Dangote – 9japroperty http://9japroperty.com.ng All you need to know about properties Mon, 08 Aug 2016 08:52:30 +0000 en-US hourly 1 https://wordpress.org/?v=5.4.15 Dangote commences construction of concrete roads in states http://9japroperty.com.ng/dangote-commences-construction-of-concrete-roads-in-states/?utm_source=rss&utm_medium=rss&utm_campaign=dangote-commences-construction-of-concrete-roads-in-states http://9japroperty.com.ng/dangote-commences-construction-of-concrete-roads-in-states/#respond Mon, 08 Aug 2016 08:13:33 +0000 http://9japroperty.com.ng/?p=4801 Dangote Industries Limited has announced the commencement of the construction of concrete roads in various states across the country, particularly in Lagos, Bauchi, Kogi, Kaduna and Ogun states. “We are very happy at the moment. We can categorically state that we are in more than five states across the country already constructing roads. The reception […]

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Dangote Industries Limited has announced the commencement of the construction of concrete roads in various states across the country, particularly in Lagos, Bauchi, Kogi, Kaduna and Ogun states.

“We are very happy at the moment. We can categorically state that we are in more than five states across the country already constructing roads. The reception has been wonderful. State governments are beginning to see the need to embrace concrete roads and we are very happy at the way things are currently going,” the company said.

The Chairman, Dangote Cement Plc, Aliko Dangote, recently reiterated his plea to the Federal Government to consider the use of concrete in road construction in the country.

The African richest man said it would be to the benefit of Nigerians if the Federal Government embraced the option of using concrete for roads in the country, adding that aside from being cheap, concrete roads were more durable, with near zero maintenance cost.

“We are pushing for Nigeria to do concrete roads. It is cheaper to do a concrete road that will last 50 years than to do a bitumen road. It will also help in eliminating corruption because if you go and build a bitumen road, it will have to be adequately maintained unlike a concrete road that is very durable,” Dangote added.

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Dangote Refinery confirms Lagos as prime investment destination – Ambode http://9japroperty.com.ng/dangote-refinery-confirms-lagos-as-prime-investment-destination-ambode/?utm_source=rss&utm_medium=rss&utm_campaign=dangote-refinery-confirms-lagos-as-prime-investment-destination-ambode http://9japroperty.com.ng/dangote-refinery-confirms-lagos-as-prime-investment-destination-ambode/#respond Wed, 03 Aug 2016 10:46:53 +0000 http://9japroperty.com.ng/?p=4779 Governor Ambode, who spoke at the LFTZ during an extensive inspection tour of the Dangote Refinery by the Togolese President, Faure Gnassingbe, said the refinery eloquently attests to the fact that there is a positive investment climate in Lagos, which has resulted in massive investor confidence The Lagos State Governor, Akinwunmi Ambode, on Tuesday said […]

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Governor Ambode, who spoke at the LFTZ during an extensive inspection tour of the Dangote Refinery by the Togolese President, Faure Gnassingbe, said the refinery eloquently attests to the fact that there is a positive investment climate in Lagos, which has resulted in massive investor confidence

