Africa's Richest Man Begins Construction Of New $1 Billion Cement Plant In Nigeria

-
Aliko Dangote
 Dangote Cement, Africa’s largest cement producer which is controlled by Nigerian billionaire Aliko Dangote, on Sunday began the construction of a new $1 billion cement factory in Okpella, Edo state, in Nigeria’s southern region.
According to a report by Leadership newspapers, the new 6 million metric tonnes per annum (mmtpa) cement plant will be completed within 26 months and is expected to create 6,000 direct jobs and 45,000 indirect jobs for indigenes of Okpella.
Speaking during the groundbreaking ceremony on Sunday, Dangote said that local cement manufacturers such as his company and BUA Group (which is owned by fellow billionaire Abdulsamad Rabiu), were saving Nigeria as much as $3 billion every year through cement import substitution. He also urged other investors to make additional investment in the sector as it would guarantee that local demands were met, while surpluses would be exported to earn Nigeria much needed foreign exchange.
Apart from the 6-mmtpa Okpella plant Dangote has started building, he is also currently constructing another 6-mmtpa plant in Itori, Ogun State. These news plants will increase Dangote Cement’s local production capacity to 41 mmtpa annually.
Dangote, 59, is Africa’s richest man with a current net worth of $17.3 billion according to the FORBES’ real-time billionaire scoreboard on Tuesday.

Comments

Post a Comment

Message Sent

Popular posts from this blog

Meet the world's hottest transgender - Amiyah Scott

-
Image
Yep, all that used to be male. Her name is Amiyah Scott, but she was born ‘Arthur Scott’ in New York in 1988. She's a transgender model and make-up artist. Arthur started the process of turning into a woman when he was 17. He got breast augmentation, booty shots, light filler in the cheeks etc etc.  by linda ikeji       
Read more

Man shot dead by police officer who tried to jump fuel queue in Lagos; police identifies officer responsible

-
Image
  A police officer has gunned down a Lagos resident who prevented him from jumping the queue to buy fuel at a Nigerian National Petroleum Company Limited (NNPCL) filling station at Obalende in the Ikoyi area of Lagos State.    Toheeb Eniafe was in the queue to get petrol on Wednesday evening, May 1, when two men, said to be police officers, attempted to drive into the station to buy petrol even though they were not in the queue to get the product.  This attempt by the police officers to jump the queue was met with stiff resistance from people in the queue who had been waiting for hours.   Eniafe was at the forefront of the resistance, telling the men to join the queue like everyone else.   This degenerated into a physical fight and one of the men shot Eniafe before fleeing the scene.  An angry mob was said to have chased and caught up with one of the officers but he later escaped after firing shots in the air.  On Thursday, May 2, the La...
Read more

Ugandan President Museveni claims IMF, World Bank and Western countries purposely keep African countries in perpetual poverty (video)

-
Image
President Yoweri Museveni of Uganda has claimed that the West and various international monetary lenders keep Africa in continuous poverty. Speaking at the World Bank’s International Development Association summit for African Heads of state, held in Nairobi, Kenya, Museveni took a bold swipe at world leaders saying that most of Africa’s problems predicted over 60 years ago were a result of philosophical, ideological, and strategic economic mistakes. He claimed that a fundamental African problem is that aid from the World Bank and other Western bodies was majorly for profiteering. “The crisis which is in Africa today is because of philosophical, ideological, and strategic economic mistakes which we have been talking about since the 1960s. It is not an accident when you see the crisis in many African countries, the collapse of States. We predicted this in the 1960s – philosophical, ideological, and strategic mistakes. I don’t have time to amplify each one but I was very happy to hear the...
Read more