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African Industries Group has been widely covered by the media on various aspects including its new business ventures, contribution to Nigerian economy, COVID-19 support and other CSR activities

How AIG’s $2bn investment is driving economic growth in Nigeria

July 2, 2024

For over five decades, the African Industries Group (AIG) has been driving the economic revolution that could put Nigeria at the global stage with top performing indices across key sectors of the economy. In their 52 Years of operations in Nigeria, AIG has established 35 Manufacturing Plants, built 11 Business Verticals that have employed more than 10,000 Nigerians. Within the last 20 years, AIG has been able to build an investment portfolio in Nigeria that is worth over $2 billion. The Chairman of AIG, Mr. Raj Gupta told the media recently that although, time could be a key factor for the success of AIG in Nigeria, the group’s success is attributable to deliberate steps that they have taken. According to him, “from the onset, we decided to run an inclusive and sustainable business model that not only benefit stakeholders but also positively impact the environment and society.” He explained that the strategy of continual investment in Nigeria which they employed over the last few decades have integrated the group deeply into the domestic economy, and have positioned them to contribute to the overall industrial development of Nigeria. “We currently have the largest non-oil FDI investment in Mining and Steel Processing, and are the largest Iron and Steel Manufacturer, as well as the largest manufacturer of high purity refined lead in Nigeria. “We are also the market leader and most trusted brand for Aluminium products, exclusive distributor of world-renowned brands of engineering tools and pioneer in flat sheet glass manufacturing in the country as well,” Gupta disclosed. Within the last five decades of engaging in responsible business practices, the Group has evolved into a driving force in various sectors in Nigeria, with interests in Mining, Metals, Power, Decoratives, Logistics, Farming, Chemicals, Consumer Durables, Engineering Products, Research and Development, and Packaging. Power In the last two decades, AIG has been at the forefront of Nigeria’s energy evolution, focusing in recent times on renewable energy. From generation, transmission to distribution, AIG has been providing total energy solutions to numerous customers. So far, the company have 145 Mega Watts of installed thermal power plant capacity, and have completed 11Mega Watts of Solar power projects across the country. According to the Chairman of AIG, the Group has been supplying power to Nigeria’s National Grid since 2016. It is also on record that it was AIG that commissioned the first solar power project supplying power to industry in Nigeria. “We are at the forefront of supporting the energy needs of Nigeria and at the same time supporting its sustainability future. We are leading Nigeria’s sustainability future and have reduced 9,655MT CO2 equivalent emission/ annum which is also equivalent to planting 44,000 trees,” he said Mining Also in the mining sector, AIG has been identified as a key contributor to current efforts being put into the development of Nigeria’s mining sector. From Exploration, Mining, Beneficiation to Trade, Gupta said AIG has made a commitment for continues offer of social and economic benefits to all stakeholders in the Mining Value Chain (MVC). The company has invested over US$600 Million in iron ore mining and steel processing, making it one of Nigeria’s largest non-oil foreign direct investment (FDI). Currently, AIG has over 5 million tonnes per annum iron ore mining capacity, with over 60,000 Meters drilled across multiple states in Nigeria. Gupta said the Group through its iron ore mining business line has created over 4,000 Direct and In-direct job opportunities for Nigerians across various lines of professionalism. “We are committed to driving Nigeria’s socio-economic development, leading employment generation in rural areas.” “In specific terms, our Iron ore mining and processing plant will reduce steel scrap usage and reduce the import of steel thus helping to reduce pressure on the country’s foreign exchange needs” Gupta said. According to him, the usage of Direct Reduced Iron (DRI) produced by the firm will improve productivity and efficiency of steel plants in Nigeria, adding also that it will position Nigeria as one of the prominent Crude Steel producers in the world. Metals AIG has one of the largest production capacities for steel, aluminum, and lead products in Nigeria. The group has the capacity to produce over 26,000 Metric tonnes of refined lead every year. “We are not only one of the largest manufacturers of various metal products but also the most quality conscious and sustainable in its processes,” Mr. Gupta said. He also pointed out that, AIG runs the most environmentally friendly operations, noting that “we are continuously working on waste reduction and emission control. “We also undertake scrap recycling with European standards, Our Aluminum roofing sheets are environmentally friendly containing a large percentage of recycled matter. They are also recyclable, making them a rare waste in landfills,” he said. In Chemicals, AIG has earned the reputation of being a leading supplier and manufacturer of quality chemical products and Industrial gas in the West African region. The group has one of the largest combined production capacities in Nigeria for various types of Chemicals. It has state-of-the-art production facilities and a varied product portfolio catering to diverse industries. Giving details on this, the Group’s Chairman said, “Our state-of-the-art Double Conversion and Double Absorption (DCDA) process is used to produce Sulphuric Acid. Our Sulphuric acid is used mainly by battery companies, fertilizers, steel industry, refineries, power plants, oil & gas sectors as industrial catalyst to facilitate chemical reactions. “Liquid and solid sodium silicate produced at AIG is used by soaps and detergents manufacturers, Tiles, Mining, and steel industries. We have a premium quality caustic soda that is used across industries like glass, paints, cosmetics, ceramics, Paper, pulp, and cellulose production. “Just to also mention that ALUM manufactured by AIG is the most efficient and effective purification agent for treatment of wastewater. It is used in various waterworks across Nigeria. It is also used in the Paper Industry for purification and paper sizing,” he added. Speaking on the core values that drive AIG’s innovations and quality pursuit, AIG’s Director, Legal Services, Ms. Chiamaka Okeke said, said, “The POWER of AIG are the principles and priorities that guide our actions.” AIG has instituted a number of Social Impact projects, as a way of giving back to the society, which according to Okeke are centered on Community Development, Health and Hygiene as well as Women Empowerment. Since 1972, AIG, a diversified global conglomerate has been at the frontline, promoting Nigeria’s quest for excellence and sustainable growth, contributing to the country’s socio-economic and industrial growth. With footprints across all sections of the country, evident by traces of viable investments in Maiduguri, Kano, Kaduna and Abuja in the North, to Owerri, Asaba and the country’s economic hubs of Lagos, Ogun and Rivers states in the Southern part of Nigeria.

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