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CEMENTING THE FUTURE: HOW BUA AND EDO STATE BUILT A PARTNERSHIP THAT’S TRANSFORMING LIVES By Jerry Wright-Ukwu

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CEMENTING THE FUTURE: HOW BUA AND EDO STATE BUILT A PARTNERSHIP THAT'S TRANSFORMING LIVES By Jerry Wright-Ukwu

FROM DUST TO DEVELOPMENT: HOW BUA CEMENT IS BUILDING A NEW ERA IN PARTNERSHIP WITH EDO STATE

~ Jerry Wright-Ukwu

 

In the quiet, lush landscapes of Okpella, Edo State, a visible transformation is underway. Once a sleepy community, it has become a bustling centre of industrial activity, with BUA Cement Plants at its heart. This is not just a story of cement production; it is a saga of growth, resilience, and an enduring partnership between BUA Cement PLC and the resilient people of Edo State.

It all began in 2008, when BUA Group, under the leadership of Abdul Samad Rabiu, acquired the struggling Edo Cement Company during Nigeria’s Federal Government-led divestment and privatisation exercise. The Edo Cement plant was barely functional, with antiquated equipment and limited output.

BUA Cement’s journey began in 2008 when the BUA Group acquired the struggling Edo Cement Company. At the time, the plant was operating well below capacity, saddled with outdated equipment, limited output, and inefficiencies. For many, it was a symbol of lost potential. But for Rabiu, it was an opportunity to redefine what was possible for Edo State’s industrial landscape – a chance to turn it into a powerhouse. By 2015, after investing over $1 billion, the first line of the Obu Cement Plant was operational, and it quickly became one of Africa’s most advanced cement facilities.

Since then, the company’s financial fortunes have mirrored its operational growth. In 2019, BUA Cement consolidated its operations by merging its subsidiaries, including the Cement Company of Northern Nigeria (CCNN) and Obu Cement Company. The merger streamlined operations and positioned BUA Cement as Nigeria’s second-largest cement producer, with a market share rivalling industry leader Dangote Cement.

The next milestone came in January 2020 when BUA Cement was listed on the Nigerian Exchange Group (NGX). With an initial market capitalisation of ₦1.18 trillion, it instantly became one of the most valuable companies on the exchange. The listing unlocked access to capital markets, enabling BUA Cement to fund expansions and further strengthen its balance sheet.

Today, BUA Cement’s financial performance is nothing short of stellar. Despite challenges in Nigeria’s broader economic landscape, the company has consistently delivered strong revenue growth and profitability. In the most recent fiscal year, BUA Cement reported revenues exceeding ₦300 billion, driven by increased production capacity and robust demand for cement in Nigeria’s booming construction sector.

While BUA Cement’s financial success is impressive, its contributions to Edo State’s economy go far beyond corporate earnings. The company is one of the state’s largest taxpayers, significantly contributing to Edo’s internally generated revenue (IGR).

Challenges, Settlements, and a Renewed Partnership

Despite its success, BUA Cement’s journey in Edo State hasn’t been without challenges. Disputes over ownership, royalties, and mining leases led to legal battles that threatened to overshadow the company’s contributions. These disputes culminated in the 2019 Terms of Settlement, a landmark agreement that resolved all outstanding issues and paved the way for collaboration.

Under the settlement, BUA Cement agreed to pay ₦5 billion in total, including an upfront payment of ₦2 billion and six monthly instalments of ₦500 million. The company also purchased the remaining shares in Edo Cement from minority stakeholders, consolidating its ownership.

“This settlement wasn’t just about resolving disputes,” says a senior government official. “It was about setting the stage for growth for BUA, Edo State, and our people.”

For years, legal battles cast a shadow over what was otherwise a story of progress. The 2019 Terms of Settlement with the Edo State Government, entered into judgment by the courts, ended years of litigation and legal battles. These payments were not merely obligations; they became the foundation for renewed trust and collaboration. The settlement not only resolved the disputes but also bolstered the state’s fiscal capacity, enabling investments in infrastructure, healthcare, and education, thereby benefiting the community at large.

