The president of Dngote group who is already into rice, sugar and tomato farming is planning to develop dairy plants and develop home-grown milk production as he seeks more ways of ensuring Nigerians don't go hungry as the population increases drastically. Research has shown that Nigeria spends about $1.3 billion annually on the importation of dairy products and the Dangote’s intervention is expected to at address this issue.
He said: "We have marked massive dairy production for the next three years. We cannot solve all Nigeria's problems, but at least we can embrace and add value to areas where we have comparative advantage". The 60 year-old business man plans to breed 50,000 cows in 2018 and produce 500 million litres of milk a year starting from 2019.
According to Foraminifera Market research limited(FMRL), "Presently, the local production of milk is less than 1 percent of the total annual demand that has been estimated at 1.2bn litres, making the total milk consumption in Nigeria less than 10 litres per head, whereas the global average is about 40 litres per head".
It has been estimated that about 500,000 cows and between 300,000 and 400,000 hectares of land are required to meet the national demand of the country, However Africa's richest man has boldly taken up this responsibility for the benefit of the country.
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