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Despite the rising inflation and interest rate for Q3 of 2022 in Nigeria, Dangote Cement experienced an increase in the volume of cement it sold by 6.2%, recording 20.8metric tons of sales.
The CEO of Dangote Cement, Michel Puchercos, announced during the weekend while presenting the third quarter results to the Nigerian Stock Exchange. He also mentioned that using alternative fuel sources has shown significant promise in cutting down production costs.
He stated, “To mitigate the impact of the significant increase in energy and AGO costs, we are strengthening our efforts to ramp up the usage of alternative fuels. So far this year, we have co-processed 101,553 tonnes of waste representing a 77% increase over 9M 2021.
We are on track to commission our Alternative Fuel feed system at Obajana lines I and V, and Ibese line II in November. In addition, we are ramping up our investment in Compressed Natural Gas (CNG), to reduce our AGO usage”
Dangote Cement has recorded an increase in revenue of ₦1,177.3B, up 15.2% compared to last year, according to the CEO.
To increase production, Dangote Cement re-commissioned its power plant at Okpella and is making huge strides in deploying grinding plants in Ghana and Cote d’Ivoire.
About two weeks ago, the company also won back its license to operate its Obajana Cement plant, located in a small district in the north-central region of Nigeria, from the state government which had seized the property over an alleged purchase malpractice. Read the story here.
Africa’s largest cement factory, Dangote Cement produces around 51.6 Mta across Africa.
The company also has a production capacity of 35.25Mta in its home market, Nigeria. Obajana plant in Kogi state, Nigeria, is the largest in Africa with 16.25Mta of capacity across five lines while the Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta.
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