Aliko Dangote Discards  Planned Steel Investment in Nigeria

Aliko Dangote, African Billionaire and director of Dangote Industries Limited , has unveiled that he will never again go on with plans to enter Nigeria’s steel industry.

His disclosure comes two months after his organization said it was making arrangements to put resources into the steel business.

Tending to columnists at his treatment facility in Lagos this end of the week, Dangote said the association’s board chose to stay away from the steel business “to forestall allegations of being marked a syndication”.

“You know, about doing another business which we declared, or at least, steel. As a matter of fact, our board has concluded that we shouldn’t do the steel since, supposing that we do the steel business, we will be called a wide range of names like restraining infrastructure,” he said.

“And afterward additionally, imports will be empowered. So we would rather not go into that.

“Assuming that you take a gander at every one of our tasks at Dangote (Group), we add esteem; we take neighborhood unrefined components and transform them into items, and we sell.

“We have never deliberately or unwittingly prevented anyone from doing likewise business that we are doing.

“At the point when we originally came into concrete creation, it was just Lafarge that was working here in Nigeria… No one at any point called Lafarge a syndication,” he said.

He said marking the Dangote Group of Companies as monopolistic is dampening.

“Syndication is the point at which you stop individuals, you block them through legitimate means. No, it is a level battleground by which anything that Dangote was given in concrete, for instance, others were given since some of them even got more than us,” he added.

Dangote urged Nigerians to put resources into the business to assist with supporting the nation’s economy.

“Let different Nigerians proceed to make it happen. We are by all accounts not the only Nigerians here. There are a few Nigerians with more money than us,” the very rich person said.

“They ought to bring that cash from Dubai and different regions of the planet and put resources into our country”.