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Chairman of Dangote Sugar Refinery Plc, Aliko Dangote, has said that the National Sugar Master Plan (NSMP), when executed as designed, could fetch the nation foreign exchange in excess of $700million yearly from the backward Integration component of the plan.
Dangote, who disclosed this while receiving in his office some businessmen who were on a visit to Dangote Sugar in Lagos,however warned that the BIP scheme must be protected to insulate the Nigerian economy to be able to achieve the twin objectives of local manufacturing and job creation.
He said:“If the national sugar master plan is followed strictly and the players all follow the rules, the country will be better for it as Nigeria will save between $600 million and $700 million annually as foreign exchange.
Dangote also said that the Dangote Group is scaling up its social intervention in communities hosting its companies across the country.
He said efforts were being made to impact positively on the host communities saying his companies had expended billions of naira in states where these investments are located.
He explained that the corporate social responsibility projects undertaken by his companies were in addition to efforts by his Foundation, Aliko Dangote Foundation, which is presently giving out micro-grants to vulnerable women in all the 774 local governments across the country.
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