Aliko Dangote, president, Dangote Group, has described Nigeria as the world’s best kept secret in investment terms, revealing that the country offers good returns on investment.             

  Speaking in an exclusive interview with Cable News Network (CNN), Dangote reiterated his determination to continue investing in the country with the hope of creating more jobs and also assisting the government towards achieving economic growth and development. According to him: “I’m feeling fulfilled that at least I am doing something great for my country. Nigeria is really the best place to invest. It is one of the best places to make money. All over the world it is the best kept secret actually in terms of investment.”

Dangote is one of the largest private sector employers in Nigeria, with a nationwide workforce of over 12,000, a figure that is set to rise with the opening of new factories. He told CNN that he was motivated to create an African success story and to create huge employment in Nigeria because of his belief that entrepreneurship holds the key to the future economic growth of the continent. He also said he is committed to improving the conditions of those living close to his factories, as part of his philosophy of corporate social responsibility.

CNN’s I-List, which takes viewers to a different country each month, focused on Nigeria in September, highlighting changes shaping the country’s economy, culture and social fabric as it celebrated 50 years of independence. Dangote further revealed that with the plans by Obajana Cement Plant to double its capacity, opportunities will abound once more for eligible Nigerians to be gainfully employed. Obajana Cement Plants, it would be recalled is one of the largest cement plant in the world.

The Dangote Group is a diversified and fully integrated conglomerate with interests across a range of sectors such as cement production; sugar refining; flour milling; pasta production; sack manufacturing; salt production; port operations; and haulage. The group also has interests in oil and gas, real estate and other sectors of the economy.

The President, Dangote Group, Aliko Dangote, who has built a flourishing business empire with 13 subsidiaries spread all over Nigeria as well as nine African countries, is ranked by Forbes as one of the richest black African citizens in the world. Little wonder, the brand Dangote is a household name. The group started originally as a small trading firm in 1977, importing foodstuffs such as sugar, flour and construction materials and later diversified its operations. The group’s business strategy is to provide local, value-added products and services that meet the ‘basic needs’ of the Nigerian population. Dangote has a wide variety of leading brands such as Dangote Cement, Dangote Sugar, Dansa range of fruit juice and Dangote Noodles. Through the construction and operation of large scale manufacturing facilities in Nigeria and across Africa, the Group is focused on building local manufacturing capacity to generate employment, prevent capital flight and provide locally produced goods for the people.

The group has four of its subsidiaries that are listed on the Nigerian Stock Exchange (NSE). They include Obajana Cement Plc (Dangote Cement Plc)/Benue Cement Company Plc (BCC); Dangote Sugar Refinery Plc; Dangote Flour Mills Plc and National Salt Company of Nigeria Plc. Meanwhile, despite the downturn currently being experienced by equities on the Nigerian Stock Exchange (NSE), investors in the four companies under the Dangote Group that are listed on the Exchange received a dividend of N21.225 billion as dividend for the year ended December 31, 2009. While many companies have not been able to declare dividend due to their poor financial performance as a result of the difficult operating environment, companies under the Dangote stable have enhanced the liquidity position of shareholders with a dividend of N21.225 billion in 2009.

According to the annual reports and accounts of the listed companies, Dangote Sugar Refinery paid a dividend of N12 billion, which translates into N1 per share, BCC paid N3.9 billion, which also translates into a dividend of N1 per share. NASCON paid a dividend of N1.325 billion, amounting to N0.50 per share, while Dangote Flour Mills is set to pay N4 billion translating into N0.80 per share. The company had already paid an interim dividend of N1.5 billion (N0.30) while shareholders are expected to approve a final dividend of N2.5 billion (N0.50 per share) after its forthcoming annual general meeting (AGM).