The Lagos State Governor, Akinwunmi Ambode, on Tuesday said the largest single line refinery in the world being developed in the Lekki Free Trade Zone by Africa’s richest man and business mogul, Alhaji Aliko Dangote, is another confirmation that Lagos is a prime investment destination.
Ambode said the project will positively change the face of oil and gas business in the West African region.
Governor Ambode, who spoke at the LFTZ during an extensive inspection tour of the Dangote Refinery by the Togolese President, Faure Gnassingbe, said the refinery eloquently attests to the fact that there is a positive investment climate in Lagos, which has resulted in massive investor confidence.
The Governor said: “This investment (Dangote Refinery) is one of the biggest in Africa today and will have a huge impact on the economy of not only Nigeria but the whole of West African region.
“This refinery, when completed, will be the largest single line refinery anywhere in the world, refining 650,000 barrels of crude oil daily.
“Apart from creating jobs, this refinery will contribute immensely to solving the fuel supply challenge in the West African region.”
The Governor expressed satisfaction with the level of work done on the project so far, saying that he was happy that a lot of progress had been made.
He commended Dangote for his vision, doggedness and unwavering desire to contribute positively to the growth of the Nigerian economy, as well as his confidence in the Lagos economy.
Governor Ambode said aside the fact that the project confirmed the positive investment climate in Lagos, which has resulted in massive investor confidence, he also strongly believes that the future prosperity of West Africa is in collaboration between government and investors, which was why his administration has been working hard to encourage investment in the State.
He reiterated that Lagos is home to all nations, races and creeds, including substantial Togolese population, adding: “I’m positive that we are providing them with the opportunities to get ahead in their endeavours.”
Governor Ambode said as a prominent Head of State in the West African region, he was not oblivious of the interest of President Gnassingbe in the Dangote Refinery, adding that the project was one of the emerging opportunities in Lagos State.
While inviting Togolese investors to take advantage of the positive investment climate in Lagos, Governor Ambode said the State is open for businesses and that his administration, in a bid to encourage investment, had massively invested in infrastructure and security of lives and property.
He said: “Lagos is open for business. We are open to collaboration with the Togolese Government and investors to move our two countries forward.
“Our government is investing massively in creating infrastructure which will support businesses and individuals. We have made huge investment in security and we will continue to ensure that the lives and property of all citizens are secured.
“We will remain partner in progress with all our investors. Our desire is for investors to invest in Lagos, grow their businesses, create wealth and jobs for our people and ultimately grow our Gross Domestic Product (GDP) positively.”
Earlier, Nigeria’s Minister of Industry, Trade and Investment, Okechukwu Enelamah, said the Dangote Refinery project could best be described as a partnership between the private sector and government at its best.
Enelamah commended Dangote for being not only Nigerian champion but champion of Africa with his massive investments and re-investments, which, according to him, are creating jobs and growing the economy.
He said: “We need champions and Dangote is a Nigerian champion; he is an African champion; he is also a role model.
“We need many examples and with the repositioning that the Federal Government is doing, we are going to see many more examples.”
On his part, Dangote commended President Gnassingbe for finding out time to inspect the refinery, adding that he was happy with the interest and encouragement being received over the project.
Apart from the refinery, there is also petrochemical, fertilizer and gas plant with daily production capacity of three billion cubic feet of gas which are being developed by the Dangote Group, all in one location.
Some eminent dignitaries that participated at the tour included former governors of Ogun, Ekiti and Cross River States, Segun Osoba, Niyi Adebayo and Donald Duke respectively; billionaire businessman and Chairman, Zenon Petroleum and Gas Limited, Femi Otedola; and members of the Lagos State Executive Council.

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Dangote Cement donates work tools to artisans http://9japroperty.com.ng/dangote-cement-donates-work-tools-to-artisans/?utm_source=rss&utm_medium=rss&utm_campaign=dangote-cement-donates-work-tools-to-artisans http://9japroperty.com.ng/dangote-cement-donates-work-tools-to-artisans/#respond Mon, 23 Nov 2015 10:12:54 +0000 http://9japroperty.com.ng/?p=3955 Dangote Cement Plc has announced the donation of work tools to artisans around Unity Road junction in Ikeja, Lagos State, as part of efforts to enable them to deliver better jobs. The firm said in a statement that the artisans, who usually gather at the junction waiting to be hired by contractors, included bricklayers, plumbers, […]

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Dangote Cement Plc has announced the donation of work tools to artisans around Unity Road junction in Ikeja, Lagos State, as part of efforts to enable them to deliver better jobs.

The firm said in a statement that the artisans, who usually gather at the junction waiting to be hired by contractors, included bricklayers, plumbers, block moulders, concrete mixers and loaders.

“They gather under the sun while waiting for contractors or those in need of their services. Dangote Cement, as part of its corporate social responsibility project, donated shovels, plastic tables and chairs as well as beach umbrellas to them, and also dressed them in its branded T-shirts,” the statement read in part.

The Regional Director, Marketing Services, Dangote Cement Plc, Mr. Johnson Olaniyi, who led the firm’s team to a ceremony where the items were presented to the artisans, told them that the management of the company decided to provide them with the items so as to ease their work.

Olaniyi urged the artisans to regard themselves as brand ambassadors of Dangote Cement, with the branded shirts, while going about their business.

The Chairman of the artisans, Mr. Dauda Lawal, was quoted as saying that the gifts proved that the cement company was willing to boost productivity in the construction sector.

PUNCH.

