(Bloomberg) -- Dangote Cement Plc will sell to consumers directly to boost growth and overcome tough competition in its home market, the company ‘s chief executive officer said.
Africa's biggest cement maker is seeking to increase Nigerian market share from 63% to 65% with new strategies implemented at the end of the second quarter, CEO Joe Makoju said on an investor call in Lagos on Tuesday. The measures are already yielding positive results, he said. Dangote's dominance of the Nigerian market has declined from 66% in June 2018.
“We are ahead of 2018 and it is looking like it is going to have our best July. We expect to have stabilized at the end of third quarter” the CEO said.
President Muhammadu Buhari's cabinet selection and confirmation will grow cement demand for the rest of the year, according to Makoju.
“Expectations are high that ongoing government projects will be completed and that should give a big boost to sales,” he said.
To contact the reporter on this story: Tope Alake in Lagos at talake@bloomberg.net
To contact the editors responsible for this story: John McCorry at jmccorry@bloomberg.net, Anthony Osae-Brown
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