Business

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

Published

2 weeks ago

January 10, 2025

Sahara Weekly

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 At the time, the plant was operating well below capacity, saddled with outdated equipment, limited output, and inefficiencies.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.

Related Topics:BUA BUA CEMENT Featured Society

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Business

Join the TM Foundation in Empowering Girls Through the Sanitary Pads Project

Published

1 day ago

January 23, 2025

Sahara Weekly

Join the TM Foundation in Empowering Girls Through the Sanitary Pads Project

Menstrual hygiene is a fundamental right, yet countless girls face the harsh reality of not having access to essential sanitary products. At the TM Foundation, we believe no girl should feel ashamed, miss school, or lose confidence due to a lack of resources during their period.

To combat this issue, we are proud to introduce the Sanitary Pads Project, a three-month initiative dedicated to distributing menstrual hygiene products to girls in need. This project aims to restore dignity, confidence, and hope for a brighter future.

However, we can’t do it alone. This mission depends on the kindness and support of individuals and organizations like you. Every donation, no matter the size, brings us closer to ensuring no girl is left behind.

Together, We Can Make a Difference
Your support will directly impact the lives of young girls, helping them stay in school, focus on their education, and thrive with confidence.

How You Can Help:
Visit www.tmfoundation.giving to make your contribution and be part of this life-changing initiative.

Let’s work together to break the barriers to menstrual health. With your help, we can create a world where every girl has the opportunity to succeed.

Thank you for standing with us in this important cause.

Email: [email protected]
Website: https://tmfoundation.giving/
Phone (South Africa): +27823781398 | +27747835891
|+27 81 289 0171 | +27 69 286 4950
Phone (Nigeria): +234 813 448 0159

Business

TM Foundation: Transforming Lives, One Generation at a Time

Published

2 days ago

January 22, 2025

Sahara Weekly

From Automobiles to Acts of Compassion: Olatunde Mukaila Lawal is Transforming Lives in South Africa

TM Foundation: Transforming Lives, One Generation at a Time

In a world where compassion is increasingly vital, TM Foundation stands out as a beacon of hope and empowerment. Established in 2019 by the visionary Olatunde Mukaila Lawal, this South Africa-based organization is dedicated to uplifting the elderly, less privileged kids, and the vulnerable, fostering stronger communities through a mission rooted in dignity, love, and care.

Making an Impact Since 2019

TM Foundation began with a simple yet powerful goal: to create meaningful change for those often overlooked. Since its inception, the foundation has provided vital resources and emotional support to kids, seniors and young individuals, bridging the gap between generations and creating a sustainable future for all.

“We believe in the transformative power of compassion,” says Lawal. “Our work is about more than just helping—it’s about empowering people and building stronger, more resilient communities.”

A Multi-Faceted Mission

TM Foundation operates on three key pillars:

Social Support and Companionship: Ensuring no one feels forgotten, the foundation offers a caring hand and a listening ear to, kids, seniors and others in need.

Promoting Wellness Across Ages:

Through various programs, TM Foundation prioritizes physical, mental, and emotional well-being for all generations.

Fostering Compassion and Understanding: Building bridges of empathy, the foundation strengthens the fabric of communities.

These programs aim to create lasting change by addressing both immediate needs and long-term challenges.

Why You Should Support TM Foundation

TM Foundation’s efforts rely on the support of individuals and businesses who share their vision. Your contribution—whether through donations, volunteering, or spreading the word—directly impacts lives. From funding wellness programs to providing companionship for seniors, every act of kindness counts.

“Together, we can ensure no one feels forgotten or alone,” Lawal emphasizes. “It’s about leaving a legacy of compassion and empowerment.”

How to Get Involved

There are many ways to support TM Foundation:

Volunteer: Offer your time and skills to assist in their programs.
Donate: Your financial contributions help sustain their impactful initiatives.
Raise Awareness: Spread the word about TM Foundation’s mission to inspire others.