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Dangote remains Africa’s richest, loses $5bn – Forbes http://9japroperty.com.ng/dangote-remains-africas-richest-loses-5bn-forbes/?utm_source=rss&utm_medium=rss&utm_campaign=dangote-remains-africas-richest-loses-5bn-forbes http://9japroperty.com.ng/dangote-remains-africas-richest-loses-5bn-forbes/#respond Thu, 19 Nov 2015 11:51:15 +0000 http://9japroperty.com.ng/?p=3940 Forbes has rated the President of the Dangote Group, Aliko Dangote, as Africa’s richest person for the fifth consecutive year. Dangote, through his cement company, operates in Nigeria and other African countries, including Benin, Cameroon, Ghana, South Africa, Togo, Tanzania and Zambia. Dangote was ranked by the magazine as the 67th richest person in the […]

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Forbes has rated the President of the Dangote Group, Aliko Dangote, as Africa’s richest person for the fifth consecutive year.

Dangote, through his cement company, operates in Nigeria and other African countries, including Benin, Cameroon, Ghana, South Africa, Togo, Tanzania and Zambia.

Dangote was ranked by the magazine as the 67th richest person in the world, from a peak of 23rd in 2014. He surpassed Saudi-Ethiopian billionaire, Mohammed Hussein Al Amoudi, in 2013 by over $2.6bn to become the world’s richest person of African descent

Nine other Nigerians made the magazine’s Africa’s 50 richest list. They include Mike Adenuga at 7th place, with $3.5bn; Folorunsho Alakija, with $1.7bn (13th); Femi Otedola, with $1.6bn (16th); Abdulsalam Rabiu, with $1bn (23rd); and Theophilus Danjuma, with $750m (30th).

Others are Tony Elumelu, with $700m (31st); Jim Ovia, with $550m (37th); Mohammed Indimi, with $500m (39th); and Orji Uzor Kalu, with $330m (49th).

Forbes noted that the number of Nigerians on the list fell from 13 in 2014, while South Africa climbed up with 16 slots from 11 last year.

According to the magazine, Dangote’s $16.7bn net worth is nearly $5bn lower than his worth when the list was compiled last year as “a result of a drop in the stock price at his Dangote Cement and a weaker Nigerian currency.”

Alakija is one of only two women on the list. The other being Isabel dos Santos of Angola.

A statement on the magazine’s website read, “Our list tracks the wealth of African citizens who reside on the continent. We calculated net worth using stock prices and currency exchange rates from the close of business on Friday, November 13.”

PUNCH.

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Concrete roads cheaper, more durable – Dangote http://9japroperty.com.ng/concrete-roads-cheaper-more-durable-dangote/?utm_source=rss&utm_medium=rss&utm_campaign=concrete-roads-cheaper-more-durable-dangote http://9japroperty.com.ng/concrete-roads-cheaper-more-durable-dangote/#respond Mon, 21 Sep 2015 11:53:17 +0000 http://9japroperty.com.ng/?p=3683 The Chairman of Dangote Cement, Aliko Dangote, has reiterated his plea to the Federal Government to urgently adopt concrete roads (made of cement and aggregates instead of bitumen) in the country. Africa’s richest man said it would be to the benefit of Nigerians if the government embraced the option of using concrete for roads in […]

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The Chairman of Dangote Cement, Aliko Dangote, has reiterated his plea to the Federal Government to urgently adopt concrete roads (made of cement and aggregates instead of bitumen) in the country.

Africa’s richest man said it would be to the benefit of Nigerians if the government embraced the option of using concrete for roads in the country. Aside from being very cheap, he said concrete roads were more durable with near zero maintenance cost.

Dangote said, “We are pushing for Nigeria to do concrete roads. It is cheaper to do a concrete road that will last 50 years than to do a bitumen road.

“It will also help in eliminating corruption, because if you go and build a bitumen road, it will have to be adequately maintained unlike a concrete road that is very durable.”

Dangote Cement, according to a statement, has just expanded its frontiers to Asia by constructing a three-million-metric-tonne per annum plant in Nepal as part of its investment of $4.34bn in 10 African countries.

The company is currently in 15 African countries, excluding Kenya, Niger and Mali, which are new projects, the statement added.

Its current total capacity stands at 48mmtpa, out of which Nigeria alone has the largest chunk of 29.3mmtpa.

Dangote had recently said, “We are not only building cement plants in Africa, we have gone far away to Nepal to build a three-million-metric-tonne cement plant capacity and by the time all these our new projects are completed in the next two years, Dangote Cement will have more than 70 million capacity, but we are not going to stop there; hopefully, by 2020, our targets is to get to somewhere around 100 million tonnes capacity.

“I can assure you that Africa will not lack cement now and even in the future. Africa will be self -sufficient rather than be a dumping ground for other manufacturers of cement.”

