The Federal Government has applauded the efforts of the Chairman of Dangote Cement Plc., Aliko Dangote at revitalizing and growing privatized companies, despite huge challenges in the Nigeria’s business climate.
The Minister of National Planning, Shamsudeen Usman, gave the commendation during his visit to the Dangote Cement Plant in Gboko, Benue State, where he said the Federal Government was proud of Dangote Group’s efforts and achievement as an indigenous conglomerate in transforming some of the privatized companies.
“The whole essence of privatization is to improve efficiency, promote investments and boost employment and I believe Dangote Cement is doing very well in this regard” he said.
The minister said that the visit was important in ascertaining the true state of privatized public enterprises, especially in view of public perception that many of them were under-performing.
During the Minister’s visit, the plant director, Prakash Sharma, highlighted the $500 million investments made by Dangote Cement in upgrading the former Benue Cement production capacity from 0.9 Metric Tonnes Per Annum (MTPA) to 3.0 MTPA, and an additional $50 million currently invested in the on-going expansion project to raise capacity to 4.0 MTPA.
Dr. Shamsuddeen called on all host communities of privatized companies to cooperate with and encourage the new owners to maximize productivity, boost industrialization and employability and in the end add value to the lives and wellbeing of these communities.
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