President to the Dangote Group, Alhaji Aliko Dangote, has said that he will invest $2.3bn (£1.35bn) in sugar and rice production in the north of the country.
The Africa’s richest man also told the World Economic Form in Abuja yesterday that his company would invest a total of $12bn in Nigeria, and $4 billion outside the country, over the next four years. The Dangote Group has interests stretching from cement to food.
Also at the Forum yesterday, the Republic of China also promised further investment in Africa. Chinese Premier Li Keqiang gave a speech in which he pledged “no strings” support for an African plan to develop a continent-wide high speed rail network.
He said China had set aside $2bn for an African Development Fund.
But he promised that China would not interfere in African nations’ internal affairs, a reference to the West, which often attaches human rights and democracy conditions to financial aid.