The new plants for which agreements were signed recently with Sinoma were the 3.0mmtpa in Nepal, 2.5mmtpa in Ethiopia, 3.0mmtpa in Kenya 1&2; 1.5mmtpa in Zambia; 1.5mmtpa in Senegal, 1.5mmtpa in Niger; and 1.5mmtpa each in Mali, Cameroon, Cote D’Ivoire and Ghana.

PUNCH.

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Dangote Cement empowers block makers in Lagos, Ogun http://9japroperty.com.ng/dangote-cement-empowers-block-makers-in-lagos-ogun/?utm_source=rss&utm_medium=rss&utm_campaign=dangote-cement-empowers-block-makers-in-lagos-ogun http://9japroperty.com.ng/dangote-cement-empowers-block-makers-in-lagos-ogun/#respond Wed, 01 Jul 2015 10:36:02 +0000 http://9japroperty.com.ng/?p=3324 Dangote Cement Plc says it has empowered block makers in Ogun and Lagos states with work tools as part of efforts aimed at making them to become more productive. According to the firm, the block makers were given items such as wheel barrows, shovels, rain boots and hand gloves in Badagry and Ibeju areas of […]

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Dangote Cement Plc says it has empowered block makers in Ogun and Lagos states with work tools as part of efforts aimed at making them to become more productive.

According to the firm, the block makers were given items such as wheel barrows, shovels, rain boots and hand gloves in Badagry and Ibeju areas of Lagos, and Agbara in Ogun State.

The Regional Manager, Marketing Services, Dangote Cement, Mr. Johnson Olaniyi, was quoted by a statement to have told the block makers that the gesture was one of the many incentives lined up by the company to help them boost their businesses.

He added that the donated items were to enable them attain the necessary standards necessary to ensure safety of buildings as well as curb the menace of sub-standard block making, which contributes to building collapse.

“Contrary to what some quacks are saying, cement block contributes to the safety and strength of a building hence the need to take great care in terms of the components used in moulding them,” he was quoted as saying.

Olaniyi added that the wheel barrows were meant to assist the block makers to get the right measurement and correct ratio in terms of cement, granite dust and sand, while the rain boots and hand gloves were for protective purposes.

He also advised the block makers to always sieve the sand they use in block making to remove all embedded debris, which could affect the strength of the blocks if retained, urging them to use water free from salt and oil contaminants to mould blocks.

According to the statement, Stephen Olarewaju who operates a block making factory lauded Dangote Cement for coming to their aid.

He was quoted to have said that it was a way of giving back to the block makers, who form a substantial portion of cement users.

According to him safety standards will improve because many block makers who are not using rain boots and hand gloves before now have them as gifts from Dangote Cement.

Another block maker, Alhaji Hodonu Sikiru, said the donation was a welcome development, which would help him and his colleagues.

He said a lot of the block moulders did not have wheel barrows, but just make assumptions when mixing sand and cement, adding that with the implement now in place, standards would improve.

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Dangote Cement targets 5,000 jobs with Senegal plant http://9japroperty.com.ng/dangote-cement-targets-5000-jobs-with-senegal-plant/?utm_source=rss&utm_medium=rss&utm_campaign=dangote-cement-targets-5000-jobs-with-senegal-plant http://9japroperty.com.ng/dangote-cement-targets-5000-jobs-with-senegal-plant/#respond Thu, 16 Apr 2015 12:11:44 +0000 http://9japroperty.com.ng/?p=3179 Dangote Cement Plc has announced the rollout of products from its $300m cement plant in Senegal amid excitement by the country’s government on the prospect of direct employment of about 5,000 locals by the company. The company noted in a statement that with the new plant, it hoped to improve Senegal’s cement production capacity with […]

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Dangote Cement Plc has announced the rollout of products from its $300m cement plant in Senegal amid excitement by the country’s government on the prospect of direct employment of about 5,000 locals by the company.

The company noted in a statement that with the new plant, it hoped to improve Senegal’s cement production capacity with an additional 1.5 million metric tonnes, while serving an export market demand of two million metric tonnes along the Mali boarder.

It expressed optimism that it would be able to penetrate the market with at least 1.2 million metric tonnes of cement before end of 2015.

The Country Head, Dangote Cement, Senegal, Mr. Luk Haelterman, was quoted as saying that the company’s plant was near completion but had commenced production to fill the demand gap in the country, especially with its 42.5 grade of cement.

He said, “Despite being a saturated one, the company has potential for growth, both for local consumption and export, with the introduction of the new cement grade in the region.

