Q1: Dangote Cement Ramps-up Production At Okpella Plant


Africa’s biggest cement manufacturer, Dangote Cement, has ramped up production at its newest plant, in Okpella Edo State even as its earnings per share rose by 16.8 percent to N6.18 in the three months ended March 31, 2022. Ramping up production at the Okpella plant is part of efforts to increase cement supply in Nigeria as well as ensure timely supply of products to customers in the South-South and Southeast geopolitical regions.

Analysis of the cement giant’s three months results indicated that Dangote Cement sold a total volume of 7.2Mt of cement across the group with Nigerian operations accounting for 4.8Mt while the rest of Africa did the balance of 2.4Mt.

Continuing our efforts to deliver shareholder value, Dangote Cement completed the second tranche of its buyback programme. Following the completion of both tranches, Dangote Cement has now bought back 0.98% of its shares outstanding. This share buy-back programme reflects the Company’s commitment to finding opportunities beyond dividend to return cash to shareholders.”

Puchercos added, “the volatile international context is strengthening our efforts to ramp up the usage of alternative fuels and execution of our export-to-import strategy. Reducing our dependence on imported inputs and making our markets self-sufficient has never been more relevant from a regional perspective.

Our continuous focus on efficiency, meeting strong market demand and maintaining our costs leadership drives our ability to consistently deliver superior profitability and value to all shareholders.”

https://worldtopnewsng.com/q1-dangote-cement-ramps-up-production-at-okpella-plant/