Dangote VP, NASCON chief advocate larger funding in industrial hubs

The Vice President of Dangote Industries Limited (DIL), Olakunle Alake, and the Managing Director/Chief Executive Officer of NASCON Allied Industries Plc, Aderemi Saka, have known as for larger funding in industrial hubs and worth addition to speed up Nigeria’s financial progress, strengthen native manufacturing and improve the competitiveness of home industries.

Speaking on the CEO Forum of the thirty second Nigerian Economic Summit in Abuja, Mr. Alake, who was represented by Isa Yusuf Aruwa, mentioned Dangote Group was taking the lead in selling industrial hubs as catalysts for financial progress, citing the proposed Dangote Olokola Industrial Hub in Ondo State as a key instance of the Group’s dedication to industrial improvement.

He mentioned co-locating companies would allow them to realize economies of scale, scale back operational prices, generate extra employment alternatives and facilitate information sharing.

“An integrated industrial hub offers the opportunity to address several constraints together: energy, logistics, manufacturing infrastructure and access to markets. But the wider economic benefits will depend on how deliberately we connect the investment to the surrounding economy,” he added.

He mentioned the “wider success of an industrial hub will be measured by the productive
businesses that grow around it.”

According to him, giant industrial corporations can help smaller companies by means of technical mentoring, provider assessments, apprenticeships, entry to testing and clearly structured procurement alternatives.

Meanwhile, talking on ‘Productivity Revolution for Growth’ the Managing Director of NASCON Allied Industries Plc, Mrs. Aderemi Saka known as for a complete overview of the manufacturing worth chain, notably the sourcing of uncooked supplies, packaging inputs and different important elements required for seamless manufacturing.

“Where do the raw materials come from. Do we have small companies that can produce them locally and add value to bigger businesses. Do we have the capacity to source raw materials on a large scale to ensure seamless production?” she requested.

Saka additionally defined the significance of equipping employees with the technical {and professional} expertise required to drive productiveness in a quickly evolving industrial setting.

She defined that the Dangote Group, below the management of its President and Chief Executive, Aliko Dangote, stays dedicated to nurturing younger Nigerian expertise by means of structured coaching programmes and focused capacity-building initiatives.