BREAKING NEWS, Business
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Aliko Dangote, president of Dangote Group, says Nigeria will be the highest exporter of cement by 2018
ALIKO Dangote, president, Dangote Group, has said that Nigeria will be the highest exporter of cement by the year 2018. Dangote stated this while receiving The Guardian Man of The Year 2015 award in Lagos last week. He said: “The only way we can help the continent is to be self-sufficient and also export.”
According to him, the Dangote Group had looked at critical areas where the country was not doing very well in terms of local production and decided to invest in those areas. The company has also invested in a refinery with a production capacity of 650, 0000 barrels per day. Its petrochemical plant, which has a production capacity of 1.2 million metric tonnes, was 10 times that of Eleme petrochemicals, which has 120,000MT production capacity. “We will be the largest producer of petrochemicals in Africa,” Dangote said.
In the area of power, Dangote noted that the only solution to the situation in the country was to have enough gas and sort out the distribution. His company has two subsea gas pipelines that could contain three billion stock of gas just a little below the LNG, which is 3.1 billion.
Dangote Cement is Nigeria’s largest cement producer with three plants in Nigeria and plans to expand in 13 other African countries. The company is a fully integrated quarry-to-depot producer with production capacity of 19.25mmtpa in Nigeria at the end of 2012. The company plans to build a further 19mmtpa of production, grinding and import capacity across Africa, expected to be operational by the end of 2015.
The Dangote Cement plant in Obajana, Kogi, is the largest in Sub-Saharan Africa with 10.25mmtpa capacity across three lines and a further 3mmtpa capacity currently being built. In 2012, the firm opened a $1 billion cement plant in Ibese, Ogun. The facility is capable of producing 6 million metric tonnes of cement per year, raising the company’s total production by 40 percent at the time. The plant was installed by the Chinese construction and engineering firm Sinoma, and represents one of the largest non-oil investments in Nigeria. The company’s plant in Gboko, Benue has 3mmtpa capacity with an upgrade to 4mmtpa planned in 2013. A plant in Senegal opened in 2015.
Dangote described the award as the most cherished among all the honours he had received both locally and internationally, including being Forbes’ richest man in Africa. “The reason why the Guardian award is the most important is because it is rare for people to be appreciated at home,” Dangote added.
— May 9, 2016 @ 01:00 GMT
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