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Nigerian cement demand growth underpins prospects for share-price advances at Lafarge Africa and Dangote Cement, while investors should steer clear of BUA Cement on valuation grounds, according to research this month.
Growth prospects for Nigerian cement producers are supported by the country’s low consumption combined with need for more infrastructure such as roads. Nigerians consume about 105 kilograms of cement per head per year, far behind Egypt on 570 kg and South Africa on 210 kg.
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