Contact TM Foundation
Email: [email protected]
Website: www.tmfoundation.giving
Phone (South Africa): +27823781398 | +27 81 289 0171 | +27 69 286 4950 | +27747835891
Phone (Nigeria): +234 813 448 0159

Join TM Foundation today and become part of a movement dedicated to empowering seniors and young ones. Together, we can build a brighter, more compassionate future.

Business

Olam Agri and GIZ Sign MoU to Scale Up Sustainable Development in Global Agriculture and Food

Published

4 days ago

January 21, 2025

Sahara Weekly

Olam Agri and GIZ Sign MoU to Scale Up Sustainable Development in Global Agriculture and Food

Singapore, January 20, 2025 – Olam Agri, a market leading food, feed, and fibre agri-business, has signed a Memorandum of Understanding (MoU) with German development agency Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH to scale up sustainable development in the global agri-food sector. The MoU provides a framework that will facilitate collaboration between the two partners across staple agriculture supply chains that include rice, cotton, and rubber in developing markets in Asia, Africa, and Latin America. This extends and deepens the long-standing partnership that GIZ and Olam Agri have shared over the past 15 years helping smallholder farmers become more productive, profitable, and sustainable.

Three key objectives of the MoU are to support sustainable food production at a range of scales towards climate adaptation while protecting and preserving soil health, biodiversity, and water resources; to improve the livelihoods of smallholder farmers and providing them with access to key services and inclusive opportunities; and establishing sustainability and traceability across agriculture supply chains. This is aligned with Olam Agri’s purpose to transform food and agriculture for a more sustainable and food-secure future.

For joint projects, GIZ and Olam Agri have identified six priority intervention areas: nutrition-sensitive regenerative agriculture; harvest and post-harvest loss reduction; access to finance for smallholders; economic inclusion and rights; management of crop residues and reuse; and ecosystem services, including protection and restoration of ecosystems and carbon initiatives. Both partners will continue to identify topics relevant across value chains and regions to drive innovation and scaling, with possible cross-sectoral issues including climate and carbon credits, landscape-scale approaches, and digitisation.

Sunny Verghese, Co-Founder & Group CEO of Olam Agri, said: “We’ve shared a strong and fruitful relationship with GIZ over the years during which we’ve made significant inroads in transforming smallholder farming in several supply chains across many geographies to be more productive, profitable, and sustainable. I am thrilled to be signing this MoU with such a valuable partner that is GIZ and commit to collaborate even further to scale up our sustainability programmes in developing and emerging agriculture economies.”

Anna Sophie Herken, Managing Director at GIZ said: “The signing of this MoU with Olam Agri marks a pivotal step forward in our collaborative efforts towards sustainable food production. I am very happy and grateful that we can deepen and broaden our cooperation efforts simultaneously. We look forward to enhancing the scope and impact of our successful projects in climate-smart farming.”

The MoU builds upon years of successful cooperation between the two organisations since 2008. Starting in Africa, the partnership has expanded through several key initiatives. In the rice supply chain, for example, the progress the partnership has made with the founding of the Sustainable Rice Platform (SRP) in 2011 has led to positive transformation of the sector by advancing sustainable rice cultivation. Through climate-smart methods and technologies, sustainable rice cultivation reduces usage of water and fertilisers, and consequently significantly reduces the emission of methane, a greenhouse gas contributing to global warming. Under the joint efforts of GIZ and Olam Agri, the Market Oriented Smallholder Value Chain (MSVC) rice project in Southeast Asia has improved the livelihoods of more than 28,000 smallholder farmers and their families in four years, raising their incomes by 20 per cent while reducing their ecological impact. GIZ and Olam Agri continue to engage smallholder rice farmers in Southeast Asia in large scale projects and currently also cooperate in a regional sustainable cotton project in Togo, Côte d’Ivoire, and Chad, and in sustainable natural rubber in Côte d’Ivoire and Indonesia.