“The last few years have seen the company overcoming a lot challenges in the country, especially those related to the smear campaign on environmental impact of the factory in the country. It is a saturated market with Dangote being the third entrant in the market after two other cement manufacturers.

“What has kept us going is the competitive edge that our 42.5 grade of cement has given us in offering consumers fine quality of cement. Our corporate social responsibility activities have improved and we believe that the plant will be exemplary in community matters.”

According to the statement, the establishment of the cement plant by Dangote is the single largest investment in Senegal by an African and the Senegalese government has promised to protect the company to achieve its optimal production capacity.

It added that both the Nigerian Ambassador to Senegal, Katyen Jackden; and Senegal’s Director of Mines, Ousmane Cisse, commended the doggedness of the Chairman of the Dangote Group, Alhaji Aliko Dangote, in seeing the plant through despite various setbacks.

“The new plant, located in Pout district of Senegal, about 75 kilometres east of Dakar, the country’s capital, has a nominal capacity to produce 4,000 metric tonnes per day and 1.2MT per annum. The plant is expected to create more than 5,000 jobs, with a total production capacity of 1.5 million metric tonnes annually,” the statement added.

Jackden explained that Dangote had, through his investments in African countries, built bridges of friendship across nations, fostering unity and integration among African countries.

Haelterman also noted that the company’s entrance into the Senegalese market had altered the equation in the cement market.

“Senegal, with a population of 14 million people, is a market with ever growing demand for cement because quite a lot of construction activities are going on. There were two existing cement plants before Dangote came on board. But today, Dangote has become the biggest and best because we remain the only company producing the 42.5R, which is better than what we met on ground, which is the 32.5R,” he was quoted as saying.

The Chief Operating Officer of the plant, Athanasios Bampos, said the location of the factory was not only rich in limestone but also in clay and laterite, which are the major components for cement manufacturing.

PUNCH.

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Dangote commences cement production in Cameroon http://9japroperty.com.ng/dangote-commences-cement-production-in-cameroon/?utm_source=rss&utm_medium=rss&utm_campaign=dangote-commences-cement-production-in-cameroon http://9japroperty.com.ng/dangote-commences-cement-production-in-cameroon/#respond Wed, 08 Apr 2015 08:36:02 +0000 http://9japroperty.com.ng/?p=3114 The management of Dangote Cement Plc has said that its planned consolidation of the African expansion drive remains on course with the commencement of production of its $150m Cameroon plant in Douala. The company said in a statement on Tuesday that the commencement of production in the Cameroonian commercial city came in the wake of […]

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The management of Dangote Cement Plc has said that its planned consolidation of the African expansion drive remains on course with the commencement of production of its $150m Cameroon plant in Douala.

The company said in a statement on Tuesday that the commencement of production in the Cameroonian commercial city came in the wake of the inauguration of another 1.5 million tonnes capacity per annum Senegal plant in Pout in January.

The company had last year listed six plants across five African countries for completion this year.

The plants, according to the President and Chief Executive, Dangote Group, Aliko Dangote will add about 13.5 million metric tonnes of cement per annum to the existing capacity upon completion.

The plants are located in Zambia, with 1.5mmtpa capacity; Tanzania, 1.5mmtpa; South Africa, 3mmtpa; Republic of Congo, 1.5mmtpa; Gabon, 1.5mmtpa; and Senegal, 1.5mmtpa

Back home in Nigeria, Dangote Cement ramp up capacity, adding third and fourth production lines to the existing 6mmtpa in Ibese, Ogun State, to bring the total capacity to 12mmtpa, and another 3mmtpa line is currently being added to the Obajana Cement Plant in Kogi State.

Dangote told a delegation from Organised Private Sector, who visited him in his office in Lagos, that the 1.5mmtpa plant in Cameroon commenced initial production at one million tonnes per annum before it would be stepped up to the maximum capacity level.

He stated that the Douala plant would revolutionise the cement industry in Cameroon and help stimulate the Western African economy as Dangote Cement would be churning out its 42.5 quality grade of cement at a very competitive price.

Dangote explained that the plant remained the most modern in Cameroon because of the latest technologies used in its construction from Germany, United States and France by the renowned plant engineering firm, Sinoma.

He stated that the company started by importing clinker and that production was being carried out in the most environmental friendly level, pointing out that the dust emission by the plant was lower than the 50mm international standard.

He promised that Dangote Cement as a law abiding organisation would play by the rules of the land and that it would replicate its robust corporate social services in the host community.

