Africa’s richest man and most successful industrialist, Aliko Dangote, on Moday revealed the secret of his business success: self-sufficiency and backward integration, a manufacturing strategy that extracts value from entire processes.
“We are not going to import anything any longer,” Dangote said, in the presence of Nigerian vice-president Professor Yemi Osinbajo, Congolese presidential hopeful Moise Katumbi, and about 300 business leaders.
He made the disclosure At the Financial Times’ 4th annual Africa Summit at Claridges in London.
“In Nigeria we are learning how to produce the entire value chain,” Dangote added.
Once a heavy importer of fertiliser, Nigeria is now gearing up to produce 3M tonnes of locally manufactured fertiliser, transforming the nation into one of the largest fertiliser exporters in Africa.
In 2007 Nigeria…
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