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Nigerian cement demand to grow 45%

World Cement,

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.

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