Stakeholders in the stock exchange sub-sector of the nation’s financial economy led by the top management team of the Nigeria Stock Exchange (NSE) have accessed the investment of the Dangote Group in the cement industry and described it as a revolution in the transformation of the economy to a productive one.
The Group led by the Director-General of the NSE, Oscar Onyema, which included investors, leading players in the exchange as well as top stock brokers paid a business visit to the Ibese, Ogun state plant of the Dangote Cement Plc expressed surprise at the technologies being used in the production plant.
The NSE DG who was obviously surprised at the near ready stage of work on the two additional lines of 3 mmtpa which will total production at the Ibese plant to 12 mmtpa and the latest technology of equipment
said Nigeria needs more of Dangote .
When taken through the quality control mechanism and the robotic laboratory and the fact that the end product of the quality checks and assurances was 42.5 grade of cement, the DG said “if this is the case, 42.5 grade is the way to go” “What, we have seen here is amazing. The high technologies here. I know for sure that this saves time and cost couple with the technical capabilities, quality control and the quality of the end product, I can speak on behalf of my colleagues that what we have seen is fantastic and that Dangote cement is incomparable.
“The caliberation of the sample of 42.5 demonstrated here to show the quality shows that is the way to go to restore sanity to the construction industry being plagued with building collapse and loss of lives and properties.
“The operations here is impressive, the shareholders have cause to hope for more with more investments ongoing and not only in Nigeria but across the continent. I can assure you that the stockbrokers here will start talking to their clients about the exploits of Dangote Cement and the profit prospect”, Onyema stated.
Earlier, during question and answer session, the Group Managing Director of the Company, Devakumar Edwin explained why Dangote Cement could not have been producing lower grade of cement saying the plant machineries were of latest technologies from leading manufacturers all over the world.
He stated that right from inception of Obajana cement plant, Dangote Cement has been of 42.5 grade and also same in Ibese plant pointing out that with government now talking of 42.5 grade means they are now seeing what Dangote has seen long before now.
While briefing the team on the expansion drive of Dangote Cement and the additional 6 million metric ton per annum that will come on stream within the next one month, the Deputy General Manager, Production
Process, Sunday Adinda said Dangote Cement production process ranked among the best in the world and that it was a practice for the company to rise above prescribed standards.