Dangote Group plans to invest $3.8 billion in sugar and rice and additional $800 million in dairy production in the next three years.
The conglomerate plans to increase its sugar production to 1.5 million metric tons a year by 2020 from current 100,000 tons.
Executive director at Dangote industries, Edwin Devakumar, said in Lagos that the company also plans to have 50,000 cattle producing 500 million liters of milk a year by 2019.
Dangote plans to cultivate sugar cane on 350,000 hectares of land.
The backward integration moves are to safeguard the company against foreign exchange crisis.
Good and brilliant idea to free Nigerians from food Crisis if vigorously and sincerely pursued!.
Other rich Nigerians should follow suit!.