Management of Dangote Cement Plc has revealed that the company dispatched seven ships of clinker from Nigeria to Ghana and Cameroon and that the export, for the first quarter of 2024, increased by 87.2% at 264kt. 

While the company commissioned 10 of the 17 Alternative Fuel Projects across the Group, the local demand for cement in Nigeria during the same period under review increased significantly by 26.1% to 4.6Mt, and the overall group volume rose by 12.3% to 7.0Mt for the first quarter of 2024. 

In his comments on the first quarter results, Dangote Cement's Chief Executive Officer Arvind Pathak said: “We intensified our emphasis on exports, dispatching seven ships from Nigeria to Ghana and Cameroon. As a result, our Nigerian exports surged by 87.2%, reflecting our commitment to expanding our presence in regional markets and capitalizing on our export-to-import strategy. We would continue to prioritize innovation, cleaner energy transition, and cost leadership to achieve our vision of transforming Africa and building a sustainable future.”

The company recorded a Group revenue of N817.4bn, even as profit after tax inched, up by 2.9% to N112.7bn. Earnings per share closed the quarter at N6.68, representing an increase of 3.7%. Dangote Cement commissioned ten of the 17 alternative fuel projects across the Group as part of its sustainability programme. 

The Chief Executive Officer of Dangote Cement, Arvind Pathak, in his comments on the results, said, “Driven by an uptick in economic activities, our Nigerian operations witnessed a strong rebound, with volumes up 26.1% to 4.6Mt in the quarter. Similarly, our pan-Africa operations continued upward, with volumes up 3.1% to 2.7Mt, buoyed by increased sales in Zambia and Congo. Despite elevated cost pressures, increased borrowing costs, and a further currency weakening, our first-quarter results reflect our commitment to navigating challenges effectively.” 

He added that the Group revenue more than doubled to N817.4bn, while Group EBITDA rose 66.6% to N309.5bn. Profit After Tax was up 2.9% at N112.7bn. These results underscore our ability to adapt and thrive in a dynamic business environment while delivering value to our stakeholders.

Dangote Cement is Africa's leading cement producer, with 52.0Mta capacity across Africa. A fully integrated quarry-to-customer producer, Dangote Cement has a production capacity of 35.25Mta in Nigeria.  The Obajana plant in Kogi state, Nigeria, is the largest in Africa, with 16.25Mta of capacity across five lines. The Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta; the Gboko plant in Benue State has 4Mta; and the Okpella plant in Edo State has 3Mta.

Through recent investments, Dangote Cement has eliminated Nigeria's dependence on imported cement and has transformed the nation into an exporter of cement serving neighbouring countries.

In addition, the company has operations in Cameroon (1.5Mta clinker grinding), Congo (1.5Mta), Ghana (2.0Mta clinker grinding and import), Ethiopia (2.5Mta), Senegal (1.5Mta), Sierra Leone (0.5Mta import), South Africa (2.8Mta), Tanzania (3.0Mta), Zambia (1.5Mta).