Africa’s richest man and president of Dangote Group, Ahaji Aliko Dangote, plans to own 50,000 cows by 2019, and produce 500 million litres of milk per year.
The group, intends to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years.
According to World Health Organisation (WHO) estimates, Nigeria needs about 1.5 billion litres of milk annually.
US department of agriculture also puts Nigeria’s “insufficient” milk import at $225 million per year, stating that the country’s dairy market has a potential in excess of $3 billion.
With Dangote’s drive, the group will produce a third of the country’s ideal demand and nearly all of its current import.
