The President of Dangote Group, Alhaji Aliko Dangote, has advised federal and state governments to prioritise support for domestic investors as a strategy to attract foreign direct investment (FDI) into the country.
Dangote gave the advice at the Taraba International Investment Summit held in Jalingo, which brought together investors from across Nigeria and beyond.
He said no foreign investor would be interested in a country where local businesses were not thriving.
“The only way to attract foreign investment is to have local investors. If you don’t encourage domestic investors, no foreigner will come and invest,” he said.
According to him, foreign investors are drawn to environments that show visible signs of economic potential and active local participation.
Dangote also revealed that the Federal Government earns significant revenue from the Dangote Cement business.
“For every N1 we generate, 52 kobo goes to the federal government. This shows that when businesses are supported, they pay taxes and contribute to national development,” he said.
He called on the government to continue creating an enabling environment to promote entrepreneurship and job creation.
Dangote commended Gov. Agbu Kefas for organising the investment summit and expressed his readiness to invest in Taraba.
“Taraba State is richly endowed with natural resources and arable land. We will invest in Taraba. This is home, and we will continue to create jobs,” he added.
Also speaking, the Chairman of United Bank for Africa (UBA), Mr Tony Elumelu, expressed commitment to partnering with the Taraba State Government in its development initiatives.
