2016: DangoteCem defies recession, records 25.1% growth - Nigeria Business News

In spite of the economic recession that hit Nigeria in 2016, especially the production industry due to the sharp crash in the value of the naira and difficult access to the dollar, the Dangote Cement PLC (DANGCEM-NL) has continued upward, with a strong volume growth that resulted in 25.1 per cent increase in revenues, amounting to N615.1 billion.

In the company’s audited results for the year ended December 31, 2016, the company’s Chief Executive Officer, Onne van der Weijde, reminded how challenging last year was, not just for Nigeria but for many African economies. “But” der Weijde remarked, “we achieved sales and revenue growth of 25 per cent and consolidated our position as Africa’s leading producer of cement.”