Africa’s Richest Man Advises On Investing In Nigeria

Aliko Dangote, President and CEO of Nigeria's Dangote Group speaks during the final session of the World Economic Forum

Foremost African entrepreneur, Alhaji Aliko Dangote has assured investors of having a good Return on Investment (ROI) in Nigeria.

While speaking to a group of entrepreneurs in his office in Lagos, Alhaji Dangote said investors have little to worry about on the current challenges faced by the country as “they are necessary steps needed for the nation to rank among the best industrially in years to come.”

Dangote, who is also member of Nigeria’s National Economic Management Team, urged local investors to complement the efforts of the Nigerian government in being among the best 20 developed countries in 2020; by engaging in manufacturing and investing in employment-generating businesses to empower Nigerians.

He added that the situation in Nigeria is such that all must ensure the dream of Nigeria’s economic turn-around becomes a reality.

Quoting a report published last August by Global Consulting firm, McKinsey, on the economic potentials in Nigeria and a host of other African countries; Dangote said: “The McKinsey Report is very instructive; it says that half of the 30 million jobs in African manufacturing, offer wage paying employment, a higher share than most sectors. If current projections for manufacturing value-added growth hold, it is estimated that that the sector will create eight million more stable jobs by 2020.”

He explained that “Economic development of the country rests more on the shoulders of the private sector operators. Government strategic role is to ensure conducive environment by putting in place right policies that will encourage setting up of businesses.”

Africa’s richest man, however, appealed to Nigerians to contribute their quota – by doing what is right and paying taxes – in order to ensure real growth and development.

Source: Ventures Africa

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