After investing US$2 billion in Nigeria’s sugar industry, the president of the Dangote Group, Aliko Dangote announced the group will invest US$300 million into the country’s rice industry with the goal of achieving self-sufficiency by 2015. The Dangote Group has created self-sufficiency for Nigeria through its investments before. The group ended cement importation with the construction of three plants in Obajana, Gboko, and Ibese. The group is also planning on eliminating sugar importation by 2015 through its massive US$2 billion investment in sugar cultivation on 100,000 hectares across six states. Mr. Dangote cites the country’s very friendly agricultural and investment policies of the Nigerian government as being a major reason for the group’s push into agricultural investment in recent years.
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