The biggest cement factory in sub-Saharan Africa has been opened in Nigeria by Africa’s richest man, Aliko Dangote. Located in Kogi State, Obajana cement is expected to produce about 10 million tonnes of cement per annum.
President Jonathan in his remark, called the plant a “quantum leap” for that nation’s construction sector.
The president noted that the success of this factory was as a result of the government’s policy on public-private partnership.
“To sustain the achievement, government is working with the private sector to launch a Cement Technology Institute, which Aliko Dangote will be the chairman” he said.
The president also revealed that a backward integration policy will soon be implemented for the automobile and garment sectors as well as sugar and rice,
“so that by 2016, we not only be producing for our consumption, but also export.”
It is one of the country’s biggest investments outside the oil sector in recent years.
Nigeria’s economy is expected to grow by about 6% this year.
Mr Aliko Dangote, who was recently crowned, the richest man in Africa by Forbes magazine, in his speech stated that
“Nigeria is the best place in the world to invest”, adding that there are immense investment opportunities in the nation’s power and infrastructural sectors.
Invest opportunities abound in various sectors of the economy, such as power, infrastructure, oil and gas. Discerning investments are aware that this is the place to invest and they screaming over each other to come and invest here.
He enjoined the government to replicate similar policies that encourage his cement factory in other sectors of the economy, saying, “if the federal government can improve on policies such as the one that allowed this cement factory, we will be there in no time. “
The Dangote group has invested some $6.5bn (£4.2bn) in the sector in recent years.
There are also plans to expand the Obajana plant to make it the world’s biggest.
Culled from Nigerianeye