Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Dangote tells govt to reduce imports, boost local industries

    Dangote tells govt to reduce imports, boost local industries

    July 7, 2024
    Share
    Facebook Twitter LinkedIn WhatsApp
    *Aliko Dangote, President Dangote Group.

    Mkpoikana Udoma

    Port Harcourt — Aliko Dangote, Chairman of Dangote Group, has urged the federal government and Nigerians to reduce the country’s dependence on imports and prioritize support for local industries.

    The business mogul, speaking on the importance of reducing import dependence, stated that “import dependence is equivalent to importing poverty and exporting jobs.”

    Delivering a keynote address at the ongoing National Manufacturing Policy Summit in Abuja, Dangote stressed the need for Nigeria to develop its manufacturing sector and promote made-in-Nigeria products.

    He highlighted the necessity of reliable power supply and affordable financing for industrial growth, and called for protective measures for local industries, asserting that “there is no industrialisation without protection.”

    The Dangote Group boss also advocated a circular economy model, where economic activities remain within the country, benefiting all sectors of society.

    He said, “Industrialisation is an inescapable road to sustainable and inclusive economic growth and human development.”

    Dangote’s call was echoed by Vice President Kashim Shettima, who emphasized the need to prioritize local content and promote made-in-Nigeria products, noting that Executive Order 003 which makes the patronage of locally manufactured products mandatory was still in effect.

    “Let us be reminded that we cannot achieve significant progress in our drive for industrialisation unless we deliberately promote the production of capital goods. We must be focused on expanding our production base, prioritizing local content, and promoting made-in-Nigeria products.

    “I want to assure you that Executive Order No 003, Support for Local Content in Public Procurement by the Federal Government, which mandates the patronage of locally manufactured products is still in effect. The relevant government Ministries, Departments, and Agencies are mandated to fully comply with the order,” he declared.

    Also, former Minister of Finance, Mr. Olusegun Aganga, urged the government to declare manufacturing a national priority sector, noting that the mere possession of natural resources does not guarantee national wealth.

    “What makes a country rich is what it does with its resources,” Aganga said, calling for a shift from peasant farming to commercial agriculture and from artisanal mining to attracting major miners.

    Aganga also recommended eliminating excessive customs duties, levies, and overlapping regulatory mandates to boost the manufacturing sector.

    Related News

    Shettima urges integration of informal economy into formal intra-African trade framework 

    VTT’s TOF-SIMS device studies composition and durability of solid material

    Nigeria, Brazil sign $1bn agreement to boost agriculture, energy, defense

    Comments are closed.

    E-book
    Resilience Exhibition

    Latest News

    NEPZA, Federal Committee, Dangote Refinery FZE to crash petroleum products prices

    June 26, 2025

    ‘Cross-border financial crimes draining billions from West, Central Africa’ 

    June 26, 2025

    Tariff crisis stalls Nigeria’s gas-to-power expansion

    June 26, 2025

    NNPC/First E&P JV achieves 10 million LTI-free man-hours across operations

    June 26, 2025

    NCDMB, Dangote Refinery inaugurate Joint Committee to deepen local content

    June 26, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.