 

Building Communities, Not Just Cement Plant

But BUA Cement’s impact goes far beyond the balance sheet. For the people of Okpella and Edo State, it has meant jobs, empowerment, and a sense of belonging. Currently, over 2,000 people are directly employed by the company, with thousands more benefiting indirectly. Women like Efe, who lives in the state capital, Benin, and now runs a thriving cleaning services business, speak of opportunities that were once unimaginable. Thanks to the bustling activity around the plant, farmers like Azeez now have a reliable market for their goods. These are just some of the stories of transformation driven by BUA Cement’s presence.

“BUA is not just a company,” says a community leader in Okpella. “It’s a partner in our growth. We have a community development agreement with them which they faithfully keep to”

BUA’s Corporate Social Responsibility (CSR) efforts have also transformed the community. Roads that were once impassable now connect villages and markets. Schools have been renovated, scholarships awarded, and health centers established. Clean water, once a luxury, now flows in homes across Okpella. Additionally, BUA Cement has initiated programs to support local entrepreneurs, promote education, and improve healthcare facilities in the region.

“We don’t just produce cement here,” says a senior executive at BUA Cement. “We build communities.”

 

The Future of BUA Cement in Edo State

However, beyond production targets and financial milestones, BUA Cement envisions its role as a partner in Edo State’s progress, reaffirming its commitment to the state. “We’re not just here to do business,” says a senior executive at BUA Cement. “We’re here to build a future—one where Edo State thrives alongside us, a future that we are committed to shaping and nurturing.”

As Nigeria’s infrastructure needs to grow, so does the role of BUA Cement. Plans are already underway to expand production capacity to 20 million metric tonnes per annum by 2027, a move that will create even more jobs and economic opportunities. But expansion isn’t just about scaling up; it’s about doing so responsibly. Environmental sustainability remains a priority, with investments in cleaner energy and advanced technologies to reduce emissions, minimise ecological footprint, and ensure its operations align with global sustainability standards.

“We see Edo State as a partner, not just a location for our business,” the executive adds. “Our investment here is long-term. We want to grow together, to ensure that our success translates to prosperity for everyone—government, communities, and businesses alike.”

For residents of Okpella and beyond, BUA Cement is more than a corporate giant; it’s a neighbour, a partner, and a symbol of what is possible when business and community grow together. With its strong financial foundation, unwavering commitment to development, and vision for the future, BUA Cement is not just producing cement—it’s building the foundations of prosperity in Edo State.

For the Edo State Government, the relationship with BUA Cement represents a model for how public and private sectors can collaborate for mutual benefit. While the challenges of the past cannot be forgotten, they serve as a reminder of what can be achieved when both sides commit to a shared vision.

As Okpella continues to grow, the story of BUA Cement is a powerful example of what is possible when vision meets partnership. It’s not just about the cement; it’s about building a future where industry and community thrive side by side. For the people of Edo State, BUA Cement is more than a business—it’s a beacon of what progress can look like, and as the company looks to the future, one thing is clear: its commitment to Edo State remains unshaken. Together, they will continue to write a story of resilience, growth, and shared success.

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GTCO vs. Very Dark Man: Why Nigerians Must Stop the Judgment of Emotions

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*GTCO vs. Very Dark Man: Why Nigerians Must Stop the Judgment of Emotions*

By Osho Oluwatosin

The internet has literally been on ‘fire’ since Friday following the arrest of self-acclaimed Nigerian activist, Martins Vincent, also known as Very Dark Man. He was reportedly picked up by the Economic and Financial Crimes Commission (EFCC) for reasons yet unknown.

While it’s not the first time VeryDarkMan or any prominent Nigerian would be arrested by the EFCC — a government agency not under the authority of any private organization — it seems some Nigerians are passionately trying to push a narrative that his arrest was orchestrated by one of Nigeria’s biggest financial institutions, Guaranty Trust Holding Company (GTCO).

