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HomeBusiness & EconomyDespite Global Economic Crises, Dangote Group Says Claims Increase in Cement Sales

Despite Global Economic Crises, Dangote Group Says Claims Increase in Cement Sales

The management of Dangote Cement said that despite continued effect of inflation on the global economy, the company has recorded an increase in the overall volume of cement sales by 6.2 per cent to 20.8metric tons.

This is just as the management commissioned its power plant at Okpella to further increase the supply of cement across its operational base.

Presenting the third quarter results to the Nigerian Stock Exchange, the company’s Chief Executive Officer, Michel Puchercos, said they are strengthening efforts to ramp up the usage of alternative fuels as to mitigate the impact of the significant increase in energy and AGO costs.

READ: ‘Newly Industrialised Nigeria Feasible’ — Dangote Believes

“So far this year, we have co-processed 101,553 tonnes of waste representing a 77% increase of over 9 million in 2021. We are on track to commission our Alternative Fuel feed system at Obajana lines I and V, and Ibese line II in November. In addition, we are ramping up our investment in Compressed Natural Gas (CNG), to reduce our AGO usage”, he said.

According to him, the company has recorded an increase in revenue of N1,177.3B, up 15.2% compared to last year, and Group EBITDA of N515.9B, up 0.2% with an EBITDA margin of 43.8%.

Dangote Cement, is Africa’s leading cement producer with nearly 51.6Mta capacity across Africa with a fully integrated quarry-to-customer producer, it has a production capacity of 35.25Mta in its home market, Nigeria.

READ: Dangote Group Insists Obajana Cement Plant Legally Obtained

With Cement plants spread across the country such as Obajana in Kogi state, which is the largest in Africa with 16.25Mta of capacity across five lines, the Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta, Gboko plant, Benue state has 4Mta while the Okpella plant in Edo state has 3Mta, the group has made a huge investment in country’s economy.

With it’s recent investments, Dangote Cement has eliminated Nigeria’s dependence on imported cement thereby transforming the nation into an exporter of cement serving neighbouring countries.

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