Sugar Processing: Dangote To Invest 217 Billion Naira In Nasarawa

FAACAfrica’s richest businessman,¬†Aliko Dangote has pledged to invest 217 billion Naira on sugar processing in Nasarawa State.

He made the pledge when he visited the governor in Lafia, to discuss the outlook of the investment.

According to Dangote, the sugar processing plant which is to be cited in Tunga village of Awe Local Government Area of the state will occupy 60,000 hectares of land and will take off in less than 30 months.

He explained to the Governor that the plant will be the largest in the world and will produce 480,000 tonnes of sugar, which is 27 percent of Nigeria’s total consumption.

He said the project is targeted at employing over 40,000 people which includes 10,000 out growers who will be given inputs and all necessary equipment.

He also said he is hopeful that the investment will improve lots of host community as primary and secondary schools will be built, those existing will be refurbished, welfare of the teachers will be taken care of, provision of water, electricity and an equipped hospital among other benefits.

He further expressed optimism that the investment will improve the Internally Generated Revenue of the state asides other benefits.

“Once you have light, people will be able to generate their livelihood and they won’t mind paying their taxes if they are making money”

“So the revenue of the government will increase and their will be quite a lot of activities, the employment will be over 30,000.

“This project will cost about 700 million Dollars, this is going to be the largest sugar plantation in West Africa”, he said.

The state is also to benefit from 50 megawatts of power which will be generated from the bagasse of the husks of sugar canes which will in-turn woo other investors.

Responding, the governor expressed happiness with the development which he said will turn around the fortunes of the state.

He then assured him of his safety and necessary support.

“We assure you of absolute and total cooperation in carrying the activities. Nasarawa state is going to ensure full fledged security networks that will give your workers the opportunity to work without any hindrances, any fear or any tribulations”

“I want to assure you that we will do anything we can to ensure that this seed of wealth that you have planting in Nasarawa state will germinate and expand the scope of our prosperity, wealth and well being”,the governor said.

Buhari Meets With Dangote, Sanusi And Schwarzman Of Blackstone Group

Aliko Dagote, Steve Schanerzman and Muhammed-Sanusi-II meet with BuhariThe Nigerian President, Muhammadu Buhari has held talks with the emir of Kano, Muhammad Sanusi II, Africa’s richest businessman and the President, Dangote Group PLC, Mr Aliko Dangote and the Co-founder of Blackstone Group, Stephen Schwarzman.

Before the closed-door meeting held at the Presidential Villa, the top Business executives and the Kano traditional leader came into the Villa at about 1:00pm, local time, and joined the President in the Friday Jumat prayers.

After the prayers they retired into the President’s office for a meeting that held for about an hour.

“To Invest In Nigeria”

Also present at the meeting were the Vice President, Professor Yemi Osinbajo, the Chief of Staff to the President, Mr Abba Kyari.

Although details of the meeting were not made known to reporters, it is believed that it may have centred on investments and job creation. An earlier meeting between the business moguls and the Senate President, Dr Bukola Saraki, had centred on their desire to commit more funds into different investments in Nigeria.

Dr Saraki had assured Mr Dangote, Mr Sanusi and Mr Schwarzman of the Senate’s commitment to enacting appropriate legislations to create attractive business environment in Nigeria.

The Senate President said the 8th Senate would concentrate on commercial aspects of the nation’s laws, having successfully reviewed the criminal aspect in the 7th Senate.

Saraki said: “I congratulate you for the first step you have taken in coming to invest in Nigeria and to reassure you that as far as we are concerned, the Senate will give support in any way we can to make legislations that will make investing in Nigeria conducive.

“One of our priorities in the legislature is to look at the private sector and the business environment because some of our old laws have not been reviewed and that is why we are setting up committees to look at and make it more interesting and attractive to invest in Nigeria.

“In the Seventh Senate, we have done a review of the criminal aspect of the laws and brought them up to date and now we are dealing on the commercial side”.

During his campaign, President Buhari had promised to explore all avenues to create more jobs for Nigerian youths and grow the economy through foreign direct investments.