Nigeria: Dangote Cement’s profit in 2019 was US$685m, down by 17% from US$822m in 2018. Sales were US$2.46bn, down by 1.1% year-on-year from US$2.49bn in 2018. “Export sales were affected by the Nigeria-Benin border closure in the second half of 2019. Looking ahead, I expect an increase in volumes in 2020 as we commence clinker exports via shipping from Nigeria,” said Dangote Cement CEO Joe Makoju. The group reported pan-African volume growth to 9.4Mt/yr, noting a 94% growth in Tanzanian volumes, aided by the commencement of operations at a temporary gas power plant in the East African country.
Retiring from the company, Makoju said, “I am proud to have watched Dangote Cement grow from a local producer back in 2007 to a major force in global cement production. Dangote Cement has eliminated Nigeria's dependence on imported cement.” He wished his successor Michel Puchercos all the best in his new role.