The Dangote Group has expanded its investments into agriculture and mining, Mansur Ahmed, Executive Director, Corporate Communications of the group, said in Kano.
He said at a media forum in Kano that the aim was to beat the economic recession in the country.
According to him, “The group reviewed its business plan to develop its investment directive and commits a greater investment in agriculture and mining to diversify economy.”
The reason is to diversify into areas that are fundamental to consumers and other stakeholders.
Ahmed pointed out that the company planned to expand its sugar refinery to other states, adding that the company had already started acquiring land for the purpose.
“We are actually working towards providing enough sugar and wishing to eliminate the importation of sugar by the next five years.”
The spokesman announced that rice and milk production had already begun in Jigawa, although it wasn’t done directly by the company yet.
He, however, stressed that the company had worked with about 800 farmers in Hadejia in Jigawa and planned to increase the number to about 2,000 farmers to begin commercial farming.
Other areas that the company is venturing into are in the oil and gas sector.
The group would also venture into fertiliser production, petrochemicals and provision of gas pipeline and alternative energy supply.