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BUA Cement holds FY2022 Annual General Meeting, Aims to Achieve 17 Million MTPA Capacity by Q1 2024

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BUA Cement holds FY2022 Annual General Meeting, Aims to Achieve 17 Million MTPA Capacity by Q1 2024
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…Impresses Shareholders with 40.3% Revenue Growth and 12.1% PAT Increase

 

 

 

Abdul Samad Rabiu, Chairman of BUA Cement Plc, Nigeria’s second-largest cement company, announced during the BUA Cement FY2022 Annual General Meeting that the company plans to commission its Obu Line 3 factory and Sokoto Line 5 factory by Q1 2024 with a combined capacity of 6million metric tonnes per annum. This expansion will raise the company’s total installed production capacity to 17 million metric tonnes per annum (mtpa). The announcement accompanied the presentation of BUA Cement’s full-year results, demonstrating a substantial 40.3% increase in revenue which reached ₦361.9 billion in 2022 from N257.3 billion in 2021. Additionally, BUA Cement’s Profit after Tax (PAT) recorded a 12.1% rise, climbing to ₦101.0 billion in the year under review, compared to N90.1 billion in FY2021.

 

BUA Cement holds FY2022 Annual General Meeting, Aims to Achieve 17 Million MTPA Capacity by Q1 2024

 

 

 

Addressing shareholders, Chairman Abdul Samad Rabiu emphasized that despite the challenging macroeconomic environment, BUA Cement is steadfast in its commitment to being the preferred provider of quality cement for dependable housing and infrastructure development in Nigeria. He further stated that the introduction of the new production lines in early 2024 positions BUA Cement to address the growing cement demand within Nigeria, and also expand export volumes to neighboring African countries.

 

 

 

 

BUA Cement holds FY2022 Annual General Meeting, Aims to Achieve 17 Million MTPA Capacity by Q1 2024

 

 

Abdul Samad Rabiu stated, “BUA Cement will continue its unwavering focus on innovative product delivery, efficient logistics, and tailored sales solutions for our diverse customer base across Nigeria, and Africa. In addition, we are dedicated to improving the well-being of our host communities through sustainable development initiatives.”

 

 

 

 

Regarding the issue of high cement prices in the country, Abdul Samad Rabiu highlighted that BUA Cement Plc’s forthcoming introduction of the Obu Line 3 and Sokoto Line 5 in Q1 2024 aims to alleviate the surge in demand in Nigeria and contribute to making cement more accessible and affordable, in line with the direction of the Federal Government to boost infrastructure development. He affirmed, “Our company remains resolute in its strategies, chiefly centered on market consolidation. We have a presence in every market throughout the nation. The completion of Lines 3 and 5 in Obu and Sokoto respectively, will empower us to offer better prices, and more significant quantities of cement to the domestic market, thus strengthening our market share across Nigeria, and Africa. I am confident in BUA Cement’s ability to play a role in reducing cement prices in Nigeria.”

 

BUA Cement holds FY2022 Annual General Meeting, Aims to Achieve 17 Million MTPA Capacity by Q1 2024

 

 

Engr. Yusuf Binji, Managing Director of BUA Cement Plc, underscored the company’s dedication to efficient energy utilization in the cement production process. He also revealed potential plans for introducing a new product in the upcoming year to align with customer needs and preferences. Engr. Binji stated, “BUA Cement is attuned to customer demands and market trends. Whilst we continue to work on making our production process more energy efficient, we are also exploring the possibility of introducing a new product next year.”

 

 

 

BUA Cement is Nigeria’s second largest cement company with a current installed capacity of 11million metric tonnes per annum. The company aims to reach 17milliom metric tonnes per annum with the completion of two new plants in Edo and Sokoto by early 2024.

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PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

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PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

*PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

 

To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.

 

UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.

 

In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.

 

Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.

PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status 

We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.

 

Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.

 

Thank you.

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Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

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Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

 

 

 

Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”

 

Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.

 

The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.

 

This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.

 

Speaking on the collaboration, the Laffmattazz team stated:

 

“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”

 

As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.

 

With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.

 

 

About Laffmattazz

 

Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.

 

About First Bank of Nigeria Limited

 

First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.

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MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria

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FirstBank Set to Launch Tailored Financial Services for Blind and Physically Challenged Customers  

MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria

 

 

 

Anyone who has tried to get a loan to buy a house in Nigeria knows the drill: endless forms, property valuation, and eventual down payment of a minimum 25% or more on the property. Sometimes, interest rates could go as high as 30% per annum, while the typical loan limit is N50 million.

 

 

 

Now, FirstBank is making homeownership more attractive.

 

 

 

FirstBank, in partnership with the Ministry of Finance Incorporated (MOFI), has introduced the MREIF Home Loan. MREIF loan is a game-changer, offering a single-digit interest rate of 9.75% per annum, with a loan amount of up to ₦100 million and a repayment period of up to 20 years. This is perfect for salaried individuals, including Nigerians in the diaspora, looking to purchase homes in approved locations.

 

The MREIF loan stands out with its lower interest rate, higher loan amount, and flexible equity contribution as low as 10%. This makes it an attractive option for those seeking affordable homeownership.

 

 

 

You are one quick decision away from being a landlord.

 

 

 

If you’ve been waiting for the right time to buy a home, FirstBank’s MREIF Home Loan is the smartest route to owning property in Nigeria today. Visit the FirstBank website https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ to get started.

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