Dangote Cement’s six-million-metric-tonne-per-annum factory, which cost $1 billion to build, is now complete and ready for commissioning.
The plant, which sits on 1000 hectares of land, is expected to boost cement production in the state, aligning with Governor Godwin Obaseki-led administration’s plan to diversify the state’s economy and attract investment into its productive sector, according to a statement from the company.
Mr Patrick Omokagbo, Dangote Plc’s Director of Stakeholder Management, noted that the local community was involved in the plant’s construction, as engineers, technicians, and other members of the community worked on it until it was completed.
He was quoted as saying, “In Nigeria, we have a population of over 200 million people. The per capita consumption of cement in Nigeria is low. We still need to do more to make the cement get to the poorest of the poor”.
The factory was developed by Sinoma International Engineering Company, and 1,500 local workers collaborated with Chinese engineers on the project, according to the statement, which also stated that the plant will employ at least 6,000 people once it began operations.
Recall that, Dangote Cement Plc is the first Nigerian listed company to report its financial results in accordance with the IFRS taxonomy.
It announced that its financial information is now available to investors in extensible Business Reporting Language (XBRL) format, based on the IFRS taxonomy.
Companies can use XBRL to standardize the preparation, publication, and exchange of financial data in a machine-readable format. It is primarily used by publicly traded companies that are required by law to use it, such as those listed in the United States of America, Europe, and South Africa.
The company’s financial statements for the third quarter of 2020, the full year of 2020, and the first quarter of 2021 are now accessible in XBRL format.