Why We Sold Flour Mill in Nigeria – Dangote

The CEO of the Dangote Group and the richest man in Africa, Aliko Dangote, has given an explanation for the decision his firm made to sell up its flour factory in Nigeria in 2019.

In Lagos on Saturday, Dangote disclosed this information to reporters.

The industrialist claimed that the flour mill promoted a large amount of wheat imports into the nation, which is contrary to the Dangote Group’s basic principles.

Dangote stated that his company operates to add value to every part of Nigeria’s economy, adding that the importation of wheat only creates jobs for the countries where the wheat is produced.

He said that while his flour mill was the second leading mill in Nigeria, he had to sell it off to stop heavy importation into the country.

“Whatever we do at Dangote, we have value. We are not packaging plants. If you look at all our operations at Dangote, we actually add value.

“We take local raw materials and turn them into products and we sell, which means it’s a circular economy. Everything is here in Nigeria.

“It’s the same reason why we are number two in flour mill, but we sold it because the wheat is being imported from abroad so the more wheat we used, the more jobs we create out there. That’s why we cancelled that.

“We remain only in sugar. Salt is not really a very big business. That’s what we’ve done,” Dangote said.