I Hope Oil Prices Remain Low - Aliko Dangote Tells UN Assembly

Dangote

Africa’s richest man Aliko Dangote said on Wednesday in New York that he is hoping oil prices will remain low to wean Nigeria away from its dependence.

He said agriculture should be the focus of government, as well as gas and minerals, in an effort to diversify the economy.

"Agriculture, agriculture, agriculture. Africa will become the food basket of the world,” he said.

The businessman made the remarks at the headquarters of global law firm Shearman and Sterling LLC high level business leaders and international diplomats, New York.

Dangote, who was invited to the event by the Corporate Council for Africa, conversed on Africa’s opportunities and challenges alongside the Rwandan president, Paul Kagame.
Both leaders underscored the ongoing movement to diversify African economies.

In the case of Nigeria, Africa’s largest economy, Dangote stated ”we should pray that oil prices remain low. This helps wean us off the dependency on revenues from petroleum. We must take oil to be the icing on the cake. We already have the cake”

In addition to agriculture, Dangote cited Nigeria’s vast mineral resources and the need to manufacture more goods locally for domestic consumption.