President of Dangote Group, Mr Aliko Dangote, yesterday urged the Federal Government to make improvements in the manufacturing sector and build alternative seaports.
Dangote gave the advice at the New Partnership for Africa's Development (NEPAD) Business Group Lunch in Lagos.
The business magnate, who was represented by Mr Joseph Makoju, the Managing Director, Dangote Group, bemoaned the over-dependence on crude oil in the country.
President of Dangote Group, Mr Aliko Dangote, yesterday urged the Federal Government to make improvements in the manufacturing sector and build alternative seaports.
Dangote gave the advice at the New Partnership for Africa's Development (NEPAD) Business Group Lunch in Lagos.
The business magnate, who was represented by Mr Joseph Makoju, the Managing Director, Dangote Group, bemoaned the over-dependence on crude oil in the country.
He said that the manufacturing sector needed to be upgraded to a level where there would be competition in the production of basic needs within the country .
“We will only be able to enjoy the dividends of Foreign Direct Investment if Africans and Nigerians are taking the lead in the sector.
“There is need for the establishment of durable industrial clusters, long-term development funds, rehabilitation of major roads, rail, and alternative seaports.
“Import tariff should also be increased in the areas where we have comparative advantage, and the menace of smuggling needs to be urgently tackled,’’ he said.
Dangote said that the involvement of the Dangote Group in the cement industry had moved Nigeria from being a net-importer of cement to being a net-exporter of the product.
He commended the Federal Government for the Backward Integration Policy which, he said, had helped to boost some aspects of manufacturing in the country.
NAN reports that the Business Confidence Index report of the Lagos Chamber of Commerce revealed that the manufacturing sector scored 5 per cent.
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