ENUGU, Nigeria (VOICE OF NAIJA)- Renowned Nigerian entrepreneur and investor, Femi Otedola, said he has made a substantial acquisition of shares in Dangote Cement, the only cement company in Nigeria with two export terminals boasting a combined export capacity of eight million tons per annum.
Otedola’s strategic investment reflects his confidence in Dangote Cement’s ability to generate foreign exchange for Nigeria and his commitment to supporting businesses contributing to the nation’s economic resilience.
Although the volume of shares acquired was not disclosed, Premium Times had reported a purchase of N6 billion worth of stocks in the company.
As Sub-Saharan Africa’s largest cement producer, Dangote Cement maintains an annual production capacity of 51.6 million tons across ten countries. This extensive footprint signifies the company’s dominance in the cement industry and its crucial role in driving economic growth across the region.
The recent expansion, including the new six-million-ton plant in Itori, Ogun State, enhances Dangote Cement’s export capacity and emphasizes its contribution to Nigeria’s economic diversification.
“Dangote Cement’s export capabilities and extensive operations across Sub-Saharan Africa are essential for regional economic integration and growth,” said Mr. Otedola. “My investment is a testament to my confidence in its potential to propel Nigeria’s and Africa’s industrial and economic development.”
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Mr. Otedola’s investment aligns with his vision of long-term wealth preservation and the belief that shareholders should be the primary beneficiaries of a company’s success.
“In my investment decisions, I focus on long-term wealth preservation and ensuring shareholders are the ultimate beneficiaries of a company’s success,” Mr. Otedola stated.
“Dangote Cement’s unique position with two export terminals offers a substantial opportunity to earn foreign exchange, crucial for Nigeria’s economy. This, along with the company’s pan-African presence, makes it an ideal investment choice.”
Dangote Cement’s track record of dividend payments, exceeding N2.1 trillion in recent years, and commitment to sustainable business practices resonate with these principles. Mr. Otedola’s investment strategy prioritizes well-managed companies with strong governance and operates under the principle that no individual should be larger than the company.
“In my investment decisions, I focus on long-term wealth preservation and ensuring shareholders are the ultimate beneficiaries of a company’s success,” Mr. Otedola said.
“The arrested suspects will face the full weight of the law, and the Nigeria Police Force reassures the public of its unwavering commitment to maintaining law and order and preventing crimes at all levels,” he added.
The evolving regulatory landscape in Nigeria, emphasizing Environmental, Social, and Governance (ESG) compliance, complements Mr. Otedola’s investment criteria.
“Companies like Dangote Cement, adhering to these principles, are more likely to ensure transparency, accountability, and long-term value creation,” he said.
Otedola added that his investment in Dangote Cement is a strategic decision that highlights his belief in the company’s ability to positively impact Nigeria’s economy and his commitment to fostering a culture of responsible investment.