He said the investment would create 180,000 new jobs.
Dangote spoke as a member of a discussion panel at the ongoingWorld EconomicForum ( WEF) on Africa in Abuja on Thursday, expressing the belief that highunemploymentrate was the major cause of terrorism in the country.
He, therefore, stated that such investment would create jobs as a way of ending insurgency inthe zone.
The Africa's richest man said he would invest a total of $12billion dollars in Nigeria and $4billion in other
parts of Africa in the next five years.
While stressing that Nigeria was blessed with numerous business opportunities, he said he would exploit them to counter terrorist activities in the country.
Dangote also said that he would not have invested in the country if the atmosphere was not conducive, saying, "I have investments in different parts of the country.
"We are even going to invest in Adamawa, where there is Boko Haram. Creation of jobs will stop Boko Haram. We plan to invest $16 billion in the next five years. This would create 180, 000 jobs."
The business magnate regretted that one majorchallengefacing the African continent was the tendency of Africans to invest overseas, saying: "Africans should learn to trade within."
According to him, "You have to keep your money here so that foreigners can come. If we import, we import poverty and export jobs. This is why over the next six years, I would be focusing on building refineries and investing in agriculture."
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