Africa’s Richest Man To Invest $2.3 Billion In Plan To Fight Boko Haram

World Economic Forum on Africa 2011

Africa’s richest man, Aliko Dangote, has announced plans to invest $2.3 billion in rice and sugar production in Nigeria’s northern region in a bid to combat poverty and insurgency.

Dangote, who was speaking today during a plenary session at the World Economic Forum currently being held in Abuja, Nigeria, said that creating jobs was a crucial way of putting an end to the insurgency that has plagued the northern region in the last few years. Nigeria’s northern region has been a base for terrorist camps, particularly the Boko Haram Islamic sect, which recently claimed responsibility for the kidnap of more than 200 school girls from a Government-owned High school in Chibok, Borno state in Nigeria.

Dangote, who is worth $24.5 billion also announced to the forum that his company would invest $16 billion in Africa over the next four years, with the bulk of the money -$12 billion to be invested in Nigeria.

In a related development, Chinese Premier Li Keqiang has promised further investment in Africa. Speaking during a keynote address during the forum earlier today, Kegiang announced that China had set aside $2bn for an African Development Fund and promised delegates that China’s support for Africa was non-conditional, stating that the country would not interfere in the internal affairs of African countries.

The World Economic Forum on Africa is toke place in Abuja, Nigeria from the 7th – 9th of May.

Posted on May 13, 2014, in News. Bookmark the permalink. Leave a comment.

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