Dangote To Own 50,000 Cows, Produce 500m Litres Of Milk By 2019

-
Aliko Dangote, president of Dangote Group, will own 50,000 cows by 2019, and produce 500 million litres of milk per year.

The group, principally owned by Africa’s richest man, plans to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years.

According to World Health Organisation (WHO) estimates, Nigeria needs about 1.5 billion litres of milk annually.

US department of agriculture also puts Nigeria’s “insufficient” milk import at $225 million per year, stating that the country’s dairy market has a potential in excess of $3 billion.

With Dangote’s drive, the group will produce a third of the country’s ideal demand and nearly all of its current import.

According to Bloomberg, the company seeks to expand and deal with a shortage of dollars needed to import raw materials.

The conglomerate plans to increase its production of sugar to 1.5 million metric tonnes a year by 2020 from 100,000 tons now and is seeking to add 1 million tonnes of rice.

In an interview on Tuesday, Edwin Devakumar, executive director at Dangote, said lack of foreign exchange means companies need to invest in local agriculture to help meet demand for food from Nigeria’s population of more than 180 million.

“All raw sugar has to be imported today, same thing for flour milling,” Bloomberg quoted Devakumar to have said.

Dangote, whose cement unit is Nigeria’s biggest listed company, has been investing in agriculture as the country’s government seeks to diversify away from oil, which accounts for 90 percent of the nation’s export earnings and the bulk of revenue.
read more here>>

The economy, which plunged into its first recession in a quarter-century last year amid falling crude prices, is forecast by the World Bank to expand by 1.2 percent this year.

Dangote plans to cultivate 350,000 hectares (864,850 acres) of land for sugar cane and add 200,000 hectares for rice, according to Devakumar.

The company has ordered five plants for sugar milling and 10 for rice from Switzerland to be located in the north of the country, he said.

Comments

Post a Comment

Popular posts from this blog

Postharvest Technology Businesses for MSMEs across sub-Saharan Africa

-
Image
Key Facts(GROUNDNUTT ENGINE):EMMYBLOG Bountifield’s solution is based on a one-to-many approach, allowing them to reach millions more people with technology. In Malawi, their technology includes a manual sheller and an imported motorized sheller for peanuts. In Senegal and other countries, their technology includes an Ewing Multi-Crop Grinder, which is a multi-functional burr mill technology. In Kenya, their technology includes an imported motorized multi-crop thresher for sorghum, millet, green grams and pigeon peas, and rice. Bountifield has a plan to positively impact 10 million African people by 2030 with their solution. Key Features Bountifield addresses the gap in postharvest technology markets and the consequent food loss that occurs from manual labor in processing food throughout Africa. Our solution is not the sale of one tool, but our ability to develop small-scale agro-processing businesses with: a) a portfolio of Bountifield-approved tools; b) tailored training and services...
Read more

Problems in Agriculture: Loss of Land and Decreased Varieties

-
Image
Lesson Transcript Learn about agriculture, the science of farming to raise animals and grow plants used in the production of food and other products, such as leather. Explore problems faced by farmers, including loss of land and decreased varieties of animals and plants produced. Understand how these problems impact the production of food and other farm products. Problems in Agriculture Think about how much food you eat each day. Now, think about how big the human population is and how much food is needed to feed all of those people. Since the development of agriculture, most of the food needed to feed the population has been produced through industrialized agriculture. Since the 1960s, the amount of food produced through this type of agriculture has increased drastically, and currently there is enough food produced to feed every human on Earth. Although industrialized agriculture has been successful in producing large quantities of food, the future of food production is in jeopardy du...
Read more