NIGERIA: Cement consumption per capita remains low

With a yearly cement production across Africa standing at about 30 million metric tonnes, Dangote Cement Plc has stated that Nigeria’s per capita consumption of the commodity remains relatively low compared to Asian and European countries.

The company’s Cahirman, Aliko Dangote stated that the group’s cement production has since surpassed Nigeria’s average total consumption of around 20milion metric tonnes, even as he noted that Nigeria’s consumption profile of the commodity remains low when compared to other African, Asian and European countries.

According to a statement, Dangote, while speaking at the just concluded Kaduna International Trade Fair, said his conglomerate plans big for the African economy, saying Africans must look inward and put their human and natural resources to best uses, rather than encouraging political conflicts.

Dangote, who was represented by the Group’s Executive Director, Mansur Ahmad, said the company has commenced production of the cement in some African countries which include Senegal, Cameroon and South Africa, adding that by the time it completes its projects in eleven other African countries, the conglomerate’s total production would have surpassed 50mmt.

He said the Dangote Cement in Nigeria controls about 65 per cent market share; and about 30 per cent of the Nigerian Stock Exchange (NSE).

The investment in other African countries according to him is strategic and that they are aimed at supporting governments across the continent by creating thousands of jobs for the people.

Dangote said his involvement in petrochemicals, fertilizers and petroleum refining was another bold step at helping to reduce poverty in Africa through promotion of gainful employment and that on completion of all the projects, there will be massive employment opportunities.

He stated that the commencement of refinery and other petrochemicals will make Nigeria to become independent arguing that the present development where Nigeria has to depend on other countries for refined products despite huge crude resources was unacceptable. While commending the organizers of the Trade Fair, Dangote expressed optimism about Nigeria’s economic rebound, adding that both outgoing and incoming leaders have done Nigerian proud by ensuring that the country remains peaceful for businesses to thrive.

Council member of the Kaduna Chamber of Commerce Industry Mines and Agriculture, KADCCIMA, Hajia Rakiya Musa who spoke earlier on behalf of KADCCIMA, commended the support of the Dangote Group to both the chamber and to the Nigerian economy.

She stated that what Nigeria needs at this crucial moment is more of the Dangotes in her economy lamenting that most Nigerian businessmen are traders and not entrepreneurs which Nigeria economy requires.