Dangote Cement Plc has said it will open export facilities in Lagos and Port Harcourt this year, and attract $700m foreign exchange into the Nigerian economy.
The Chairman, Dangote Cement, Aliko Dangote, disclosed this on Monday at the company’s 10th Annual General Meeting in Lagos.
Dangote said the company would be effectively operating in at least 18 African countries in a short while by increasing the capacity of its Obajana Plant to 16 million metric tonnes, making it one of the biggest cement plants in the world.
He said, “Sales of cement from our Nigerian plants increased by 11.4 per cent to 14.2 million metric tonnes in 2018. Our Pan-African operations contributed 9.4 million metric tonnes, level on 2017, with strong performances in Cameroon, Senegal and Zambia helping to offset weaknesses in Ethiopia and gas turbines now operating in Tanzania, we expect these two large plants to improve their performance in 2019, further increasing profitability.
“As an organisation, we are focused upon improvement in all areas and I wish to pay tribute to all our staff for their constant efforts towards achieving the vision of our board and executive team.”
The company also noted that by 2020, they will be servicing both the domestic and other African countries from Nigeria.
He added, “Later in 2019, we will open export facilities in Lagos and Port Harcourt that will enable us to export clinker, initially to our grinding plants we are building in West Africa. Not only will these generate useful foreign currency for Dangote Cement to support other expansion projects outside of Nigeria, they will also help to increase the output of our Nigerian plants.
“They will also help to improve job creation and increase prosperity in Nigeria, something of which all stakeholders can be proud of”, he added.