Nigerian cement demand to grow 45%

Cement demand in Nigeria has been forecast to increase by 45% this year, according to Stanbic IBTC Bank Plc. Cement production within the nation is also predicted to grow 63% this year, with demand set to rise to around 47.9 million tpa by 2014.

Nigeria is experiencing a boom in its construction industry, with domestic demand for cement due to increase as government revenue grows as a result of higher oil prices – Nigeria is the continent’s number one oil producer.

The nation is aiming to become a self-sufficient cement producer with plans to export product by 2013, at which point production is forecast to reach around 22 million t.

Read the article online at: https://www.worldcement.com/africa-middle-east/01112010/nigerian_cement_demand_to_grow_45_percent/