L
LequteMan
Guest
Nigeria is now a cement exporting country, having met all local demands.
This is due to the continuous increase in its production capacity, foremost cement manufacturer, Dangote cement Plc. Last year, the company exported 0.4 million tons of cement to other nations from Nigeria.
In its 2016 full year audited results presented on the floor of the Nigerian Stock Exchange (NSE) in Lagos yesterday, Dangote Cement sold a total of 8.6 million metric tons of cement outside Nigeria, which is 54 per cent more than what was sold in 2015.
The export is significant given that the nation used to be a net importer of cement. 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.
This is due to the continuous increase in its production capacity, foremost cement manufacturer, Dangote cement Plc. Last year, the company exported 0.4 million tons of cement to other nations from Nigeria.
In its 2016 full year audited results presented on the floor of the Nigerian Stock Exchange (NSE) in Lagos yesterday, Dangote Cement sold a total of 8.6 million metric tons of cement outside Nigeria, which is 54 per cent more than what was sold in 2015.
The export is significant given that the nation used to be a net importer of cement. 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.
