Dangote ends era of cement importation, exports 400,000 metric tons

Dangote cement Plc, the country’s leading cement manufacturer has made history by becoming the first company to draw the curtain on Nigeria’s dependence on cement importation as it exported 0.4 million tons of the product to other countries in 2016.

In its 2016 full year audited results presented on the floor of the Nigerian Stock Exchange (NSE) in Lagos yesterday, Dangote Cement sold 8.6 million metric tons of cement outside Nigeria, which is 54 percent more than what was sold in 2015.

As at  2011, Nigeria was one of the world’s largest importers of cement, buying 5.1 million metric tons of foreign cement at huge expense to the country’s balance of payments.

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The company’s Pan-African cement plants continued to perform well, contributing significantly to its turnover and profitability.

Onne van der Weijde, Dangote Cement’s Chief Executive Officer, while presenting the report at the NSE, assured the investors of better returns on their investment in the Dangote Cement.