Aliko Dangote, Africa’s richest man and President and Chief executive officer of Dangote Group, says his cement company Dangote Cement has seen a 47 percent growth in sales volumes between January and February 2016.
Dangote was speaking today at the Economist Summit in Lagos which Nairametrics is covering.
Other anecdotes shared by Dangote include:
- Dangote Cement can export up to $500 million worth of cement annually from Nigeria to neighboring West African countries.
- By 2018 – 2020 there will be no need by Dangote Group of businesses to get FX from the CBN.
- In 5 – 6 years Dangote’ Sugar investments will stop imports of about $1 bn worth of sugar into Nigeria.
- Dangote Group will produce 1 million tons of rice in 5 years.
- Dangote is building a 2 undersea gas pipelines that can move 1.5 million scf of gas each from oil blocks 71/72 in the Niger Delta to Olokola Free Trade Zone and then to Lagos.
- When completed the gas being carried (total of 3 bn scf a day) can produce up to 12,000 mw of electricity.
- Dangote Group is getting equipment for its Fertilizer, petrochemical and refinery projects about 30 percent cheaper today, due to fall in oil prices.