Dangote Group’s contribution to the Nigeria’s GDP is significant and unprecedented, Governor Abba Kabir Yusuf of Kano State has said.
Governor Yusuf said this at the 52nd Joint AGM of the Manufacturers Association of Nigeria (MAN) in Kano State.
The Governor who was represented by the Kano State Commissioner for Commerce, Hon. Adamu Aliyu Kibiya, said the African conglomerate has also been adjudged the biggest employer of labour in the private sector.
Dangote Group is one of the sponsors of the just concluded MAN’s 2024 AGM and Exhibition in Kano State.
He said through his numerous investments and wealth creation effort, Nigeria’s economy has been growing.
Governor Yusuf who visited the company’s pavilion said its social intervention programmes have been very impactful.
According to him, the Dangote Refinery alone has the potential to reverse the Nigeria’s foreign exchange crisis through drastic reduction in the demand for forex for the importation of petroleum products.
In his speech, the chairman of MAN Bompai and Jigawa branch Alhaji Mohammed Bello Isyaku Umar stated that the association was proud of the Dangote Group’s productivity and huge social investments.
Corroborating Governor Yusuf, only recently, a report stated that the Dangote Oil Refinery has the capacity to grow the country’s GDP to $322bn by 2025.
The report, titled ‘Impact of Dangote Refinery on the Nigerian Economy’, which was released by Data Services & Resources Ltd, indicated that without the refinery, Nigeria’s GDP was expected to grow by 3.34 per cent in 2024, increasing to 4.13 per cent by 2030.
It noted that with the refinery in operation, GDP growth was projected to rise to 4.15 per cent in 2024 and reach 6.21 per cent by 2030.
The report also stated that Nigeria’s GDP at current market prices would increase from N234.43tn in 2023 to N304.8tn in 2024, with further growth to N364.94tn in 2025.
It added that by 2026, GDP was projected to hit N432.24tn, climbing to N806.91tn by 2030