than 100 times more were we are today.That is what we are we are seeing in the next 10 years.And we are going to share it with everybody”

Earlier the CEO of the NSE,Oscar Onyema had welcomed the people gathered for the closing gong event in honour of Dangote at 60 .It should be recalled that Dangote was the former President of the NSE.

Those who graced the event include Jim Ovia ,chairman Zenith Bank Plc,Femi Otedola,chairman Fort Oil Plc,Engr.Mohammed Daggash,Senator Sanusi Daggash,Dr Benedicter Molokwu of Dangote Industries,Dangote three Daughters,Maria,Alya,Fatima.

The Doyen of the brokers,Rashidee Yusuf praised Dangote for his financial and business acheivements,saying that he has the support of the brokers under the exchange

According to wikipeadia he Dangote Group was established as a small trading firm in 1977, the same year Dangote relocated to Lagos to expand the company.[9] Today, it is a multi-trillion naira conglomerate with many of its operations in Benin, Ghana, Nigeria, and Togo. Dangote has expanded to cover food processing, cement manufacturing, and freight. The Dangote Group also dominates the sugar market in Nigeria and is a major supplier to the country’s soft drink companies, breweries, and confectioners. The Dangote Group has moved from being a trading company to being the largest industrial group in Nigeria including Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.

In July 2012, Dangote approached the Nigerian Ports Authorities to lease an abandoned piece of land at the Apapa Port, which was approved. He later built facilities for his flour company there. In the 1990s, he approached the Central Bank of Nigeria with the idea that it would be cheaper for the bank to allow his transport company to manage their fleet of staff buses, a proposal which was also approved.

In Nigeria today, Dangote Group with its dominance in the sugar market and refinery business is the main supplier (70% of the market) to the country’s soft drinks companies, breweries and confectioners.[citation needed] It is the largest refinery in Africa and the third largest in the world, producing 800,000 tonnes of sugar annually. Dangote Group owns salt factories and flour mills and is a major importer of rice, fish, pasta, cement and fertiliser.

The company exports cotton, cashew nuts, cocoa, sesame seed and ginger to several countries. It also has major investments in real estate, banking, transport, textiles and oil and gas. The company employs over 11,000 people and is the largest industrial conglomerate in West Africa.

Dangote has diversified into telecommunications and has started building 14,000 kilometres of fibre optic cables to supply the whole of Nigeria. As a result, Dangote was honoured in January 2009 as the leading provider of employment in the Nigerian construction industry.

He said, “Let me tell you this and I want to really emphasize it…nothing is going to help Nigeria like Nigerians bringing back their money. If you give me $5 billion today, I will invest everything here in Nigeria. Let us put our heads together and work.”