Cement News tagged under: Nigeria
BUA's pricing strategy comes sunder scrutiny amid Nigerian housing deficit02 September 2024, Published under Cement NewsBUA Cement ’s pricing strategy has come under scrutiny as part of the ongoing debate over high cement prices in Nigeria. Abdul Sam Rabiu, chairman of BUA Cement, addressed the issue at the company’s 8th annual general meeting in Abuja, Nigeria. He attributed the escalating cement prices to middlemen, who have been selling cement at bag prices far above the intended NGN3500 (US$2.19), with some selling for as much as NGN8000. Mr Rabiu noted, “We were selling cement at NGN3500 with the ... |
New 10Mta Nigerian plant set for 2025 start-up13 August 2024, Published under Cement NewsNigeria-based Residence Cement Co plans to establish a cement factory in the Gwana district of Alkaleri Local Government Area of the state in the first quarter of next year. Gwana State Governor, Bala Abdulkadir Mohammed, disclosed that Residence Cement Factory has resolved to invest US$1.5bn in establishing the Gwana cement factory, which would commence in the first quarter 2025. Initial reports in the Society Herald in July 2024 reported that the plant would have a cement capacity of 10Mt... |
BUA Cement commissions Sokoto Line 530 July 2024, Published under Cement NewsNigeria’s cement industry continues its growth with the commissioning of BUA Cement’s fifth line at its Sokoto cement plant in the first quarter of 2024. By BUA Cement, Nigeria BUA Cement saw the completion of its Line 5 at the Sokoto plant, Nigeria, in the first quarter of 2024, bringing an additional 3Mta online at the site (© BUA Cement) N igeria-based BUA Cement plc operates two integrated cement plants in Sokoto and Edo states with a total installed capacity of 17Mt... |
Dangote Cement posts improved 1H net profit30 July 2024, Published under Cement NewsDangote Cement reports a revenue of NGN1.76tn (US$1.09bn) for the six months ended 30 June 2024, growing from NGN950.8bn in the same period in 2023, up 85 per cent YoY. Earnings per share reached NGN11.26, representing an eight per cent increase YoY. EBITDA for the period was NGN666.2bn, a 50.3 per cent increase from the NGN443.2bn reported the year previous. Net profits were posted at NGN189.9bn during the period, marking a six per cent growth from the NGN178.6bn for the correspondin... |
Lafarge Africa launches ECOPlanet Unicem24 July 2024, Published under Cement NewsLafarge Africa Plc has launched ECOPlanet Unicem, Nigeria's first low-carbon multipurpose cement. Designed with an over 30 per cent reduction in CO 2 emissions, ECOPlanet signifies a major step in the company’s ongoing commitment to sustainable building solutions. Produced at its Mfamosing plant in Cross River State, ECOPlanet will be unveiled nationwide by the end of the year, as Lafarge Africa aims to double its market presence and enable low-carbon construction at scale. Speaking... |
Nigerian House of Representatives threatens to issue arrest warrants for Dangote10 July 2024, Published under Cement NewsA committee from Nigeria’s House of Representatives, investigating the hike in cement prices, has warned it will issue arrest warrants for Dangote Cement’s management after executives failed to honour an invitation. Chaired by Jonathan Gaza, the House Committee on Solid Minerals issued the threat on 9 July during a National Assembly hearing after the company failed to show up. Gaza stated that the committee would give Dangote Cement another opportunity to comply before taking further action.... |
Dangote ramps up investment in Zambia with second plant24 June 2024, Published under Cement NewsDangote Cement has announced plans to double its investment in Zambia by building a second cement plant. The company has already constructed one plant in Masaita at a cost of US$450m but this investment will now be boosted to US$900m with plans for a second facility, reports The Guardian. The Masaita works is designed to have a cement production capacity of 1.5Mta and is scheduled to reach full capacity by the end of 2024. The new plant is expected to be commissioned soon. |
Renewed hope for Nigeria21 June 2024, Published under Cement NewsNigeria’s incoming president has his work cut out, faced with a worsening security situation, accelerating inflation, declining oil revenues and food insecurity. After some bold moves, his economic choices appear to be paying off, albeit slowly. But what does this mean for the country’s cement producers as they tackle overcapacity and spiralling cement prices? By Suzanne Starbuck, ICR Research, UK With Nigeria’s population due to reach 400m by 2050, the government has set an infrastru... |
Mangal’s capacity build-up10 June 2024, Published under Cement NewsMangal Industries Ltd (MIL) is building a new production line in Kogi state, Nigeria. The new line will add 6000tpd of capacity to the plant when completed. By Binbin Wang and Kunqiang Ye, Sinoma Group, China Mangal Industries Ltd has started construction of a 6000tpd clinker lines in Kogi state, Nigeria (© Sinoma Group) M angal Industries Ltd (MIL) is investing in a 3Mta cement plant in Iluagba, Ìjùmú local government area, Kogi state, Nigeria. The project is curren... |
Dangote Cement commits to CNG trucks by 202531 May 2024, Published under Cement NewsDangote Cement has pledged that all of its trucks will be operating on compressed natural gas (CNG) by the end of 2025, reports Vanguard. According to the company, investments are already being made to ensure that thousands of its delivery trucks are run on CNG as part of the federal government’s agenda on the use of alternative fuels for official vehicles. The announcement came at Dangote’s annual general meeting in Lagos, where the company also gave an update on the ongoing construct... |