Cement News tagged under: Nigeria

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Nigerian producers agree to lower prices

22 February 2024, Published under Cement News

Nigeria-based Dangote , BUA Cement and Lafarge have agreed to lower cement prices in the country, despite rising production costs. According to This Day Live, the three manufacturers have stated that a 50kg bag of cement should have a maximum retail price of NGN8000 (US$4.98). Following a meeting with Nigeria’s Minister of Works and the Minister of Industry, Trade and Investments, the producers said a monitoring team would be set up to ensure compliance with the new pricing agreement.  ...

Cement prices surge in Enugu, Nigeria

16 February 2024, Published under Cement News

The price of cement has hit NGN13,000/bag (US$8.57) in Enugu, Nigeria, compared to around NGN5000/bag in January this year. According to Blueprint Newspapers, while Dangote Cement is selling for approximately NGN10,500/bag, brands such as Supaset and BUA have increased their prices to NGN12,000/bag and NGN13,000/bag respectively.  Some commentators have said the price increase is due to exchange rates with the US dollar, while fears have been raised throughout the construction industr...

Nigerian cement prices rise by 30%

05 February 2024, Published under Cement News

Cement prices in Nigeria have risen by 30 per cent in the last few days, reaching NGN6500 (US$5.44)/bag in some regions, reports The Guardian. The ripple effect across other building materials is already being seen with sandcrete blocks going up in price from NGN450 to NGN500 for a six inch block, while nine-inch blocks have increased from NGN550 to NGN600/block. The price of ready-mixed concrete has also risen, causing some constriction projects to come to a standstill. A number of de...

Dangote Cement attracts substantial investment

24 January 2024, Published under Cement News

Dangote Cement has become the first company to be valued at NGN10trn (US$11.76bn) on the Nigerian stock market. The company’s share price advanced by 9.99 per cent on 22 January 2024 to close at NGN592.60 per share, giving the company a market value of NGN10.1trn. The news follows an NGN6bn investment in Dangote Cement by Femi Otedola, a Lagos-based billionaire.  Mr Otedola told Nigerian media that the move was part of his overall strategy to ensure long-term wealth preservation and und...

Bedeschi wins order for four complete storage lines

23 January 2024, Published under Cement News

A China-based   EPC company has appointed Bedeschi to supply four complete storage lines for a Nigerian cement producer. Through the intense activity of the office Bedeschi Far East in Hong Kong, Bedeschi finalised the supply of 18 machines in the following storage systems: •   two lines for handling wet and sticky limestone and shale, including trippers, bridge stackers and bridge bucket reclaimers • one line for handling laterite, including a tripper, a travelling stacker and a side b...

RIGA wins maintenance deals with Lafarge Africa

09 January 2024, Published under Cement News

RIGA has been awarded for two maintenance contracts with Lafarge Africa Plc in Nigeria for two cement plants. The first contract is for the Mfamosing Cement plant in Calabar City. The second maintenance contract is for second the Ewekoro Cement plant (64km from Lagos), also in Nigeria.  

BUA Cement confirms 2024 cement prices

29 December 2023, Published under Cement News

Chairman of the BUA Group, Nigeria, Abdul-Samad Rabiu, has confirmed cement prices will be held at NGN3500 per bag (US$3.90) from January 2024.   He said the company would make the product accessible and affordable to customers, despite various challenges.   NGN3500 per bag is the ex works price, and does not include VAT or transportation costs to the customer.

BUA's Sokoto Line 5 begins production

20 December 2023, Published under Cement News

Production has begun at Line 5 of BUA Cement ’s Sokoto plant. The 3Mta expansion project forms part of the company’s plans to not only expand its production capacity but also bring down cement prices in Nigeria. In October this year BUA lowered its ex-factory cement price to NGN3500 (US$4.55)/bag, with the company announcing plans to review its prices even further in the opening quarter of 2024, reports The Capital.  The new line at Sokoto takes BUA’s total cement production capacity c...

A new era for Nigeria

05 December 2023, Published under Cement News

Nigeria’s new president signals the dawn of a new era as the west African country aims to address long-standing macroeconomic imbalances. The domestic cement sector continues to add additional capacity in view of long-term market potential, but a number of stumbling blocks need to be overcome before latent demand is realised. By Moses Waireri Njuguna, EFG Hermes, Nigeria. The inauguration of Nigeria’s new president is heralded as a new era for Nigeria as the country aims to address...

Sephaku Holdings' profit eroded by rising costs

14 November 2023, Published under Cement News

Sephaku Holdings (Sephold) reported revenue of ZAR626.6m (US$33.44m) in the six months ended 30 September 2023, marking a 19.7 per cent YoY improvement. However, net profit after tax over the same period declined from ZAR26.7m to ZAR19.7, while headline earnings per share fell from 11.26 cents to 7.54 cents, reports IOL.  According to the company, although activity in the construction industry improved, particularly in the civil construction and non-residential sectors, the rising cost...