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Nigeria Cement: Infrastructure deficit and growing export market boost outlook

  • Recovery in cement consumption post-Covid has been impressive (+13% yoy). Low cement per capita shows room for growth

  • Nigeria's evolution from net importer to exporter of cement (taking advantage of AfCTA) offers opportunity

  • We update our views on our coverage companies – Dangote Cement (Hold) and Lafarge Africa (Buy)

Nigeria Cement: Infrastructure deficit and growing export market boost outlook
Janet Ogunkoya
Janet Ogunkoya

Senior Research Analyst

Tellimer Research
7 April 2021
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