Africa’s foremost Industrialist and President of Dangote Industries Limited, Aliko Dangote, has disclosed that his 6.0 million metric tons cement plant in Itori, Ogun State, would be 100% for export and not the Nigerian Market.
Speaking at a press interview, he said, “The 6.0 million tons in Itori is 100% export, Itori is not for Nigeria’s market.”
Dangote earlier in March disclosed plans to build a 6.0 million metric tons per annum cement plant alongside a multi-billion-dollar Seaport in Ogun State.
Dangote, addressing the Ogun State Executive Council led by the Governor, Prince Dapo Abiodun during a courtesy visit, to the governor in his office at Oke-Mosan, Abeokuta said he has decided to return and invest in Ogun State because of the Prince Dapo Abiodun administration’s vision and deliberate policies that focus on attracting investors, as well as the investor-friendly climate that exists in the state.
He noted that several hindrances prevented him from setting up the plant in Ogun state. “Our factory at Itori was pulled down twice. When we started the second time, they not only demolished the factory but also the fence, so we left. But right now, because of His Excellency, our governor, Prince Dapo Abiodun, we are back. When you visit the factory, you will be surprised at what we have done.” Dangote said.
Upon completion, Dangote assured, the total capacity of the company’s cement plants in the state would be in the neighborhood of 18 million metric tons per annum, making it the highest cement-producing state or region in Africa.
Dangote Cement, according to the Dangote Group President, is the leading cement producer in Africa with a capacity of 52.0 million metric tons per annum across the African continent.
How would this Benefit Nigeria’s Economy
Exporting all the cement from his Ogun plant would mean more FX inflows for Nigeria. This can help strengthen the naira and reduce pressure on Nigeria’s foreign reserves.
By selling cement abroad instead of importing, Nigeria’s export figures would rise, helping to increase the country’s trade surplus and boost its standing in global trade.
Even though the cement is for export, the plant still needs Nigerian workers, suppliers, transporters, and service providers. This means more jobs and income for people in Ogun State and beyond.
With a new seaport planned alongside the plant, Ogun State will see improved infrastructure that could attract more investors and make it easier for other Nigerian industries to export.