EXCLUSIVE: Dangote Advocates Prioritisation Of Manufacturing Over Raw Materials’ Export

President of Dangote Industries Limited, Aliko Dangote, has called on Africans to leverage internal strengths and global opportunities to fill existing gaps and adopt a deliberate reorientation toward industrialisation of Africa’s manufacturing sector, as a panacea against the current global economic instability... Read ..Full.. Article.. .

He encouraged operators in the manufacturing and industrial sectors across the continent to embrace a fundamental shift in mindset and develop robust regional value chains and deepen intra-African trade as inward solutions to boost overall development across the continent.

He noted that current geopolitical tensions and trade wars have caused major economies to reevaluate their traditional trade partnerships with a view to diversifying their supply chains, and urged African exporters to benefit from the current process to fill the gap by competitively supplying the required products.

These recommendations were contained in Dangote’s welcome address at the company’s Special Day at the ongoing 4th Intra-African Trade Fair held in Algiers, Algeria, where he was represented by his Special Adviser and Representative, Engr. Ahmed Mansur, according to a statement on Saturday.

Dangote said, “I am glad to be here at the 4th Intra-African Trade Fair (IATF). I am immensely grateful to the organisers – not only for inviting me and allowing me to speak – but also for going a step further by dedicating this remarkable day to my organisation, Dangote Group.

“To have today officially set aside as Dangote Day is both an honour and a privilege.

“I thank the conveners – The African Export Import Bank, the African Union Commission and the Africa Continental Free Trade Area Secretariat – for organising this event.

“We appreciate the invaluable contributions you have made and the excellent work you continue to do in promoting, facilitating, and deepening trade and investment across the continent.”

According to him, “this year’s theme, ‘Gateway to New Opportunities,” resonates deeply as a powerful reminder of the huge potential and prospects that abound across the African continent.

He stated that for too long, Africa’s resources have been exported as primary commodities in their raw and unrefined state with limited domestic processing or beneficiation.

“There must be a fundamental shift in mindset and a deliberate re-orientation toward industrialisation and the development of Africa’s manufacturing sector. While this was always necessary in the past, it is even more urgent today, given the alarming rise in youth unemployment, and the need for sustainable, inclusive growth”, he added.

The business tycoon observed that current geopolitical tensions and trade wars have caused major economies to reevaluate their traditional trade partnerships with a view to diversifying their supply chains.

Dangote said, “African exporters could benefit if they can fill the gap by competitively supplying the required products. Furthermore, global instability has encouraged African nations to look inward and actively pursue greater regional self-reliance.

“This inward focus can catalyse the development of robust regional value chains and significantly deepen intra-African trade.

“At Dangote, we are very proud of our Afrocentric posture, driven by an unwavering commitment to the continent’s growth and industrial transformation.

“We have added value to limestone and created the largest cement company in sub-Saharan Africa with an aggregate cement production capacity of about 52MMtpa across 10 countries.

“Similarly, our 3MMtpa urea plant has contributed to the attainment of fertiliser self-sufficiency. Nigeria, once solely reliant on imports, is now a net exporter of granulated urea to destinations in Africa as well as to South America, North America and Europe.”

He added: “More recently, we have witnessed the commencement of operation of Africa’s biggest oil refinery – also the world’s largest single-train facility, with a capacity of 650kbpd.

“This landmark project is gradually reducing the region’s long-standing dependence on imports of refined petroleum products, particularly from Europe, while also generating surplus for export to global markets.

“As Africa becomes more self-sufficient in energy, it should reduce our vulnerability to external shocks and supply disruptions.

“Africa’s potential and prospects are immense. However, this potential will only be fully actualised if individual nations take deliberate steps to improve their business environment.

“Unlocking new economic opportunities requires the implementation of appropriate , and..  Read . .More —