Domestic Production Critical To Economic Resilience, Says Dangote

The Dangote Group has emphasized the importance of domestic production for enhancing Nigeria's economic resilience, as reported by a press statement from the group's Corporate Affairs Unit. Speaking at the Dangote Special Day during the Abuja International Trade Fair, Mr. Abdullahi Bello Danmusa, the Group General Manager, highlighted that taxation is a crucial element of national development and that the Group is a major contributor to government revenues.

Mr. Danmusa also stressed the importance of trade when supported by strong domestic productive capacity, stating that no country can achieve lasting resilience by excessively relying on imports that it has the ability to produce domestically.

The Dangote Group's commitment to industrialization is evident in its investments across various sectors, such as cement, sugar, salt, seasoning, packaging, fertilizers, petrochemicals, and petroleum refining. Mr. Danmusa explained that by strengthening domestic manufacturing capacity, the country can deepen economic activity, generate employment, support local enterprises, and decrease excessive dependence on imported products.

Prof. Adebisi Adesugba, the First Deputy President of the Abuja Chamber of Commerce and Industry (ACCI), echoed the Group's sentiments, praising Dangote Industries for its contributions to Nigeria's economic development. Adesugba highlighted the longstanding partnership between Dangote and the Chamber, which not only showcases the importance of responsible corporate participation in promoting commerce, investment, and entrepreneurship but also demonstrates the significant impact of strategic investments in sectors such as cement, fertilizers, agriculture, refining, and petrochemicals.

He noted that these investments have enhanced domestic productive capacity, created employment opportunities, reduced reliance on imports, and bolstered foreign exchange generation.

The Dangote Special Day, part of the ongoing Abuja International Trade Fair, gathered business leaders, government representatives, investors, exhibitors, entrepreneurs, and other stakeholders to discuss vital issues surrounding taxation, trade, industrialization, investment, and domestic production, all contributing to Nigeria's broader economic prospects.