Dangote Cement capitalisation hits $15 billion, says Paramjit

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By Emma Ujah, Abuja Bureau Chief

Dangote Cement capitalisation has hit a whopping $15 billion and the company would single-handedly surpass Nigeria’s entire cement need which stands at about 17 million metric tons annually, before the end of next year.

Dangote Group’s Chief Human Resources Officer, Mr. Pabby Paramjit disclosed this at the inauguration of Dangote Academy’s  Graduate Engineer Trainees Scheme, GETS,  at the Obajana Cement plant, Kogi State,  at the weekend.

He put Dangote’s current cement output at about 12 million metric tons per annum and that a new cement plant at Ibere, Ogun State would soon come on stream with another six million metric tons, annually. The third phase of the Obajana Cement Plant, he disclosed, would soon be commissioned and therefore boost output of the commodity.

He said that the vision of the President of the Group, Alhaji Aliko Dangote was to grow the cement segment of the business empire into an international organisation that would export cement from Nigeria to the West African sub-regional market within the next four years.

According to him, cement accounted for 80 per cent of Dangote Group’s business, while non-cement segment such as the flour mills, water, juice, pasta and bag account for the remaining 20 per cent. Mr. Paramjit said Alhaji Dangote decided to establish the Dangote Academy  in recognition of the important roles personnel play in building great companies around the world.

Alhaji Aliko Dangote

“Money, machinery and men are the most important factors in the business. People are the most important of these factors because people make the money and machinery work,” he said. The human resource chief said Dangote Academy was established for further skill development among young engineering graduates who would be trained for the period of one year and then given the opportunity for a career in the Dangote Group.

The 30 young engineers, he said, were selected from among the best in their schools and the National Youth Service Corps camps and would receive intensive practical training in the Group’s various plants across the country. The 30 young graduates would undergo training covering basic technology, plant operation, ICT, and supervisory skills to enable them become effective line managers at the end of the course.

Mr. Paramjit disclosed that the scheme was designed to continue to attract young and brilliant graduates to the Dangote Group; develop the future leaders of the company for effective succession plan; and build the business vision, values and ethics into character and behaviour of its future leaders.

The future plan for the programme, he said, would be to bring all training and development efforts of the Group under the Dangote Academy, for which a large campus with training rooms, workshops, library and internet facilities, is being constructed in the cement town of Obajana.

In his remarks, the Managing Director and Chief Executive Officer of the Obajana Cement plant, Mr. Jagat Rathee, said that by 2015, Dangote Cement would hit a production target of 50 million metric tons per annum out of which 20 million metric tons would be sold in Nigeria and the rest would be exported to other countries.

He said negotiations had commenced for the establishment of Integrated Cement plants by the Group in Cameroun, Congo, Senegal and would capture several other African countries in the years ahead.

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