Although this narrative isn’t far-fetched — VDM had criticized the bank due to ‘mysterious’ deductions from his mother’s bank account for unjustifiable reasons. He approached the bank’s branch in Abuja to make an official complaint and, afterwards, he was picked up by the EFCC. But what many Nigerians have failed to realize is GTCO may not even be involved in his arrest.

VeryDarkMan was seen in the bank, quite alright, but in a CCTV released by the bank, he was seen moving out of the bank when he finished. He even had a celebrity moment with some of his followers who took pictures with him before he was arrested. So I’m wondering, what has GTB got to do with his arrest? That someone got knocked down by a vehicle after leaving church, does it mean the church orchestrated the accident? That someone got attacked after leaving a lecture room, does it mean the lecturer orchestrated it? That someone even got attacked in a courtroom, does it mean the judge orchestrated it? Absolutely not.

Although it would have been better if the EFCC had come out to clear the air regarding the reason for VDM’s arrest, because in the absence of information, rumours are bound to thrive. In fact, the commission should have actually released a statement regarding these rumours, not to vindicate GTB, but to keep Nigerians informed.

Let’s even think about it logically: what can warrant GTCO to order VDM’s arrest by the EFCC? Did he defraud GTCO? Did he steal from a GTB customer? Did he launder money through a GTB account? These are questions that should be asked before passing judgments. But Nigerians are always emotional when it comes to issues like this, and that’s why people who are culpable in serious crimes get away with anything as long as they get involved in charity or activism.

GTCO has been a very friendly organization, and in 2024 alone, the bank paid a record dividend of N8 per share. The bank is happy, shareholders are happy, customers are happy — who is Very Dark Man?

Osho Oluwatosin is a Nigerian journalist and writes from Lagos.

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Can We Have More Bankers Like Victoria Mulero? An epitome of ‘omoluabi’

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Can We Have More Bankers Like Victoria Mulero? An epitome of ‘omoluabi’

In February of this year, I needed to open a new bank account for salary purposes, as required by the management of the new company I had just joined.

I considered First Bank, Access Bank, and Sterling Bank. After some thought, I chose Sterling Bank—not because I found them superior—but because I believed they had fewer customers, which I hoped would save me from long queues and unnecessary delays.

I visited the Sterling Bank branch at Akowonjo to open the account. Unfortunately, the staff member who attended to me didn’t inspire confidence. She appeared distracted—smiling at her phone, clearly engrossed in a private chat—far from the level of professionalism one would expect in a bank setting. I had a feeling this would lead to problems down the line.

 

When my first salary was paid into the account, my suspicion was confirmed. Sterling Bank restricted access to my funds—I couldn’t transfer money or make withdrawals at the counter. I visited their Fatai Atere branch at Ladipo, Mushin to complain, where I was informed that the account opened for me was a “Kaikai” account—a type I had never heard of. Apparently, this account type is meant for individuals who lack the required documents during account creation. But I had submitted all necessary documents, so why was such an account opened for me?

Can We Have More Bankers Like Victoria Mulero? An epitome of 'omoluabi'

At the Fatai Atere branch, I was attended to by a remarkable banker named Victoria Mulero. She requested my NIN, which I didn’t have on me at the time. Rather than send me back home, she asked if I had a digital copy. I did, and she graciously gave me her email address so I could forward it to her. With that, she resolved the issue promptly and professionally.

However, the following month, in March, the same restriction happened again. I returned to the Fatai Atere branch, and once again, Victoria Mulero handled my complaint with efficiency and kindness, resolving it without delay.

I hoped the matter was finally settled, but when my April salary arrived, the restriction was imposed yet again. This time, I was beyond frustrated and ready to replace Sterling Bank as my salary account. Still, I visited the Fatai Atere branch one last time. Once more, Victoria Mulero resolved the issue with grace and determination.

This write-up is a tribute to Victoria Mulero of Sterling Bank, Fatai Atere branch. She is a rare gem—respectful, diligent, and genuinely customer-focused. She went above and beyond, following up with the Akowonjo branch through calls and emails until the matter was fully resolved. She handled every situation with patience and empathy, treating the job as if the bank belonged to her family.

