Dangote Industries Limited (DIL) announced that its pan-African operations have contributed $687.977 million to Nigeria’s economy. The company disclosed that it has repatriated $576.009 million through various Nigerian banks, along with a $111.968 million cash swap arrangement between Dangote Cement Plc and Ethiopian Airlines, effectively saving the equivalent Central Bank of Nigeria (CBN) fees,leadership report.
This information was shared in an official statement provided to the media. Dangote emphasized its commitment to Nigeria and expressed confidence in the government led by President Bola Tinubu, which has displayed the determination to revive the economy.
Dangote reaffirmed its belief in Nigeria and Africa, underscoring the authenticity of its investments. The company also called upon relevant authorities to scrutinize its foreign exchange transactions spanning the last decade and make any identified irregularities public.
The company insisted that all foreign exchange acquired for its African Project Expansion were used as intended, and the results of these investments are readily visible. Dangote pointed out that many of these projects were inaugurated by high-ranking Nigerian government officials, attended by CEOs of various banks, industry leaders, and the Presidents of host countries, supported by their senior government officials.
The commissioning events for these projects were extensively documented and received coverage from both local and international media. Additionally, print and electronic records of these ceremonies serve as further evidence of the responsible utilization of funds.