• Dangote Cement exports rise by 62.3% as H1 profit hits N638.5b

Federal Government has described the Dangote Petroleum Refinery and Petrochemicals as a cornerstone of Nigeria’s ambition to build a $1 trillion economy, pledging deeper collaboration with the private sector to accelerate industrialisation, job creation, and economic transformation.

The Minister of State for Industry, John Owan Enoh, made the declaration yesterday after leading a high-level delegation from the ministry on an extensive tour of the 700,000 barrels-per-day Dangote Petroleum Refinery, Dangote Petrochemicals complex and Dangote Fertiliser Limited in Lagos.

The Minister described the integrated industrial complex as one of the most significant investments in Africa and a model for the type of industrial development required to drive Nigeria’s economic growth aspirations.

According to Enoh, the visit further reinforced the central role of large-scale manufacturing in the successful implementation of the Nigerian Industrial Policy, unveiled earlier this year.

“You cannot be minister in charge of industry and not visit the Dangote Refinery,” Enoh stated. “This facility matters because of what it represents for Nigerian industry, for our people and for the realisation of President Bola Tinubu’s vision of a one trillion-dollar economy.”

He said the refinery has emerged as a powerful symbol of value addition, industrial competitiveness and Nigeria’s growing manufacturing capability.

“The more a country adds value to its products, the more respect it earns globally. The Dangote Refinery stands today as one of the strongest demonstrations of that principle,” he said.

The minister noted that the refinery has fundamentally changed global perceptions of Nigeria by helping to transform the country from a major importer of refined petroleum products into an exporter serving international markets.

Enoh, who was accompanied by directors, regulators and heads of agencies under the ministry, said the delegation gained a deeper appreciation of the facilities’ scale, technological sophistication and strategic importance.

The minister pledged that the ministry and its agencies would remain strong advocates of the refinery and the broader industrialisation agenda.

Speaking during the visit, President and Chief Executive of Dangote Industries Limited, Aliko Dangote, urged the Federal Government to place industrialisation at the centre of its economic strategy, insisting that no nation has attained prosperity without a strong manufacturing base.

According to him, the successful fundraising underscores Nigerian companies’ ability to mobilise long-term capital when supported by stable, predictable government policies.

Dangote also praised Senator Enoh’s dedication to industrial development.

“We have worked with many Ministers of Industry over the years, but I can confidently say that his commitment is exceptional. His ministry will play a critical role in attracting investment, creating jobs and driving the President’s one trillion-dollar economy agenda.”

MEANWHILE, Dangote Cement Plc grew cement and clinker exports from Nigeria by 62.3% to 1.1 million tonnes in the first half of 2026, reinforcing the country’s position as a regional manufacturing and export hub.

The company’s Profit After Tax (PAT) also increased by 22.7 per cent to N638.5 billion within the period.

The company said it dispatched 20 clinker ships from Nigeria to Ghana, Cameroon and Côte d’Ivoire during the period, reflecting rising demand for its products across West Africa and the growing contribution of exports to its pan-African growth strategy.

Its unaudited results for the six months ended 30 June 2026 also showed that Group revenue increased by 21.4 per cent to N2.514 trillion, while Group EBITDA rose by 25.8 per cent to N1.188 trillion, reflecting a margin of 47.3 per cent.

The company’s earnings per share also rose by 24.3 per cent to N38.22, as it closed the period with a strong net cash position of N215.2 billion.