Dangote Speaks on Increasing Cement Production as FG Sets New Price
- Beginning next year, Dangote Cement will boost its annual production in Africa by 61 million metric tons, according to Aliko Dangote
- This is anticipated to happen following the completion of ongoing plant projects in Abidjan, Cote d'Ivoire, and Itori, Ogun State
- He said Dangote Cement is currently Africa's leading cement manufacturer, with a 52.0Mta capacity across the continent
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Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
Aliko Dangote, the president of the Dangote Group, revealed Monday that Dangote Cement will increase its yearly production in Africa by 61 million metric tons starting next year.
This is expected to occur after current plant projects in Itori, Ogun State, and Abidjan, Cote d'Ivoire, are finished.
Source: UGC
He said that Dangote Cement, which has a 52.0Mta capacity throughout the continent and about 70% of its output headquartered in Nigeria, is already Africa's top cement producer.
During a meeting with Governor Dapo Abiodun in his Abeokuta office on Monday, Dangote revealed this.
He was in the state to examine the two new lines of the Dangote Cement facility at Itori, Ewekoro LGA, which is currently under construction and has a capacity of 6.0 million metric tons per annum (Mta).
When the ongoing Itori facility is finished, Ogun State will have a total capacity of 18Mta, making it the top cement-producing state or area in Africa, according to Dangote, who also stated that Ogun is home to the group's 12Mta Dangote Cement facility in Ibese.
“Dangote Cement is Africa’s leading cement producer with 52.0Mta capacity across the continent, of which almost 70% of our production is based in Nigeria.
“Our Obajana plant in Kogi State, Nigeria, is currently the largest in Africa with 16.25Mta of capacity across five lines; Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta; Gboko plant, also in Benue State, has 4Mta; and Okpella plant, in Edo State, has 3Mta.
“By the time we deliver Abidjan and Itori, we will be at 61mm tons per annum next year,” he said.
He vowed that the group would do more in the area of Corporate Social Responsibility (CSR), especially in the development of concrete roadways.
“In Itori, we have signed a Community Development Agreement with the host community with firm commitments to implement projects and programmes that will address their needs and those of neighbouring communities,” he said.
He also said that the organization intends to build Nigeria's biggest port in Ogun State's Olokola Free Trade Zone (OKFTZ).
The group had already given up on its plan to invest in the Olokola Free Trade Zone (OKFTZ), he informed the governor.
However, the industrialist stated that the Dangote Group will be returning to the OKFTZ because of Abiodun's policies and investor-friendly atmosphere.
“We earlier on abandoned our vision of investing in the Olokola Free Trade Zone (OKFTZ), but because of your policies and investor-friendly environment, I want to say we are back and are going to work with the government and return to Olokola and plans are underway to construct the largest port in the country,” he said.
Source: UGC
Meanwhile, the Former governor of Ogun state, Ibikunle Amosun, has challenged the president of Dangote Group, Aliko Dangote, to provide requisite approvals for the construction of the structures he alleged were demolished.
Amosun stated this after Dangote accused him of demolishing his cement plant twice during his tenure.
FG fixes cement price
Legit.ng reported that Cement producers have been urged by Works Minister Dave Umahi to reduce the price of the product to N7,000 per 50 kg bag or face reporting to President Bola Tinubu.
The minister explained his request, emphasizing that efforts were underway to repair the nation's main roadways and that the exchange rate had stabilized while gas prices were also skyrocketing.
The minister claims that the current exchange rate is N1,400 to the dollar and calls on cement producers to reduce the cost of their goods.
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Source: Legit.ng
