Dangote Cement to Attract $700m from Increased Exports

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Dangote Cement Plc has announced plans to attract $700 million in foreign exchange from the exportation of the product to boost Nigeria’s economy.

The company also said the two cement terminals located in Onne, River State, and Lagos State will be completed before the year-end, Guardian Newspaper reported.

The company Chairman, Aliko Dangote, while addressing shareholders at the 10th yearly general meeting in Lagos, yesterday, said: “We have a lot of on-going projects aimed at increasing capacity, and by next year, we will not only export one million tonnes as we normally do now, we will be servicing both the domestic and other African countries from Nigeria.

“We will have a capacity of about eight million tonnes to export and that will generate foreign exchange of about $700 million into the country, to assist the federal government and the group in its other activities across Africa.”

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