‘Dangote Cement’s $600m Investment To Increase Nigeria’s Export’

The President of Dangote Industries Limited, Alhaji Aliko Dangote, has said that the company’s $600 million investment in cement production will go a long way in increasing Nigeria’s export to other African countries.

Dangote said his Group’s commitment to Nigeria’s economic development through continuous innovation, value creation and investments is unwavering.

He disclosed that Dangote Cement’s exports to other countries are targeted to rise annually, with the management intensifying efforts at actualizing the planned increase. “Our massive investments in Nigeria’s economy is borne out of firm belief in her vast economic potential.

“By next year we will be the largest exporter of cement in sub-Saharan Africa with about $600 million worth of cement export to other African countries with limited access to limestone. In addition to that, we also have new terminals coming up at Onne and in Lagos and we are hopeful the congestion at Apapa will soon be behind us helping us meet our export targets.”

Dangote, who spoke at the 2018 Cement Distributors’ Award Night held in Lagos, said that Dangote Group is committed to ensure that Nigeria becomes self-sufficient in all the sectors where it operates, such as cement, agriculture, mining and petroleum.

“Let me reiterate that our continuous efforts to innovate, create value and invest in Nigeria are borne out of our firm belief in the vast economic potential of Nigeria. This has also informed our desire to invest massively in agriculture in some states across the country. Our target is to ensure that Nigeria becomes self-sufficient in all the sectors where we play; cement, agriculture, mining and petroleum. We are leaders in all the sectors where we play, and this demands continuous improvement and partnership with you, our customers.”

“We are front-runners in keying into the diversification of the economy by the Government. We have continued to roll out massive agricultural projects across the country. We have started in rice, while plans are underway for dairy farming.

Our push for backward integration in providing our own raw materials on a massive scale has led to the planned investment of $4.6 billion over the next three years in sugar, rice and dairy production alone. That will eliminate the country’s reliance on imported food, and the foreign exchange outflow that comes with it,” he added.

Dangote, who commended the award winners for their commitment, noted that the ceremony was to celebrate the Group’s valued customers and distributors for their unflinching partnership in ensuring that Dangote cement products remained the first choice for construction purposes across the country.

Post Author: Friday Ekeoba