Dangote receives important message as he stops plan to invest in major industry in Nigeria

Legit.ng journalist Ridwan Adeola Yusuf has over 9 years of experience covering public economic matters.

FCT, Abuja - Shehu Sani, a former senator who represented Kaduna Central in the national assembly, has pleaded with Aliko Dangote to reverse his decision not to invest in Nigeria's steel industry.

Legit.ng reported that Africa’s wealthiest man, Dangote, declared that his company would discontinue its plans to build a steel manufacturing firm.

Dangote has cancelled plans to invest in a new steel plant in Nigeria following government accusations of monopolistic intentions. Photo credits: Aliko Dangote, Shehu Sani
Source: Facebook

Dangote stated that the company’s board decided against the plan not to be labelled monopolistic, adding that the allegations of trying to monopolise businesses in Nigeria have become a significant discouragement.

Reacting, Sani casually wrote on his verified X (formerly Twitter) handle on Monday, July 22:

"Dear Dangote,"I know you are angry, but please rescind your decision not to invest in Nigeria’s steel industry. Your investment will create thousands of jobs for our young people and help in the industrialisation of the country. Don’t mind those old folks. Thank you."

It would be recalled that in June, Alhaji Dangote said his company plans to delve into steel production in the near future stating that he wants to ensure that every steel used in West Africa comes from Nigeria.

He noted that the next venture after the refinery project would be in steel manufacturing and ensure that all steel products used in West Africa come from Nigeria. However, that seems to have changed with the billionaire businessman's latest pronouncement.

Source: Legit.ng