Dangote Industries Limited (DIL) has recently announced that its pan-African operations have generated a significant revenue of $687,977 million for Nigeria. The company further disclosed that it has successfully repatriated over $576.009 million through various Nigerian banks. Dangote Cement Plc and Ethiopian Airlines established a cash swap agreement of $111.968 million, effectively saving the equivalent amount that the Central Bank of Nigeria (CBN) would have paid.
In a statement provided to the press, Dangote reiterated its unwavering commitment to Nigeria, commending President Bola Tinubu’s administration for demonstrating the determination and resolve needed to revitalize the economy.
“We have immense faith in Nigeria and Africa as a whole. Our investments are genuine and authentic, and we welcome any investigation into our foreign exchange transactions over the past decade. We urge relevant agencies to bring to light any perceived infractions,” emphasized Dangote.
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Dangote firmly asserts that all foreign exchange purchases made for its African Project Expansion were legitimate and utilized entirely for their intended purposes. The projects, for which the foreign exchange was allocated, proudly stand as visible evidence of their implementation.
“It is worth noting that the commissioning of these projects was attended by high-ranking Nigerian government officials, CEOs of prominent banks, industry leaders, and the Presidents of host countries, accompanied by their senior government officials. Both local and international media extensively covered the commissioning ceremonies. Furthermore, there exist printed and electronic copies of these events, serving as further testament to the prudent utilization of the funds,” Dangote explained.
Dangote Industries Limited remains resolute in its dedication to contributing to Nigeria’s growth and the prosperity of Africa, solidifying its position as a trusted and responsible business entity.