To be honest, I’ve had unpleasant experiences with many bankers, especially female staff. Too often, they carry personal frustrations into the banking hall and take it out on customers. But Victoria is different. She exemplifies what true customer service should be.

We may not all be the same, but treating people with respect and kindness is a skill that can be learned—and Victoria clearly has. Let’s celebrate her for being a model professional and a beacon of hope in an industry that too often lacks empathy.

Without any fear of contradiction, I say boldly that Victoria Mulero is a good ambassador of Sterling Bank and her parents too deserve encomium for raising a well trained daughter and impacting an attitude of ‘ omoluabi’ in her. We need more of Victoria Mulero in our banking industry.

Seun Jacob Ogunbiyi
Known as Olùkọ́, the therapeutic writer and Lagos based journalist

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Air Peace Airlines’ failure to adhere to scheduled departure times results in prolonged delays …causing undue hardship for Nigerians on board

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Air Peace Airlines' failure to adhere to scheduled departure times results in prolonged delays ...causing undue hardship for Nigerians on board ~Oluwaseun Fabiyi

Air Peace Airlines’ failure to adhere to scheduled departure times results in prolonged delays
…causing undue hardship for Nigerians on board

~Oluwaseun Fabiyi

Traveling is undoubtedly the most effective form of education, enabling individuals to observe human quirks from diverse perspectives

On Saturday, 3rd May 2025, an Air Peace Airlines flight from Akure Airport was delayed, causing undue inconvenience to a Nigerian traveller and a prominent Nigerian man of God, an unfortunate incident that befell the nation’s citizens

Does Nigerian law consider it a criminal offense for travelers to book flights with Air Peace, a leading Nigerian airline, instead of other airlines that fail to depart on schedule, such as remaining at 10am instead of departing at 10am? Certainly, some Nigerian citizens may opt to travel with airlines like Arik, Aero, Dana, rather than Air Peace.

Air Peace Airlines' failure to adhere to scheduled departure times results in prolonged delays
...causing undue hardship for Nigerians on board
~Oluwaseun Fabiyi

It is evident that many Nigerians actually believe Air Peace airline came to rescue Nigerians from the subpar fly-and-die experience of other airlines, such as Dana, which is why many have fallen in love with Air Peace Airlines’ domestic operations

 

Air Peace Airlines’ decision to reschedule a 12:00 flight from Akure in Ondo State to 3:00 on Saturday, 3rd May 2025, has been met with disappointment from some affected Nigerian passengers, who deem this change unreasonable and unjustified.

Nigeria is hindered by self-imposed challenges that impede our collective advancement. I remain optimistic that future leadership will emerge, focusing on nuanced details that cumulatively enhance the lives of citizens, including access to housing, affordable food, petrol, quality healthcare, and a decent standard of living. The fact that we produce rice, only to have its price inflated by some, thereby rendering it unaffordable, is a pressing concern

It is baffling to me why some people or airlines deliberately provide poor services, causing undue hardship for their passengers, without taking the courtesy to apologize

How can passengers ensure they arrive at Akure Airport by 10 a.m. to catch a 12 p.m. flight from Akure to Lagos and complete check-in as usual

Only for them to fall victim to an extremely harrowing experience. The first indication was the outrage of a passenger at the Nigeria Air Peace counters. He yelled at the ticketing officials that his time had been wasted by three hours and demanded to be refunded his money, as his business was equally affected.

The scene was remarkably congested, and indeed there was an exceedingly large number of passengers traveling to Lagos on this particular Air Peace flight.Which none of them can comprehend what could cause a delay from 12 O’clock to 3:15 pm, without considering individuals with an assignment or occasion in Lagos, is so crazy and devastating.

*How Passengers suffer through endless delays waiting for Air Peace aircraft.*

Accordingly, they embarked on an extended wait after Air Peace notified them that the flight had been postponed by an hour. Ultimately, the delay proved to be three hours, with the flight arriving at 3:30 pm, followed by the commencement of boarding procedures

On a final note the Nigerian aviation industry, including airlines, can certainly improve their treatment of fellow Nigerians

Onboard passengers display concern and raise eyebrows.

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