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Dangote Group Targets $30b Revenue In Two Years Featured

Written by  Jan 14, 2020

Dangote Group is said to be targeting a turnover of $30 billion for its businesses in the next two years.

Speaking with the media, weekend, Aliko Dangote, owner of the Group, noted that though the company’s annual turnover was about $4 billion before now, but with the completion and running of the refinery, fertilizer, petrochemicals and other businesses, the company’s turnover would be in the region of $30 billion in the next two years.

Dangote lauded the Federal Government’s efforts in the agricultural sector, saying “We have massive arable land; we have water; we have the right climate, so the population growth does not really make me nervous.

“I think the government is doing well by focusing more on the agricultural sector. We just have to tilt towards agriculture and manufacturing as against our oil-reliant economy.”

He praised the government’s drive in getting more revenue from taxes, noting that the restructuring of the nation’s tax system will generate more revenue for the government.

According to him, “60 per cent of the government revenue is coming from oil but the government is doing quite a lot to diversify the economy by trying to restructure the tax system because we need to make more money from taxes because as it is now, the tax generation in Nigeria is a bit low but the government is on the right track with these innovations.”

Expressing optimism that Nigeria will be certified a polio-free nation by April, he said: “We have done quite a lot. The progress has been very tremendous in the last three years, we haven’t really had any wild virus of polio and by April, we will be certified to be a polio-free country, which means the entire, African continent will be polio-free.”

It will be recalled that Dangote, was recently said to be $4.3 billion richer in 2019 with his business investments in cement, flour and sugar.