Dangote Cement Export Of Clinker, Cement Increase By 87.2%

Dangote Cement Plc's management announced that they shipped seven clinker-laden vessels from Nigeria to Ghana and Cameroon, resulting in an 87.2 percent increase in exports for the first quarter of 2024, totaling 264kt.

During the same period, the local demand for cement in Nigeria saw a significant 26.1 percent increase to 4.6Mt, while the overall group volume rose by 12.3 percent to 7.0Mt.

The company also commissioned 10 out of the 17 Alternative Fuel Projects across the Group.

Arvind Pathak, the Chief Executive Officer of Dangote Cement, emphasized the intensified focus on exports, with 7 ships dispatched from Nigeria to Ghana and Cameroon, resulting in an 87.2 percent surge in Nigerian exports.

This reflects the company's commitment to expanding its presence in regional markets and capitalizing on its export-to-import strategy.

The company's Group revenue reached N817.4 billion, with a 2.9 percent increase in profit after tax to N112.7 billion. Earnings per share closed the quarter at N6.68, marking a 3.7 percent increase.

Dangote Cement commissioned ten of the 17 Alternative Fuel Projects across the Group as part of its sustainability program.