President of the Dangote Group, Alhaji Aliko Dangote has announced that before the end of this year, the Dangote Cement plants in Obajana, Kogi state, will revert to the use of coal as power.
Dangote, who spoke today, Thursday at the 44th Annual General Meeting of the Manufacturers Association of Nigeria (MAN), advised private sector of the nation’s economy to be more innovative in the current recession.
He gave emphasis to diversification, which he said, is the only hope for the country to get out of the economy crisis.
“Diversification is no longer an option, it has now become the only hope,” Dangote declared.
Dangote who was the Guest Speaker at the AGM urged the government to lay emphasis on increasing the tax base and not tax rate.
“For example in India and Sudan, zero taxation is applied to their agricultural sectors to incentivize investments,” he said.
This was even as President Muhammadu Buhari extolled the contribution of Aliko Dangote and the manufacturers to the economic growth of the country. The President stressed that the private sector is a key to the development of the Nigerian economy. [myad]
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