Following a recent global survey that declared Nigeria as having the potential to lead the continent in terms of growth by the year 2020, the President of Dangote Group, Alhaji Aliko Dangote, has said that all his group investments and others in the manufacturing sector would be tailored towards increased job creation for gainful employment to alleviate poverty among the people.
Specifically, he said over eight million additional jobs would have been created by the year 2020, If current projections for value-added growth in manufacturing were allowed to thrive.
Dangote, who is a member of the National Economic Management Team, said in Lagos on Friday that what Nigerians needed most at present was economic empowerment so that both working population and others, including self-employed or engaged could be economically empowered.
He said, “The McKensey report is very instructive, it says that half of the 30 million jobs in African manufacturing offer wage paying employment, a higher share than most sectors. If current projections for manufacturing value-added growth hold, it is estimated that that the sector will create eight million more stable jobs by 2020.”
According to him, the transformation agenda of the Federal Government will perfectly key into projection of the report if the private sector participates effectively in the economic turn-around measures.
Speaking against the background of a report on Africa’s growth and job creation by Mckensey Global Institute, which described Africa as the second fastest growing region in the world with decline in poverty, Dangote said all hands must be on deck to ensure the dream of Nigeria’s economic turn-around became a reality.
He, therefore, urged that local investors should complement the efforts of the Federal Government at ensuring the success of the economic agenda by taking manufacturing as one of the means of empowering Nigerians through job creation.
According to the report, entitled, “Africa at Work: Job Creation Year”, published in August by Mckensey and Company, Africa is the second-fastest-growing region in the world with decline in poverty.
The report portrayed Africa as harnessing its natural wealth, with sectors across the economy growing.
According to the report, Nigeria, for example, enjoys abundant natural gas and a growing local construction industry, comparative advantages that have already brought some major private-sector success stories.
“Dangote Cement Plc has benefited from Nigerian gas to become Africa’s largest cement producer and today meets about half of Nigeria’s cement needs. From this domestic base, it is already expanding into other African markets, including Cameroon, Ethiopia, Senegal, Tanzania, and Zambia,” it noted.
However, the report indicated that Nigerian manufacturing was described as still facing a range of obstacles, including weak infrastructure and logistics bottlenecks, and removing these would allow similar success stories to emerge.
Dangote then advised the Federal Government to take the advantage of analysis of the state of agriculture, manufacturing, retail and hospitality sectors, which said could accelerate employment and growth.
He added that these sectors had the potential to create up to 72 million wage-paying jobs across by 2020.
According to Dangote, capturing this potential will move Africa closer to matching the job-creation trajectory of South Korea and other successful emerging markets.