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FX Unification, OPEX Plods BUA Cement's Profit thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
Minister attributes 300% growth in BUA Cement's production to favourable business environment apanews.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apanews.net Daily Mail and Mail on Sunday newspapers.
Dangote Says pricing power is weaker overseas than at home in Nigeria. With Nigeria’s cement industry is a market controlled by 3 major players. Dangote Cement, Lafarge Africa and BUA Cement, Africa’s largest economy is producing at less than any country in Africa apart from maybe Niger Republic. That then means that we do not have enough capacity,” Rabiu said. To help address this and thus be able to effectively compete against the dominant player in the sector, BUA cement is pouring money into building new plants across different geographic locations in the country. The Nigerian consumption average to about 120-130kgs per person with comparable figures in most other African countries stands at about 170-200kgs per person. ....
The price cement in Nigeria currently hovering at about N3,500 per bag can fall by some 40 percent to N2,200 if there is an increase in capacity and production, stronger competition, and an opening up of the sector to more players as well as imports, according to Abdul Samad Rabiu, Chairman of BUA Group. Two of those factors (increased production and competition) are directly under the control of BUA which is working actively to achieve them so prices can begin to fall, Rabiu told MoneyCentral in an interview at his home in Lagos. “The price of Cement is high in Nigeria simply because we do not have enough supply. That is the simple answer. It’s simply a reflection of economics on the theory of the laws of supply and demand,” Rabiu said ....
The Chairman and Founder of the BUA Group, Alhaji Abdulsamad Rabiu in this interview spoke about a wide range of issues which included opportunities in the African Continental Free Trade Area agreement as well as the need to liberalise the cement industry so as to boost production and subsequently crash the price of the commodity. Obinna Chima and Goddy Egene provide the excerpts: The BUA Group recently sealed a deal for a refinery project, can you take us through the expectations from that project and when is it expected to be commence production? Nigeria is consuming a lot of petroleum products and we spend a lot of revenue in importing refined products. We spend a lot of money to transport crude oil and bring back the finished products. Most people ask why we are setting up a refinery when a big project that people believe would be producing a substantial amount is coming up. I believe Nigerians consume about 50 million litres per day. Then again, if you look at the reg ....