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Dangote Cement capitalisation hits $15 billion

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Dangote Cement capitalisation has hit $15 billion and the company is set to single-handedly surpass Nigeria’s entire cement need which stands at about 17 million metric tonne annually, before the end of next year. Dangote Group’s Chief Human Resources Officer, Pabby Paramjit disclosed this at the inauguration of Dangote Academy’s Graduate Engineer Trainees Scheme, GETS, at the Obajana Cement plant, Kogi State, last month. Dangote’s current cement output is at about 12 million metric tons per annum and a new cement plant at Ibere, Ogun State will soon come on stream with another six million metric tons, annually. The third phase of the Obajana Cement Plant will soon be commissioned and therefore boost output of the commodity.

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