Billionaire business man, who is also a distinguished entrepreneur and investor, Femi Otedola, has announced a significant acquisition of shares in Dangote Cement, the only cement company in Nigeria with two export terminals, with a combined export capacity of eight million tons per annum.
This strategic investment underscores Mr Otedola’s confidence in Dangote Cement’s potential to generate foreign exchange for the country and his dedication to supporting businesses that contribute to Nigeria’s economic resilience.
Though the businessman did not however, disclose the volume of shares he acquired, Premium Times had exclusively reported that he bought N6 billion worth of stocks in the company.
As Sub-Saharan Africa’s largest cement producer, Dangote Cement boasts an annual production capacity of 51.6 million tons across ten countries. This extensive footprint not only highlights the company’s dominance in the cement industry but also its crucial role in driving economic growth across the region.
Dangote Cement’s export capabilities and extensive operations across Sub-Saharan Africa are essential for regional economic integration and growth,” Mr Otedola said. “My investment is a testament to my confidence in its potential to propel Nigeria’s and Africa’s industrial and economic development.”
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.
“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,” the businessman said.
“Dangote Cement’s track record of dividend payments, exceeding N2.1 trillion in recent years, and its commitment to sustainable business practices resonate with these principles. Mr Otedola’s investment strategy prioritises companies that are well-managed, have strong governance, and operate 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.
“Companies like Dangote Cement, which consistently deliver value to their shareholders, are fundamental for sustainable economic growth. My investment reflects my belief in its capacity to continue providing significant returns and my commitment to businesses that prioritize their shareholders.”
The evolving regulatory landscape in Nigeria, emphasising Environmental, Social, and Governance (ESG) compliance, complements Mr Otedola’s investment criteria.
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