‘Why Dangote May Become World’s Largest Exporter Of Rice In 2021’
Every item he touches turns to gold. He capture the consumers and expands it beyond his competitors wildest dreams.
Africa’s richest man, Aliko Dangote is on the roll again.
This is according to the President, African Development Bank, Akinwumi Adesina.
He stated this at the Mo Ibrahim Forum in Morocco over the weekend, while noting that Africa should focus on agriculture to drive growth and employment.
Adesina recalled that during his tenure as Nigeria’s Minister for Agriculture, Dangote decided to invest in local production of rice due to government’s import substitution policies.
Adesina said that Dangote initially planned a 300 million-dollar investment in production and processing of rice in Nigeria but later changed it to one billion dollars three months after.
“If they continue that policy, he would probably be the single largest producer of rice in the world, in about four years.
“The reason why I was so excited about that is that agriculture is cool, agriculture is a business and agriculture pays,” Adesina said.
Alhaji Aliko Dangote, Chairman, Dangote Ltd, said he ventured into rice cultivation because of government’s interest to revive agriculture as the mainstay of the economy and reduce importation of food that could be produced locally.