Four bid for Nigerian stake in Benin cement plant

Four bid for Nigerian stake in Benin cement plant
Published: 08 May 2007

Lafarge is one of four bidders competing for Nigeria’s 43 per cent stake in a cement plant in neighbouring Benin, Nigeria’s privatisation agency said on Monday.  
 
Privatisation is a key element of economic reforms being pursued by Nigerian President Olusegun Obasanjo, who must step down on May 29 after serving two terms. 
 
It was unclear whether the final sale of the stake would be completed before the handover to president-elect Umaru Yar’Adua. Yar’Adua has promised to continue Obasanjo’s reform agenda.  
 
The Bureau for Public Enterprises (BPE) said Flour Mills Plc and industrial conglomerates Dangote Ltd and BUA International were the other firms that submitted bids for the 550,000tpa Onigbolo Cement Co, which is controlled by the Benin government.