Africas richest man, Aliko Dangote, is widening his focus beyond oil and petrochemicals. After outlining plans to lift the processing capacity of his refinery from 650,000 barrels per day to 1.4 million barrels per day within three years, the billionaire industrialist is turning attention to another long-term goal: ending Nigerias dependence on imported sugar.
Dangote Sugar unveils 700 million expansion
Dangote Sugar Refinery, one of the groups subsidiaries, plans to invest more than 700 million in land development, equipment, infrastructure, training and community engagement. The aim, according to company officials, is to build a supply chain that can produce enough raw sugar locally to meet domestic demand and support future manufacturing expansion.