Dangote Cement sales increased by 6.2% in the third quarter of 2022

• Dangote Cement sales increased by 6.2% in the third quarter of 2022
• The Ibese plant in Ogun State
• The Gboko plant in Benue State

In spite of rising inflation and a fragile global economy, Dangote Cement reported that its total volume of cement sales increased by 6.2 percent to 20.8 metric tons in the first nine months of 2022.

In a statement, the corporation claimed that had adopted alternative fuel to save costs.

It said that it had also opened its power plant in Okpella and was making good progress toward opening grinding facilities in Ghana and Cote d’Ivoire.

The company stated in the statement that this was done to increase the supply of cement throughout its operational base.

READ MORE: Ghana Expresses Joy Over Dangote Refinery

While presenting the third quarter results to the Nigerian Stock Exchange, Dangote Cement’s Chief Executive Officer, Michel Puchercos, said, “To reduce the impact of the huge increase in energy and AGO prices, 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 percent 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, to reduce our AGO usage.”

“Consequently, he explained that the company recorded an increase in revenue of N1,177.3bn, up 15.2 percent compared to last year, and Group EBITDA of N515.9bn, up 0.2 percent with an EBITDA margin of 43.8 percent.”

He recalled that Dangote Cement, with a capacity of about 51.6Mta throughout Africa, is the continent’s top cement manufacturer. It is a fully integrated quarry-to-customer producer with a 35.25Mta production capacity in Nigeria, where it operates.

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According to the statement, the Ibese plant in Ogun State has four cement lines with a combined installed capacity of 12Mta, while the Obajana plant in Kogi State, Nigeria, has five lines with a total capacity of 16.25Mta, making it the largest in Africa.

While the Okpella facility in Edo State has 3Mta, the Gboko plant in Benue State has 4Mta. Through recent investments, Dangote Cement has reduced Nigeria’s reliance on cement imports and turned the country into a cement exporter servicing its neighbors, according to the statement.