Displaying items by tag: Nigeria

Nigeria: BUA Cement’s Sokoto cement plant has resumed operations following a fire that killed three workers. The Sun newspaper has reported that the fire began at a diesel storage tank depot near to the plant, where third-party contract workers were welding a diesel storage tank. The group said that it activated a swift response in order to prevent any escalation of the incident.

Nigeria: Germany-based Kreisel is supplying an RDG 2000 rotary valve to the site of a Nigerian cement plant project. The supplier says that the RDG 2000 can provide material flow rates of 570t/hr and is one of the largest rotary valves on the market.

Nigeria: Dangote Cement’s revenue grew by 33.8% year-on-year to US$3.33bn in 2021 from US$2.49bn in 2020. Its sales volumes rose by 13.8% to 29.3Mt from 25.7Mt driven by a strong domestic market, although international volume growth was strong. Earnings before interest, taxation, depreciation and amortisation (EBITDA) increased by 43.2% to US$1.65bn from US$1.15bn.

“Over the last two years, we have finalised the deployment of 6Mt new capacity in Nigeria. Looking ahead, we are now focused on a less capital-intensive expansion cycle, which includes building grinding plants across West and Central Africa to leverage and strengthen Dangote Cement’s regional integration. We are on track to deploy grinding capacity in Cote d’Ivoire and Ghana. In addition, our Alternative Fuel Project is at an advanced stage which aims to leverage waste management solutions, reduce CO₂ emissions, and source material locally. This year, we co-processed 89,000t of waste representing a 60% increase over 2020,” said chief executive officer Michel Puchercos.

The group noted that Cement demand in Nigeria was sustained by increasing housing infrastructure, commercial construction, and government projects including major highways, roads, and railways. In May 2021 it re-started exporting clinker from its Onne and Apapa terminals and delivered seven clinker shipments with a total volume of 197,000t in 2021. It also exported 706,000t in 2021 by road to Togo and Niger. Internationally, the group said that it performed well but it also faced challenges in Cameroon, Ghana and Sierra Leone, where freight costs had increased substantially, causing volatility in the landing cost of cement and clinker.

Germany/Nigeria: Germany-based Kreisel is sending a RDG 2000 type self cleaning rotary valve for the eventual use by client at a cement plant in Nigeria. The product weighs nearly 25t and has material flow rates of up to 570t/hr. The supplier says it is one of the largest self-cleaning rotary valve products that it provides. Such products are used to discharge typically wet or sticky bulk materials with a constant volume flow rate.

Nigeria: Lafarge Africa, Holcim’s subsidiary in Nigeria and South Africa, says that it acheived record full-year results in 2021. Its net sales were US$705m, up by 27% year-on-year from US$554m in 2020. Meanwhile, its recurring earnings before interest, taxation, depreciation and amortisation (EBIT) rose by 43% to US$157m from US$110m.

CEO Khaled El Dokani said "Our 2021 performance showed significant improvement.” He added “We are equally pleased with the progress we are making on sustainability. Our use of affordable clean energy and agro-ecology footprint are in accordance with our net zero pledge journey."

In 2022, the company forecast ‘good demand momentum’ as it continues to maximise volume opportunities across its markets, while actively managing costs. During the year, it also plans to consolidate its sustainability efforts.

Nigeria: The Cement Manufacturers Association of Nigeria (CMAN) has appointed Mohammed Lawal Bello as its chair.

Bello started his career 1985 as an engineer with the engineering and technical services department of the Nigerian National Petroleum Corporation and left in 1988 to set up his businesses. He is the founder of the Universal Petroleum Company, Robinson International Inspections, International Diamond Drilling Company and he also owns a joint-venture with US-based Delaney. His executive positions include chair of Nitel-Mtel and vice-chair of the Nigerian Electricity Regulatory Commission in Ambuja. He is also the chair of the Gede Foundation, a non-government organisation focused on health projects. Bello is a graduate of Harvard University in the US and a member of the Energy Institute in the UK.

Nigeria: President Muhammadu Buhari inaugurated BUA Group’s new 3.0Mt/yr Line 4 at its Sokoto plant in northern Nigeria on 27 January 2022. The plant is the largest private sector employer of labour in the north-western part of Nigeria.

At the inauguration, the President expressed delight that the Federal Government policies on economic diversification, job creation and creating an enabling environment for businesses to thrive were working. He pledged to continue his administration’s support for ‘serious investors’ to set up businesses that will take advantage of huge reserves of resources in different parts of the country.

The President thanked the Founder of BUA Cement, Abdul Samad Rabiu and the BUA team for the ‘great work they are doing’ in supporting the government's economic diversification and job creation agenda.

Speaking personally, President Buhari added that, as the head of Sokoto State in 1985, he had also inaugurated Line 2 at the same plant, saying, "Today, almost 37 years later, to commission the fourth line is a very special day for me personally. As you all know, one of the key economic pillars of our administration has been to create an enabling environment for businesses to thrive. This is necessary for job creation and indeed, for our economy and national security.”

Nigeria: Dangote Cement announced on 26 January 2022 that it bought 126.75 million of its own shares in the week to 21 January 2022, the second tranche of a buyback programme set to return cash to shareholders. The producer, majority-owned by Africa's richest man Aliko Dangote, aims to buy back up to 10% of its US$41m share capital in tranches. The company now has 16.87 billion shares outstanding.

Nigeria: Aliko Dangote has retained his position as the richest man in Africa, with a net worth of US$12.1bn for the 11th consecutive year, according to Forbes’ Top 10 List of African Billionaires. The owner of Dangote Cement saw his personal wealth increase by US$1.8bn, or nearly US$5m/day, in 2021, bringing it to US$13.9bn. A major contributing factor was a 30% rise in the share price of Dangote Cement, his most valuable asset. This was due to a surge in housing developments in Nigeria and growth in government infrastructure spending in 2021.

The Forbes list also ranked Abdul Samad Rabiu as the fifth richest African. He founded and chairs Nigeria-based cement producer BUA Group.

Nigeria: Dangote Cement plans to buy back 1% of its issued shares under its on-going share buyback programme. The Business Post newspaper has reported that the group launched the first tranche of the programme in 2020. At that time, it bought back 0.2% of its shares. Dangote Cement will make the currently planned purchase when the second tranche commences on 19 January 2022.