President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has called on Lotus Capital Limited to increase its support for Nigeria’s real sector by financing critical areas of the economy. The call comes as the financial institution plans to expand its financing activities across agriculture, real estate, renewable energy and industry. The Managing Director and Chief Executive Officer of Lotus Capital, Hajara Adeola, said the company’s next phase of growth would focus on building stronger partnerships with businesses, ranging from small and medium-sized enterprises (SMEs) to large industrial groups such as the Dangote Group.
Speaking at the 20th anniversary celebration of Lotus Capital Halal Investments in Lagos over the weekend, Adeola said the objective was to develop financing solutions that could meet businesses’ long-term capital needs and strengthen the role of non-interest finance in economic development. She highlighted the company’s contributions to Nigeria’s non-interest financial services industry over the past 20 years, particularly its efforts to promote investment options that comply with Islamic principles. Adeola also said Lotus Capital intended to move closer to the real economy through innovative financing products, including technology-driven solutions, to support businesses, increase production and create employment.
Also speaking, Lagos State Governor Babajide Sanwo-Olu, represented by the Permanent Secretary of the Ministry of Finance, Mahmud Tajudeen Alao, said the growth of non-interest finance was becoming increasingly important to Nigeria’s financial system. He noted that Lagos, as the country’s leading commercial and financial centre, needed diverse sources of capital to sustain its development plans. Alao said financial institutions had opportunities to mobilise long-term investments in infrastructure, housing, manufacturing, technology, renewable energy, agriculture and small businesses.
In his goodwill message, Dangote urged the company to increase its involvement in financing manufacturing plants, agricultural processing facilities, infrastructure, industrial parks, ports, renewable energy projects and transportation networks. He also encouraged Lotus Capital to strengthen Nigeria’s corporate market as a source of long-term financing for industrial development. He recalled that when Lotus Capital began operations, non-interest finance was still emerging in Nigeria, with conventional banking and capital market instruments dominating the financial sector and limited investment options available to those seeking Sharia-compliant alternatives.
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