Dangote on Nigeria’s industrialization objectives and prioritizing investments in infrastructure and core sectors as essential solutions for raising Nigeria’s economy to its desired level among modern nations and in the global economy.
Alh. Aliko Dangote on Nigeria’s industrialization objectives suggested that, among other things, the manufacturing sector’s share of gross domestic product (GDP) should more than double to 20%, up from the present 9%, during the next ten years to encourage industrialization in the nation.
Dangote delivered a speech in Lagos at the 2nd Adekola Odutola Lecture, which was held in honor of the Manufacturers Association of Nigeria’s (MAN) 50th Annual General Meeting.
“Nigeria needs to, going forward, step up efforts to support industrialization with a focus on achieving the following goals in the next ten years,” he said.
Stronger inter-industry linkages between SMEs and large corporations, improved manufacturing contribution to government tax revenue, and a 20% increase in manufacturing employment.
“15% growth in the manufacturing sector, 20% manufacturing contribution to GDP, 15% growth in export of manufactured goods, 10% increase in the share of manufacturing to total export merchandise.”
President of the Dangote Group, Alhaji Aliko Dangote
Dangote remarked that by connecting industrial activity with the primary sector, domestic and international trade, and service activities, industrialization enhances a country’s ability to compete globally in the creation of processed and manufactured commodities.
Dangote on Nigeria’s industrialization objectives, In his own words: “In order to fulfill industrialization goals, a country must adopt strategies and policies that will support and sustain industrial development.
Establishing a favorable climate for investment and ensuring resource efficiency in order to boost national productivity and growth requires sustainable industrial development.
Dangote on Nigeria’s industrialization objectives.
“The establishment of a pathway to sustained industrial growth requires the adoption of industrialization-centric strategies and policies, promotion of the National Manufacturing Philosophy, securing the government’s buy-in for successful implementation of the agenda, and promotion of smart manufacturing.
There is also a need for the establishment of a robust framework aimed at improving the business environment, and the extension of comprehensive and integrated support to priority sectors
It also requires the creation of solid partnerships with the commercial sector both domestically and abroad.
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