In a statement to journalists, Dangote Industries Limited (DIL) has disclosed that its pan-African operations have contributed significantly to Nigeria’s economy, repatriating a total of $576.009 million through various Nigerian banks. Additionally, a cash swap arrangement of $111.968 million between Dangote Cement Plc and Ethiopian Airlines has saved the Central Bank of Nigeria (CBN) a similar amount.**
The statement reiterates Dangote’s commitment to Nigeria and Africa, emphasizing its belief in the potential of these regions. Dangote praises the government under President Bola Tinubu for its determination to revitalize the economy.**
Dangote Industries Limited further calls on relevant agencies to investigate its foreign exchange (FX) transactions over the past decade, urging transparency in any discovered infractions. The company insists that all FX purchases for African project expansions were genuine and properly utilized for their intended purposes. These projects are reportedly visible and have been inaugurated by high-ranking government officials, bank executives, industry leaders, and the presidents of host countries, with media coverage providing evidence of their successful utilization.**
The company’s statement underscores its commitment to responsible and impactful investments in Nigeria and across Africa, contributing to economic growth and development.**
