President of Dangote Limited, Alhaji Aliko Dangote, at The Guardian Man of the Year Award presentation, Friday night; said his company has succeeded in taking down the price of cement in every market it has entered on the continent, stressing that cement is a commodity that affects both the rich and poor.
“Cement price,” he stated, “is something that worries everybody; even people who are not building houses, know it affects their rent.”
He disclosed that with his company’s new investment in cement, in two to three years time, Nigeria would be the highest producer of the product.
The foremost entrepreneur also gave an insight into efforts by his company to diversify into the petroleum industry, saying, “What we have also done is to look at critical areas where Nigeria is not doing well in terms of local production and we picked building a refinery, a 650,000 barrel a day production capacity.”
On how tat will impact on fertilizer and power, Dangote revealed that his company’s efforts in the petrochemical sector will be ten times higher than what Eleme Petrochemical is doing, adding, “we would be the largest petrochemical producer in Africa.”
