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Dangote Cement production hits 30mmt across Africa

By on May 7, 2015

Aliko Dangote, president, Dangote Group, has disclosed that the Dangote Cement annual production across Africa now stood in the region of 30 million metric tons (mmt), a feat that is earning Nigeria respect among the comity of nations.

Speaking at the just concluded Kaduna International Trade Fair, Dangote said “his conglomerate plans big for the African economy,” saying Africans must look inward and put their human and natural resources to best uses, rather than political conflicts.

Dangote, who was represented by Mansur Ahmad, Group’s executive director, said the Group’s cement production had since surpassed Nigeria’s average total consumption of around 20mmt, saying Nigeria under-consumed the cement product when compared with other African, Asian and European countries.

The company has commenced production of the cement in some African countries like Senegal, Cameroon and South Africa, he said, noting that by the time it completes its projects in 11 other African countries, the conglomerate’s total production would have surpassed 50mmt.

Currently, Dangote Cement in Nigeria controls about 65 percent market share, and about 30 percent of the Nigerian Stock Exchange (NSE).

The investment in other African countries, according to him, is strategic and is aimed at supporting governments across the continent by creating thousands of jobs for the people, as his involvement in petrochemicals, fertilisers and petroleum refining is another bold step at helping to reduce poverty in Africa through promotion of gainful employment and that on completion of all the projects there will be massive employment opportunities.

The commencement of refinery and other petrochemicals will make Nigeria to become independent, as the present development where Nigeria has to depend on other countries for refined products despite huge crude resources was unacceptable, he said.

While commending the organisers of the trade fair, he expressed optimism about Nigeria’s economic rebound, saying that both outgoing and incoming leaders have done Nigerian proud by ensuring that the country remains peaceful for businesses to thrive.

The conglomerate is investing heavily in petroleum sector, fertiliser and agriculture to make Nigeria self sufficient in food production.

A council member of the Kaduna Chamber of Commerce Industry Mines and Agriculture (KADCCIMA), Rakiya Musa, who spoke earlier on behalf of KADCCIMA, commended the support of the Dangote Group to both the chamber and to the Nigerian economy.

She said “what Nigeria needs at this crucial moment of her life is more of the Dangote’s in her economy, as most Nigerian businessmen are traders and not entrepreneurs, which Nigeria economy requires.”

 

[Business Day]