Dangote Group Revenue Could Make Up To 10% Of Nigeria’s GDP By 2020
The first ever African Investment Summit is ongoing in Sandton, South Africa.
Some of the important soundbites coming from the investment forum include those from Aliko Dangote, Africa’s richest man.
He told the forum that his conglomerate’s revenue base will hit $30 billion by 2020 — a feat he would never have considered possible 10 years ago.
Nigeria’s gross domestic product, GPD is around $376 billion. At a sluggish annual growth rate of less than 5%, the economy could still be less than $400 billion by 2020.
At that rate, Dangote Group’s $30 billion revenue could account for up to 10% of the country’s GDP.
TheCable reports that speaking at the forum, the multibillionaire noted that five men, built America and those five do not include President Donald Trump.
He added that Africa could do the same things to become great, adding that he would love to be part of those who make Africa great.
“What I will do is to see how some of us, which I really want to be among, will try and transform Africa into exactly what happened in Asia.
“Nobody will come and transform Africa but us. So, we must lead. If you look at it, look at how the American economy is today, it was made possible by five people, the likes of Ford, Carnegie, and the rest.
“They were the ones that actually made America great, I mean, it is not Donald Trump. So really, when you look at it, we can make it happen, I have seen it.”
He said the progress being made by the Dangote Group is as a result of bold steps being taken to venture into spaces others are running away from.
“I am a true believer that nothing is impossible. Ten years ago, if you mention to me or even if I actually see it in a dream that our company will have a revenue of $3 billion, I would have said it is impossible.
“But today, by 2020, we would have $30 billion of revenue. Why? Because we have gone into a very bold product,” Dangote said.
Don't forget to share this story with your friends.