Aliko Dangote, Africa’s wealthiest man, announced plans to begin exporting coal from Nigeria in the coming weeks, adding another source of income to Dangote Industries Limited (DIL)’s growing portfolio.
When visiting the Nigerian Port Authority (NPA) in Lagos, Lagos, Dangote said the company will take daily sales between 650,000,000 USD from fertilizer exports within the next two years.
For some of them at Itori’s cement factory, we are already exporting cement from Nigeria. We have an entire factory of 6 million tonnes for cement exports, he said.
In the next few weeks, we will begin exporting coal from Nigeria. Our fertiliser exports are almost 8 loads. The refinery business exports more than 25 million tons of different products. “
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Business Mogul also produces another important petrochemical product, polypropylene. Nigeria currently imports approximately 90% of the 250,000 metric tonnes used annually.
The Nigerian manufacturer estimates that the new production of Dangote could save US$267 million.
We also export approximately 600,000 to 700,000 tons of polypropylene. So when we talk about exports, we get very big.
Earlier this month, the company increased production volumes from 36 million to 52 million polypropylene bags per month, increasing this value over the next few years.
Dangote Industries Limited (DIL) has stated its plan to export approximately 16,000 tons of fertilizer per day over the next two years.
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According to Dangote, the company will become an important source of Nigerian foreign exchange earnings at the start of its export programme.