On the economic benefit of the plant, Dangote stated that over 1,000 people would be employed directly, while 5,000 others would benefit from the indirect employment to be generated by the production activities of the plant.

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SON approves Dangote Cement quality measures http://9japroperty.com.ng/son-approves-dangote-cement-quality-measures/?utm_source=rss&utm_medium=rss&utm_campaign=son-approves-dangote-cement-quality-measures http://9japroperty.com.ng/son-approves-dangote-cement-quality-measures/#respond Mon, 15 Dec 2014 16:19:58 +0000 http://beta.9japroperty.com.ng/?p=1901 Dangote Cement Plc said the Standards Organisation of Nigeria had approved the quality, environmental and safety measures put in place by the company and some business units of the Dangote Group and certified them accordingly. According to a statement signed by the Group Managing Director of Dangote Cement Plc, Mr. Devakumar Edwin, the business units […]

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Dangote Cement Plc said the Standards Organisation of Nigeria had approved the quality, environmental and safety measures put in place by the company and some business units of the Dangote Group and certified them accordingly.

According to a statement signed by the Group Managing Director of Dangote Cement Plc, Mr. Devakumar Edwin, the business units were certified for quality management, occupational, health and safety as well as environmental management system.

He added that the company

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CORBON to partner Dangote Cement in housing delivery http://9japroperty.com.ng/corbon-to-partner-dangote-cement-in-housing-delivery/?utm_source=rss&utm_medium=rss&utm_campaign=corbon-to-partner-dangote-cement-in-housing-delivery http://9japroperty.com.ng/corbon-to-partner-dangote-cement-in-housing-delivery/#respond Fri, 05 Dec 2014 16:07:18 +0000 http://beta.9japroperty.com.ng/?p=1839 The Council of Registered Builders of Nigeria has indicated interest to partner Dangote Cement Plc for effective and efficient delivery of Federal Government’s housing scheme. The Chairman of the council, Prof. Kabir Bala, according to a statement by the company, said during a visit to Dangote Cement, Obajana Plant that there was a need for […]

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The Council of Registered Builders of Nigeria has indicated interest to partner Dangote Cement Plc for effective and efficient delivery of Federal Government’s housing scheme.

The Chairman of the council, Prof. Kabir Bala, according to a statement by the company, said during a visit to Dangote Cement, Obajana Plant that there was a need for partnership with the company, adding that the collaboration would be “project specific”.

Bala said he was impressed by the success recorded at the plant, adding, “We want to see Dangote-CORBON housing scheme. We are also interested in the training aspect.”

The CORBON Registrar, Dr. Peter Kuroshi, was also quoted as saying the 40 per cent slash in cement prices by Dangote had provided an opportunity to embark on a collaborative mass housing scheme that would bring down rental fees in the country.

Obajana Plant Director Mr. JV Gungune who explained the production process, said he would forward CORBON’s requests to the appropriate quarters.

According to the Operations Manager, Mr. Haruna Adinoyi of the Obajana Plant said with Line 4 on stream, the Obajana plant alone produces 13.25 million metric tons annually while the Dangote Cement Plc controls 62 per cent of the market share in the country.

He however said the country’s cement consumption was still very low compared to South Africa, while he described the Obajana cement plant as the single largest plant in the world.

The Dangote Cement Regional Director Sales Mr. Johnson Olaniyi, said with the new brands of cement introduced by the company, it was tackling the menace of re-bagging by the fraudsters and to prevent collapse building in the country.

The statement also said the President of the Lagos State Chapter of the Nigerian Institute of Quantity Surveyors, Mr. Olayemi Shonubi, who led members and students of the institute on a facility visit to the Ibese plant of the Dangote Cement in Ogun State at the weekend, had argued that three or four of Dangote in Nigeria would have made a huge difference in the economy.

He called on business men across the country to emulate the President of Dangote Group, Alhaji Aliko Dangote, by investing in real manufacturing concerns as a way out of the current drop in crude oil prices and global economic downturn.

Shonubi was quoted as saying that most businessmen in the country were traders and that the economy needed entrepreneurs who would invest in manufacturing.

He noted that all countries being referred to as developed were industrialised nations and did not develop through trading.

Shonubi said that more of manufacturing plants in various sectors of the economy would help the nation especially with the current drop in crude oil prices which had made nonsense of the nation’s revenue and currency value.

He also called on the government to urgently see to the formulation of policies that would encourage manufacturing so that more investors could join the Dangote Group and use investment in manufacturing rather than trading as an effective mechanism to industrialise the country.

PUNCH.

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