Aliko Dangote, President of the Dangote Group, has called on both federal and state governments to prioritise homegrown investors as a strategic step towards attracting foreign capital and stimulating economic development.
Speaking at the Taraba International Investment Summit held in Jalingo, Dangote stressed that foreign investors are more likely to show interest in Nigeria when they observe local entrepreneurs thriving and receiving governmental support.
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He noted that domestic investors attract foreign investors, saying, “The only way for you to attract foreign investments or investors is by having local investors.
“If you don’t invite local investors to come and invest, no foreigner will come and invest. Foreigners are attracted only when they see prospects for investment. Once they see that, yes, things are flowing, you don’t have to invite them, they will come,”
Highlighting the fiscal impact of local investment, Dangote revealed that the federal government earns a substantial share from its cement operations.
“For every N1 that we turn around, 52 kobo goes to the federal government of Nigeria. So, that’s the benefit. When the government facilitates, they give you what it takes to create your own business. What we should do, also, is behave and pay our taxes.
“So, I want to encourage the government to continue to encourage investment, especially domestic investment. If you encourage, you have more investment. If you don’t encourage, there will not be jobs,” he maintained.
He added that when the government provides the necessary environment for businesses to thrive, companies should, in turn, act responsibly by fulfilling tax obligations.
Dangote further encouraged authorities to provide more support for local investment initiatives, noting that such efforts directly influence job creation and sustainable development.
He praised Governor Agbu Kefas for hosting the investment summit, describing it as a vital step in opening up Taraba State to new economic opportunities.
He said the state’s wealth in natural resources and fertile land makes it a promising hub for agricultural investment.
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“This is home, and we are committed to investing here. We’re not going elsewhere — we’ll continue to generate employment here,” Dangote affirmed.
Also speaking at the summit, the Chairman of United Bank for Africa (UBA), Tony Elumelu, expressed his institution’s interest in supporting investment opportunities in Taraba State.
