Nigeria no longer imports cement due to the efforts of the Dangote Group, it has also started exporting the product to other countries. Dangote Cement Plc made this disclosure after the presentation of its 2016 full year audited accounts.
‘‘Through its recent investments, Dangote Cement has eliminated Nigeria’s dependence on imported cement and has transformed the nation into a net exporter of cement serving neighbouring countries,’‘ the company said in a statement.
Nigeria as at 2011 was one of the largest importers of the product globally purchasing an estimated 5.1 million metric tons, an amount that heavily weighed on the country’s balance of payments.
The company said sales from its Nigerian operations shot up by 13.8% adding that total revenue for the year under review subsequently leapt to $1.9bn (615 billion naira).
“The new year has started well and we expect much higher profitability in Nigeria in 2017, even though we may not see the volume growth we achieved in 2016.
“I am confident that we will deliver an even stronger performance in 2017 as we increase market share and extend our reach across Africa,” CEO of the company, Onne van der Weijde, said.
The company after its ‘self-sufficiency’ feat in production for Africa’s most populous nation also stated that it is now exporting 0.4m metric tons of cement to neighbouring countries.
Dangote Cement said it sold 8.6 million metric tons of cement outside Nigeria, which is 54 % more than what was sold in 2015. They remain the leading cement producer across the continent with nearly 46 million metric tons’ capacity across Africa.
In addition to its plants in Nigeria, the company has invested several billion dollars to build manufacturing plants and import/grinding terminals across Africa. Its operations are in Cameroon, Congo, Ghana, Ethiopia, Senegal, Sierra Leone, South Africa, Tanzania and Zambia.