Dangote – Companies owe profit to society

Chairman of Dangote Foundation, Alhaji Aliko Dangote, speaking as guest speaker
at the national conference on the Role of Corporate Social Responsibility (CSR) in
Poverty Reduction and Economic Development in Nigeria, in Abuja recently, reminded
participants that, “CSR is no longer about giving out funds for charity purposes in a
community where one operates but rather, it is all about identifying various needs and
meeting them. It includes projects aimed at reducing poverty and stimulating economic
development.”

The Chief Executive Officer (CEO) of the Dangote Group charged companies to view community needs as
opportunities to develop ideas, evolve technologies and serve new markets.

He enumerated the philanthropic activities of the Dangote Foundation both within and outside Nigeria.

According to him, the Foundation in March, signed a N20 billion Memorandum of Understanding (MoU) with
the Bank of Industry (BoI) to set up of a Micro, Small and Medium Enterprises (MSMEs) fund under which
the Foundation has already paid N5 billion.

Dangote regretted that lack of access to funds is militating against the growth of MSMEs.

He said the Foundation has donated N100 million to victims of the Sokoto State flood in 2010; N25 million
worth of food items and N50 million cash to flood victims in Jigawa State; and N50 million and N20 million to
sufferers of Jos and Bauchi crises respectively.

Similarly, the Foundation donated materials worth N120 million to famine victims in Niger Republic even as
$2 million was donated through the United Nations World Food Programme (WEP) in September 2010 for
survivors of flood ravaged Pakistan.

Apart from donating N1 billion for the building of the Turai Yar’adua international cancer centre in Abuja, he
said the Foundation donated dialysis centre to Lagos Island General Hospital, Lagos.

At the end of the conference, participants called on government to move away from recurrent expenditure to
capital expenditure in budget allocation.

The conference called for the enactment of a law governing CSR so companies will be compelled to
integrate CSR as a business strategy rather than corporate philanthropy and that measurable indicators be
set up so as to evaluate CSR implementation in Nigeria.

Participants were happy that more knowledge had been added to their experience

Author: nmmin

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