Home » Business » Aliko Dangote Begins To Construct A $1 Billion Cement Plant In Nigeria
billionaires and richest Aliko Dangote on poverty
Africa's richest man, Aliko Dangote

Aliko Dangote Begins To Construct A $1 Billion Cement Plant In Nigeria

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.

Check also: Dangote is now richer than Trump, Oprah and Abramovich all together, according to forbes

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. Nigerians and the Nigerian government itself should thank Dangote mainly for creating jobs for the local people, and besides the Nigerian government earns alot through taxes.

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, Aliko 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.

Aliko 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.

Aliko dangote’s business has branches in other countries like Benin, Ghana, Tanzania and many others, this means that his products are distributed all over Africa.

Source: FORBES

Check also: Panama papers: Africa’s richest man Aliko Dangote under investigations

Check also: Africa’s richest man bids for Automaker peugeot Nigeria

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