{"id":340427,"date":"2024-10-01T05:44:14","date_gmt":"2024-10-01T04:44:14","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=340427"},"modified":"2024-10-01T05:44:14","modified_gmt":"2024-10-01T04:44:14","slug":"we-invested-over-25bn-in-oil-cement-sugar-in-7-years-dangote","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2024\/10\/01\/we-invested-over-25bn-in-oil-cement-sugar-in-7-years-dangote\/","title":{"rendered":"We Invested Over $25bn in Oil, Cement, Sugar in 7 Years \u2013 Dangote"},"content":{"rendered":"<ul class=\"marker:text-textOff list-disc pl-8\">\n<li><strong>Aliko Dangote announced over $25 billion investments in Nigeria&#8217;s oil, gas, cement, and sugar sectors, showcasing confidence in African opportunities<\/strong><\/li>\n<li><strong>Dangote emphasized the need for a gradual transition to renewable energy, addressing Africa&#8217;s immediate energy needs with existing resources<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>Africa\u2019s richest man, Aliko Dangote, has revealed that his conglomerates have invested more than $25 billion in Nigeria\u2019s oil and gas, cement, and sugar sectors over the past seven years.<\/p>\n<p>Speaking at the recently concluded 79th United Nations General Assembly (UNGA 79) in the US, Dangote highlighted the investments as a signal of confidence to others that investing in Nigeria and, by extension, Africa is feasible.<\/p>\n<p>\u201cWe need to show the world that there are many opportunities in Africa, and the sky\u2019s the limit. Yes, there are challenges, but they are solvable,\u201d Dangote remarked.<\/p>\n<p>He expressed his long-term vision of making Africa self-sufficient, aiming to reduce the continent&#8217;s dependence on imported goods and services.<\/p>\n<p>Dangote also shared that he prefers to be remembered for contributing to Africa\u2019s future rather than just for his wealth.<\/p>\n<p>Discussing the global shift from fossil fuels to renewable energy, Dangote acknowledged that transitioning away from oil will take considerable time.<\/p>\n<p>He pointed out that while renewable energy is the future, Africa\u2019s immediate energy needs, especially for its 600 million people without electricity, must be addressed with existing resources like natural gas and coal.<\/p>\n<p>\u201cTransitioning doesn\u2019t happen overnight. It would be catastrophic if we were to move directly into renewable energy. We still need oil, natural gas, and coal to meet today\u2019s needs,\u201d Dangote said.<\/p>\n<p>He added that oil remains crucial as it is used to produce over 6,800 different items, making it difficult to find a swift replacement.<\/p>\n<p>Looking forward, Dangote reaffirmed his company\u2019s commitment to investing in <a href=\"https:\/\/www.withinnigeria.com\/news\/2024\/09\/01\/we-must-adopt-renewable-energy-to-combat-climate-change-sanusi\/\">renewable energy<\/a>.<\/p>\n<p>He mentioned that after building a refinery, a fertilizer plant, and other industrial projects, his conglomerate should expand into renewable energy.<\/p>\n<p>\u201cWe are already transitioning from fossil fuel to compressed natural gas (CNG), and we intend to lead in renewable energy opportunities in the future,\u201d Dangote concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aliko Dangote announced over $25 billion investments in Nigeria&#8217;s oil, gas, cement, and sugar sectors, showcasing confidence in African opportunities Dangote emphasized the need for a gradual transition to renewable energy, addressing Africa&#8217;s immediate energy needs with existing resources Africa\u2019s richest man, Aliko Dangote, has revealed that his conglomerates have invested more than $25 billion [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":265899,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored 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