The president of Dangote Group, Aliko Dangote has said it will no longer invest in Nigeria’s steel sector to avoid being labelled a monopolist.
Dangote said this in a statement on Saturday, noting that widespread allegations of trying to monopolise every industry in Nigeria has become a major disincentive.
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“Our own board has decided that we should not do the steel because if we do the steel business, we will be called all sorts of names like monopoly,” Africa’s richest man said.
He noted that imports will be encouraged should he invest in the steel sector, which could hamper his company’s objectives.
Dangote shelves steel investment plans amidst monopoly concerns
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