Otedola reveals why he’s investing in Dangote Cement

Nigerian tycoon Femi Otedola has shed light on his decision to invest in Dangote Cement.

He cited its alignment with his strategy for long-term wealth preservation and his confidence in the company’s potential to contribute to industrialization in Nigeria and Africa.

In a statement released by his media office, Otedola revealed his belief in Dangote Cement’s ability to generate foreign exchange for Nigeria, emphasizing its unique standing as the sole cement company in the country with two export terminals and a combined export capacity of 8 million tons per year.

Otedola expressed his confidence in Dangote Cement’s pivotal role as the largest cement producer in sub-Saharan Africa, boasting an annual production capacity of 51.6 million tons across 10 countries, and its influence in driving economic growth in the region.

According to Otedola, the strategic investment aligns with his vision for long-term wealth preservation and emphasizes his dedication to supporting businesses that contribute to Nigeria’s economic resilience. His confidence in Dangote Cement’s potential to generate foreign exchange for the country is a driving force behind the investment.

Otedola said, “Dangote Cement’s export capabilities and extensive operations across sub-Saharan Africa are essential for regional economic integration and growth.

“My investment is a testament to my confidence in its potential to propel Nigeria’s and Africa’s industrial and economic development,” he added.