NIGERIA BUILDS EXPORT MOMENTUM WITH $500 MILLION CEMENT PUSH

Nigeria set to generate over $500 million annually from cement exports, driven by Dangote Group’s export-only plant and backed by decades of industrial policy.

Nigeria Cement export Africa Intra-african trade Local production.

Nigeria is poised to earn over $500 million annually from cement exports, marking a major win for the country’s industrialisation agenda and positioning it as a continental leader in manufacturing and intra-African trade. At the heart of this growth is the Dangote Group, whose bold expansion into export-only cement production is reshaping Nigeria’s economic future.

At the Afreximbank Annual Meetings held in Cairo, Nigerian billionaire industrialist Aliko Dangote announced that the country is set to become a global cement export powerhouse. Speaking during a panel discussion titled “The Path to Making Africa Great Again”, Dangote revealed that his company is finalising a cement factory dedicated entirely to exports, which he said would alone generate no less than $500 million in annual foreign exchange for Nigeria.

“When we finish our factory, it’s 100 percent for export,” Dangote told CNN’s Eleni Giokos. “And Nigeria will not earn less than $500 million just from exporting cement.”

This development comes on the back of Nigeria’s successful backward integration policy, a government initiative introduced in the early 2000s under former President Olusegun Obasanjo, which restricted cement imports and encouraged local production. Dangote credits this policy for catalysing Nigeria’s industrial rise, with national cement output now exceeding 60 million tonnes per year, nearly double the 31.9 million tonnes recorded a decade ago.

Beyond cement, Dangote highlighted Nigeria’s rising export profile in fertiliser and refined petroleum products, including jet fuel exports to the U.S. and Asia, and disclosed that 37% of Dangote Fertiliser’s output now serves the U.S. market. Plans are also in motion to list the fertiliser company on the Nigerian Exchange later this year, with the group’s new refinery expected to come online by 2026.

Dangote used the platform to deliver a powerful message to African leaders, urging them to shift focus from import dependency to local production, warning: “If we keep importing, we’re importing poverty and exporting jobs.” He also emphasized the importance of backing home-grown businesses to attract foreign capital, adding: “Foreign investors don’t just show up. Support your local champions first, then others will come.”

However, the continent’s industrial ambitions face significant hurdles. Dangote pointed to inadequate electricity and erratic policy environments as critical barriers to progress. “Two things don’t allow industries to thrive in Africa: lack of electricity and inconsistency in government policies,” he said.

With Africa’s trade finance gap estimated at $120 billion, institutions like Afreximbank play a vital role in bridging the divide. Dangote commended the bank for enabling African entrepreneurs to scale, concluding with a call to action: “That’s how we build Africa.”

This bold cement export drive not only strengthens Nigeria’s economy but also reinforces its role in the African Continental Free Trade Area (AfCFTA) era, an era where African goods, made by Africans, are traded across borders to power the continent’s collective future.

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NIGERIA BUILDS EXPORT MOMENTUM WITH $500 MILLION CEMENT PUSH

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