How I convinced Dangote to establish cement factory in Nigeria – Obasanjo

Former President Olusegun Obasanjo, has disclosed how he convinced business mogul, Aliko Dangote to start producing cement in Nigeria.

Obasanjo narrated that Dangote had urged him to make cement production profitable for him so he could establish factories in Nigeria.

Speaking during the Bauchi State Investment Summit on Tuesday, the former president revealed that during his early stage, Dangote informed him that it was more profitable to import cement than to produce.

Following this discussion, Obasanjo said he called his then Minister of Industry to facilitate the agenda discussed and ensure the establishment of his factory in Nigeria.

He said: “And he (Dangote) said to me, do you want an honest answer? I said if I call you here, I want an honest answer, that’s why I’ve called you. He said because it’s more profitable for me to import cement than for me to produce cement, which is an honest answer.

“Then I asked him the second question. I said what can I do to make you produce cement? He said again ‘you want an honest answer?’ I said yes. He said make it profitable for me to produce cement.

“It is profitable for me to import cement and sell. Again, I haven’t got where I was going or he was leading me. I said how do I do that? He said tie my importation of cement with my production of cement. My head got it. I said you can go.

“I called my minister for industry, who also came from the private sector. I said, look I’ve had this discussion with Aliko. Come and go and work it out.”