Foremost industrialist and Africa’s richest man, Aliko Dangote, has said agriculture is one of top investment sectors and in the nearest future would be able to provide more revenue than crude oil in Nigeria.
The billionaire businessman stated this on Wednesday while speaking at the 4th Kaduna Economic and Investment Summit (KADInvest 4.0) in Kaduna, Northwestern Nigeria.
Dangote, who spoke on the theme ‘Expanding Investment Frontiers’ revealed that his Group will invest in automobile assembly and agriculture in Kaduna state.
“Agriculture is one of our top investment sectors and in the nearest future, agriculture would be able to provide more revenue than crude oil in Nigeria.” Dangote said.
While commending Kaduna State government’s drive in attracting private investment and giving tips to expands developmental activities in the North, Dangote said the private sector remains the best engine to drive economic
“Private investment will create jobs and climate unemployment and poverty. Once employment is fixed, social vices will eradicate,” he said.
He further applauded Kaduna State Governor, Nasir El-Rufai, for his vision in creating enabling business environment in the state, as the state ranked first in the ease of doing business in Nigeria, according to World Bank Ease of Doing Business Report 2018.
Dangote however stated that the country is bedeviled with many challenges despite abundant human factor, mineral and agricultural potentials.
“Nigeria is ranked 157 out of 189 countries on the human development index and the overall social economic condition is a cause for concern while regional disparity is alarming.
He said more than 60% of the Northern population lives in extreme poverty.
“Northern Nigeria will continue to fall behind if respective states do not move to close the development gap and the biggest challenge is to have 10 governors like Malam Nasir El-Rufai to move northern Nigeria forward.”
In his goodwill message to the summit, President Muhammadu Buhari, said he closely followed the determined efforts of Kaduna state government to establish its credentials as an investment destination, given the intense global competition for investment funds.
Buhari, said the federal government shall accord priority to the implementation of the economic recovery and growth plan across the subnational level, along with private sectors to help create sustainable jobs and prosperity to the people.
The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, also described governor El-Rufai as a pace setter that should be emulated by other governors.
The monarch, who awarded the ‘Man of The Moment’ award to the Kaduna state governor, stated that another feat achieved by El-Rufai is identifying capable women and giving them opportunity of governance in the state.
He (Ooni of Ife) however, called on investors to take the advantage of ease of doing business and the enabling environment to invest in Kaduna.
He said he decided to award governor El-Rufai due to his pragmatic and people’s oriented programmes and policies especially in the area of investment drive.
The state governor, Nasir El-Rufai, said in 2015, his administration took deliberate action to attract investors’ attention as part of its governance strategy to develop the state, create jobs and expand its revenue base.
He said Kaduna state is open for business adding that, “we will continue to expand our investment frontiers. There is much to be done to translate our areas of comparative advantage into dynamos of economic growth.”
Since the inception of Mallam Nasir El-Rufai-led government, the Kaduna Investment Promotion Agency (KADIPA) has successfully organised Kaduna Economic and Investment Summit (KADInvest) – an event which showcase the rich investment opportunities which Kaduna State offers.
Posted by Yetunde Adegoke
