The President and Chairman of Dangote Industries Limited, Aliko Dangote, has shared five fundamental truths in Industrialising Nigeria.

Dangote gave the insight this week during the official national launch of the National Industrial Policy 2025 in Abuja, themed “From Policy to Productivity: Implementing Nigeria’s Industrial Future.

First, Dangote called on the Federal Government to urgently convene a national retreat to resolve Nigeria’s persistent electricity crisis, warning that widespread power outages are undermining the country’s industrialisation drive and economic growth.

Dangote emphasised that without stable electricity, Nigeria would struggle to create jobs, drive industrial productivity, or achieve sustainable economic growth.

“One of the things that I want to advise Your Excellency, Mr Vice President, is to call a national forum where we will have a one- or two-day retreat and resolve the issues of power. Because without power, Mr Vice President, there is no way in any country you can create growth or create jobs. So, power means growth. No power, no growth. So we must make sure that we tackle this issue,” he said.

Second, Dangote stressed that policy incentives alone were insufficient without strong infrastructure and protection of domestic industries.

“But one thing that we need is not only the policy. The policy is there. If you look at the incentives that we have for people to invest in Nigeria, actually, they are even more than what we need. The only thing that is remaining is the protection of industries.”

According to him, excessive importation remained a major threat to local manufacturing. “Even if you give us zero-interest loans, free land and power, if there is no protection, there is no way any industry will thrive here. Importation of anything is importation of poverty and exportation of jobs,” Dangote stated.

Third, Dangote also highlighted the dominance of the private sector in Nigeria’s economy, urging stronger collaboration between government and businesses.

“Nigeria is the only country in Africa where the private sector is bigger than the government. When you look at GDP, the private sector contributes almost 90 percent, compared to the government’s 10 percent,” he said.

“We have what it takes to create massive consumption, massive industry, and disposable income.

Fourth, Dangote added that entrepreneurs must also support national development by paying taxes and complying with regulations.

“When we do our business, we must pay our taxes. It is a joint venture. The government is the major shareholder in every business. Today, the government makes more money in our cement business than anybody. But that is okay, so far they allow us to expand and prosper.”

Dangote further said recent economic reforms had improved investor confidence and currency stability. “With the policies that this government has implemented, people are beginning to see the results. Manufacturers are happy.

The stability of the currency is encouraging investors to come into Nigeria,” he said.

He projected that the naira could strengthen further if import dependence is reduced.

“We should manufacture what we consume. That is the only way to create jobs. If we block unnecessary imports and support local production, the naira will get stronger,” he said.

Photo: Governor Dapo Abiodun

OGUN State Governor, Dapo Abiodun said today: ” The Federal Government is siting the largest dairy and cattle ranches in Nigeria at Ipokia and Yewa South Local Government Areas, with an initial capacity of 5,000 herds of cattle.”

The governor made the announcement during the All Progressives Congress (APC) Strategic Stakeholders Meeting at the Cultural Centre, Kuto, Abeokuta, noting that the initiative is part of broader efforts to strengthen food security, boost local agricultural production, and deepen value chains across the state.

“The biggest dairy and cattle ranches will soon be established in Yewa South and Ipokia. This is at the instance of Mr. President. These farms will start with 5,000 herds of cattle, and work will begin very soon,” Abiodun said.

He commended President Bola Ahmed Tinubu for his economic reforms, highlighting their role in stabilising the foreign exchange market, eliminating multiple exchange-rate regimes, and boosting Nigeria’s foreign reserves to about $45 billion.

Abiodun also praised the President for consistent support towards Ogun State, including approvals for projects such as the Sagamu–Ijebu Ode Road reconstruction, funding of the Eba oil discovery, and resuscitation of OKLNG.

“Whenever investors express interest in Nigeria, President Tinubu often directs them to Ogun State. His leadership has rekindled hope among Nigerians at home and in the diaspora,” the governor said.

Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, says that twelve states have so far adopted tax reform and harmonised the new acts with their laws.

Oyedele disclosed this during a presentation at the National Economic Council Conference in Abuja, yesterday.

Oyedele said that besides the 12 states, 13 states have the bills in their houses of assembly, while 11 states are in the final stages of presenting the bills.

He said it was important for the states to adopt and harmonise the new tax laws with their state tax laws to avoid multiple taxation.

He advised state governors to grant their internal revenue agencies autonomy.

“Let us stop using consultants to collect taxes. It undermines our ability to do what is right. The new tax law says you cannot use consultants to do the routine work of the tax authority and its autonomy must be guaranteed,” he said.