President Muhammadu has expressed confidence that with the inauguration of the Dangote Fertiliser Plant, which has an installed capacity of 3.0 million metric tonnes of Urea per annum, Nigeria’s dependence on imported products in agriculture sector will soon be a thing of the past.
He made the declaration at the inauguration of the $2.5 billion plant in Ibeju Lekki, Lagos State, on Tuesday.
The president said the plant would further advance Nigeria’s drive towards achieving self-sufficiency in food production, create jobs, increase the inflow of foreign exchange and accelerate economic growth.
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He commended the chairman, board and management of Dangote Industries Limited for their business initiative in conceptualising and building the plant, the second largest in the world. Buhari similarly expressed confidence that the investment would replicate the Group’s earlier exploits in the cement sector, where Dangote Cement holds the enviable record as the continent’s largest cement producer, with footprints in 10 other African countries.
“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.
“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.
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“This is very pleasing because job creation by private sector operators is vital to security, as it takes thousands of youths off the street,” he said.
The president spoke on other benefits of the plant, expressing delight that with the commencement of exports to other countries, including the United States, India and Brazil, Nigeria is already gaining in earnings of foreign exchange from the excess production and export from the plant.
He said many Nigerians who had hitherto practised subsistence farming because of the non-availability of necessary inputs could now take up agriculture as a business.
The president, therefore, reassured Nigerians that his government was focused on providing an enabling environment for the private sector to thrive, pledging continuity in improving infrastructure, power and security as well as enacting relevant laws and regulations to drive investments in the economy.
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He commended the Central Bank of Nigeria (CBN), the Development Finance Institutions (DFIs), local and foreign commercial banks that supported Dangote to make the projects a reality.
After the inauguration, President Buhari inspected the 650,000 barrels per day petroleum refinery and 900,000 tonnes per annum polypropylene plant sited within the Dangote Free Trade Zone Complex.
In his remarks, Dangote said the fertiliser complex, which occupies 500 hectares and was built at a cost of $2.5 billion, would drastically reduce the level of unemployment and youth restiveness in the country, through the generation of direct and indirect employment.
He praised President Buhari for his sustained support and encouragement and for honouring the invitation, while he also commended the leaders and people of the host communities for providing a conducive environment for the project to thrive.
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