July 21, 2024 11:19 amAliko Dangote, chairman of Dangote Industries Limited, says the company will no longer continue with plans to enter Nigeria’s steel industry.
Addressing journalists at his refinery in Lagos on Saturday, the billionaire said the organisation’s board decided to avoid the steel industry “to prevent accusations of being branded a monopoly”.Advertisement “When we first came into cement production, it was only Lafarge that was operating here in Nigeria… Nobody ever called Lafarge a monopoly,” he said.“Monopoly is when you stop people, you block them through legal means. No, it is a level playing field whereby whatever Dangote was given in cement, for example, other people were given because some of them even got more than us,” he added.Dangote, however, encouraged Nigerians to invest in the industry to help boost the country’s economy.