Displaying items by tag: Nigeria
Block manufacturers warn of rising cement prices in Nigeria
08 January 2021Nigeria: The National Association of Block Moulders of Nigeria (NABMON) has warned that its members are struggling to continue their trade due to the high price of cement. The Daily Independent newspaper has attributed the price rise to post-coronavirus shutdown maintenance challenges in the cement industry, increased exports, logistical disruptions and an unseasonably high demand for cement. The association is lobbying government to put in place and enforce competition laws to help return the price to a more ‘stable’ level.
BUA Cement and Dangote to supply discounted cement for social housing scheme in Nigeria
05 January 2021Nigeria: BUA Cement and Dangote have signed an agreement with the government to supply cement at a discounted rate for the construction of 300,000 homes under the government’s Mass Housing Programme, according to The Sun newspaper.
Vice President Yemi Osinbajo said that the producers have agreed to provide cement for this project at a ‘considerable’ discount, which he described as ‘very helpful.’ He added, “Also important is the job creation aspect of it. You have young men and women who are builders, architects and civil engineers working on this project. We are hoping that a lot of the other building materials will be made locally.”
BUA Cement issues US$290m bond
05 January 2021Nigeria: BUA Cement has successfully concluded a US$290m Series 1 fixed-rate senior unsecured bond issue. The Punch newspaper has reported that the company utilised US$290m of its US$505m maiden bond issue in line with regulatory guidelines. It was nonetheless oversubscribed by nearly US$350m. The group said that it will apply to dual-list the bond on the relevant exchanges, subject to necessary approvals.
Lafarge Africa receives product quality certificates from Standards Organisation of Nigeria
05 January 2021Nigeria: The Standards Organisation of Nigeria (SON) has awarded Mandatory Conformity Assessment Programme product quality certificates to Lafarge Africa. The certificates were presented after the company’s Mfamosing cement plant met confirmatory and standardisation requirements set by the SON, according to the Punch newspaper. The subsidiary of Switzerland-based LafargeHolcim said that the certifications further demonstrated its commitment to ensuring quality assurance and compliance with the relevant product standards within the regulatory framework of the government. The certification process followed a series of inspections and connected analysis.
Nigeria: China-based Sinoma CBMI Construction has signed an agreement with BUA Cement to build three 3Mt/yr plants in Adamawa, Edo and Sokoto states respectively. When completed by the end of 2022, the projects will bring the producer’s installed capacity to 20Mt/yr, according to the Vanguard newspaper.
The deal is Nigeria’s largest ever single contract for the construction of cement plants. the project will cost US$1.05bn.
Lafarge Africa launches essay competition
10 December 2020Nigeria: LafargeHolcim subsidiary Lafarge Africa has launched a national essay competition entitled “Building the Nigeria of My Dreams.” The competition is open to all primary and secondary school pupils. The producer says that it ’further affirms the company’s commitment to bridging the literacy gap in Nigeria.’ It said, “This will help improve literacy amongst young adults and also engender loyalty to the nation as they will write about their hopes and aspirations of the Nigerian nation they desire. The online essay competition aligns with reports that show that citizens do much better when they are literate as they become equipped to become better adults and even more successful in their careers.”
Chief executive officer (CEO) Khaled El-Dokani said, "We recognise that the depth and quality of a country’s human capital are as important as its physical infrastructure, hence our investment over the past seven years in enhancing the Nigerian educational sector just as we are committed to empowering Nigerians through our world class building solutions.” He continued, “One of our key sustainability priorities at Lafarge Africa is our commitment to our communities through education and we are actively collaborating with the government and the private sector to improve the country's literacy ratio towards making an impact in reducing the World Bank estimate which states that over 80% of Nigerian primary school leavers cannot read.”
Communications, public affairs and sustainable development director Folashade Ambrose-Medebem said, “We have so far impacted more than 700,000 primary school pupils in 1665 schools across 544 local government areas (LGAs). Our volunteers, who are employees of Lafarge Africa have spent over 6212hr with over 250 public primary students. This crucial involvement shows our genuine concerns about Nigeria’s literacy gap and commitment towards bridging that gap.”
BUA Cement donates transformers to Okpella Community
13 November 2020Nigeria: BUA Cement has donated six transformer units with a total capacity of 400kW to Okpella Community in Edo State. The Daily Independent newspaper has reported that the company’s aim is to improve local access to electricity.
Managing director and chief executive officer (CEO) Yusuf Binji said, “Our commitment to sustainability, sustainable development goals and sustainable business practices will remain critical to our business at BUA Cement. We will keep pursuing an inclusive, safe, resilient, and sustainable environment. corporate social responsibility is how we colour the lives of those around us.”
Dangote Cement and Bua Cement given permission to export cement by land from Nigeria
11 November 2020Nigeria: Dangote Cement and Bua Cement have been allowed to export goods by land following a closure of land borders in mid 2019 due to smuggling. The government has granted permission for Dangote Cement to export its products to Niger and Togo, according to the Business Live newspaper. Bua Group has also received approval. However, Lafarge Africa has reportedly not yet received permission.
Dangote Cement increases nine-month sales by 12% to US$2bn
09 November 2020Nigeria: Dangote Cement has reported group sales of US$2.00bn in the first nine months of 2020, up by 12% year-on-year from US$1.79bn in the first nine months of 2019. Its cement volumes rose by 7% to 19.2Mt from 18.0Mt, while its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 17% to US$934m from US$797m.
Chief executive officer (CEO) Michel Puchercos said, “Dangote Cement’s strategy to offer high quality products at competitive prices is meeting customers' expectations in Nigeria and across the continent, where we continue to deploy excellent marketing initiatives and operational excellence. We remain committed to protecting our staff and communities by being fully compliant with health and safety measures in all our territories of operation. We are focused on adapting to the rapidly evolving markets in which we operate.”
The group said, “By 2021, all our countries of operation are estimated to return to growth, and we are well positioned to capture the demand eventually driven by this economic growth. We have seen a strong recovery across our operations in the third quarter of 2020, which is our strongest third quarter to date.” It added, “Our vision is for West and Central Africa to become cement and clinker independent, with Nigeria being the main export hub. This will notably contribute to the improvement of regional trade within the Economic Community of West African States (ECOWAS) region and beyond with the African Continental Free Trade Area (AfCFTA).”
Dangote Cement truck drivers protest alleged mistreatment
04 November 2020Nigeria: Dangote Cement truck drivers have used their vehicles to block entries to the company’s Obajana cement plant and a public road in protest to alleged illegal employment practices. The Daily Independent newspaper has listed the drivers’ alleged grievances as: salary deductions, including for damage to cement bags; arrests for no reason; and the sacking of 6000 drivers since 2016. The drivers are demanding the removal of National Director Transportation Juan Carlos Rincos and his deputy Babadinga Mohammed.
In response to the situation Dangote Cement said that, “the issues have been resolved.”