Dangote set to enter steel production industry

Aliko Dangote, has announced plans to venture into steel production, aiming to ensure that all steel used in West Africa is sourced from Nigeria.

Dangote shared this vision during an interview at the ongoing Afreximbank Afro-Caribbean Trade & Investment Forum in Nassau, Bahamas.

When asked if he plans to take a break after completing his refinery project, Dangote stated that his next venture will be in steel manufacturing. He emphasized his goal to make Nigeria the primary source of steel for West Africa.

“We want to make sure every single steel that we use will come from Nigeria. What I keep telling people is that, look, we as Africans, please, don’t be deceived, no foreigner can come and make your continent great. It must be the domestic investors. Because domestic investment is what actually attracts foreign investment,” he said.

He also urged African leaders to focus on agriculture and solid mineral development, noting that the high cost of food imports exacerbates unemployment and poverty on the continent.

He added, “what we need to do that is missing is actually to concentrate and pay more attention to agriculture and solid minerals. I don’t like people coming to take our solid minerals to process and bring the finished product. We should try and industrialize our continent and take it to the next level.”