The Organised Private Sector (OPS) has been urged to maintain a strong commitment to the Federal Government’s diversification policy to foster sustainable economic growth, more so now that Nigeria has exited recession.
The President, Dangote Group, Aliko Dangote, who said this during the Group’s Special Day at the ongoing 2017 Lagos International Trade Fair (LITF), argued that diversification is vital for economic growth and social development given the country’s resource endowments.
He hinted that diversification is the success secret of the Dangote Group, through which it has added value to every sector of the economy with a variety of products across social segments.
Dangote, who was represented by the Executive Director, Stakeholders Management and Corporate Communications, Dangote Group, Ahmed Monsur, said the Group is already working on its 10-year plan of not only becoming the largest conglomerate in Africa, but also one of the top 20 in the world.
He said: “We at Dangote have remained committed to a diversified economy, particularly with the resources God has blessed Nigeria with which has led us to be involved in every sectors of the economy through our products.
“We are committed to this because we believe that is what the Nigerian society needs so that our economy can grow because we feel if the economic growth is basically a custom of value addition. If you are not adding value to your economy or your output that means you are stagnant,” he said.
The President, Lagos Chamber of Commerce and Industry, (LCCI), Dr. Nike Akande, commended the Dangote Group for its commitment towards the growth of the economy through diversification.
Akande said more efforts needed to be done by the government to provide a conducive environment for trade to flourish for the benefit of the economy and Nigerians.
She appreciated the government’s effort on the improvement of the nation’s position in the World Bank’s Ease of Doing Business Ranking from 169 in 2016 to 145 in 2017.