Dangote’s War Against Importation Wages on as He Allocates $700 Million to the Fight
Aliko Dangote recently disclosed his intentions to end sugar importation following his move to allocate $700 million to the cause.
Speaking on Wednesday at the 14th Gateway International Trade Fair in Abeokuta, Ogun State, during the “Dangote Special Day,” the billionaire indicated that the company is speeding up its Sugar Backward Integration Plan in order to increase domestic output.
Tunde Mabogunje, Regional Director of Lagos/Ogun Dangote Cement, who represented the billlionaire, stated, “We are actively executing the Sugar Backward Integration strategy and have committed over $700 million to land acquisition, machinery, infrastructure, manpower, community relations, and corporate social responsibility initiatives to ensure Nigeria ends raw sugar importation.”
He added, “As a conglomerate driving Nigeria’s economic diversification, we will continue to explore opportunities in the manufacturing sector to replace imports, create jobs, and support economic growth,” he stated.
The Nigerian business mogul conveyed the belief that the trade fair will increase market reach, raise consumer knowledge of the company’s goods, and support economic growth and job creation, as reported by the Punch newspaper.
“We are confident that this longstanding partnership with OGUNCCIMA will not only benefit our businesses but also contribute to the broader economic development of Nigeria and Africa,” Dangote relayed.
Last year, Dangote Refinery filed a case against the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian National Petroleum Corporation Limited (NNPCL), who are designated as the first and second defendants, respectively, in a bid to halt the importation of refined petroleum.
Other companies cited are AYM Shafa, A. A. Rano, T. Time Petroleum, 2015 Petroleum, and Matrix Petroleum, all of whom are attempting to invalidate import permits for refined petroleum products.
The lawsuit, assigned to Justice Inyang Ekwo of the Federal High Court in Abuja, was scheduled for hearing on the 20th January 2025.
The refinery back in October, 2024, requested that the Federal High Court in Abuja cancel the import licenses given to the NNPCL, Matrix Petroleum Services, A. A. Rano, and four other oil companies.
