Cleric Urges Dangote Not to Abandon Plan to Float Steel Plant in Nigeria

Emmanuel Addeh in Abuja

The Vicar and Archdeacon of Ikoyi Anglican Communion, Folorunso Agbelusi, has urged Africa’s richest person, Alhaji Aliko Dangote, not to abandon his ambition to establish a steel company in Nigeria.
Agbelusi spoke recently at Our Saviour’s Church, Tafawa Balewa Square, Lagos, while presiding at the thanksgiving service to celebrate the 90th birthday of elder statesman and culture icon, Mr. Frank Abiodun Aig-Imoukhuede.

Aside from Dangote, others at the event included: Governor of Lagos State, Babajide Sanwo-Olu; Governor of Ogun State, Dapo Abiodun; Chairman of Zenith Bank, Jim Ovia; and former Governor of the Central Bank of Nigeria (CBN), Joseph Sanusi; among other dignitaries.
The cleric told Dangote, who was seated on the front row with other dignitaries, to proceed with the plan and not be deterred by naysayers.

‘’I want to address our brother, Alhaji Aliko Dangote, who is here with us… and to plead with him not to go back on whatever good plans he has about Nigeria. Sir, that investment in steel you have been thinking about, please, don’t abandon the idea.
“Nigeria is counting on you. Your investments are not for this generation alone. Don’t abandon the country…’’, the vicar and archdeacon said.

Dangote had previously announced that he would no longer proceed with his plans to invest in the building of the steel plant in Nigeria because of the alleged frustrations he suffered in the hands of government officials while trying to get his $20 billion refinery and petrochemical complex to commence production.

Dangote was particularly miffed by the decision of government’s regulatory agencies to push for fuel importation despite his refinery’s capacity to meet domestic consumption with excess for export.
However, Dangote did not have the opportunity to respond to the cleric.
Lack of investment in Nigeria’s steel industry is one of the reasons the nation’s industrial base has not grown.

As a major input in industrial production, steel is required in construction, infrastructure, building, manufacture of tools, ships, trains, among others.
Nigeria imports $4 billion worth of steel yearly, according to the Minister of Steel, Shuaibu Audu.
“The president wants us to reverse this trend; he wants to ensure that most of the steel consumed in Nigeria is produced locally to reduce pressure on foreign exchange,’’ the minister reportedly said.