Cover Stories, Politics

DANGOTE AGAIN! Budgets N7.5 billion for new company

Trillionaire business man, Aliko Dangote is at it again. He just increased the value of his business empire with his latest plan to erect a world class energy food plant. The new company will be coming under one of Dangote Group’s subsidiaries – Dansa and it will cost the man rated as the richest in Africa a whooping £36 million (N7.5 billion)

Location and further details of the new establishment are still under wraps, Chairman of the group, Aliko Dangote disclosed this at a forum in the United States which had world business leaders in attendance.

We, however, spoke to Mr. Sunday Esan, The Group’s General Manager Corporate Communications on Friday, September 27, 2013. He told ENCOMIUM Weekly that it is one of the Group’s projects in the pipeline, “It is still a project in the pipeline, it was announced by the chairman himself and until he comes back I don’t have any information about it. When he (Dangote) comes back, he will talk more about it.”

When completed, the energy and food plant will be the biggest in Africa, if not in the world. The shrewd business man will no doubt take over the agriculture sector of the economy, an area many business men dread. Already, Dangote has taken over the cement business with many plants in Nigeria and abroad churning out metric tonnes all around. He is Nigeria’s major producer of salt, sugar and flour. Only recently, he acquired loans from s consortium of banks to build a world class refinery. His worth presently, according to Forbes, is $16.1 billion.




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