Naija News Today & Breaking News|Saharaweeklyng December 23, 2024

…asBUA Chairman, Abdul Samad Rabiu, canvasses for new entrants, more investments, additionalcapacity in the Cement industry Abuja 08jul2021 - BUACement Plc, one of Africa’s largest Cement companies, today held its AnnualGeneral Meeting for the period ended December 31, 2020, whilst paying dividendsof N70billion at N2.067k per ordinary share in a move that shareholdersapplauded. This is coming on the heels of a profitable year for the Cementproducer with a turnover of N204bn and declared Profits After Tax ofN72.3billion in the year under review. Speaking at the AGM, Abdul Samad Rabiu, Chairman of BUACement, whilst addressing shareholders and the press, praised the efforts ofthe Yusuf Binji led management, staff, and customers of the company for ensuringthat BUA Cement remained the cement of choice for quality in Nigeria. In hiscomments on the increased demand for cement which had led to higher retailprices despite significantly lower ex-factory prices, Rabiu canvassed moreinvestments in the cement industry saying that current national productionlevels across were not enough to meet the ever-increasing national demand forcement which was increasing at a rate over 3million metric tonnes per annum. Hetherefore canvassed new investments in the cement sector and encouraged otherinvestors to develop new cement plants. It should be noted that BUA Cement isconstructing a 3million metric tonnes which is expected to come on Stream insokoto by the end of 2021 with new plants already in the works.In his comments, Yusuf Binji, Managing Director of BUACement Plc, said BUA Cement is committed to remaining a value–driven, orientedcompany that prioritizes excellence and product quality. He also added that thecompany was well-poised to sustain current profitability despite the verycompetitive landscape. According to Binji, “Our value proposition, in terms ofproduct and service support offerings has positioned BUA Cement as a marketleader. In addition, we continue to prioritize innovation and continuous improvement,thereby ensuring the continued “fit” of our products to ever-changing customerdemands and needs. We are also investing in the latest plant designs which notonly drive efficiency but translate into value addition to our customers throughthe cost savings derived.BUA Cement Plc is Nigeria’s second-largest cementcompany and the largest producer in its North-West, South-South, and South-Eastregions; BUA Cement operates strategically from Okpella, Edo State andKalambaina, Sokoto State. Currently, the second most capitalized manufacturing companyon the Nigerian Stock Exchange (NSE), BUA Cement is committed to quality - adifferentiating attribute, driven by its people, innovation, and technology;and positioned to solving Nigeria’s cement under capacity while drivingeconomic growth and development.

BUA CEMENT HOLDS AGM, DECLARES 72.3BILLION NAIRA PROFITS AFTER TAX, PAYS N70bn DIVIDENDS…

BUA CEMENT HOLDS AGM, DECLARES 72.3BILLION NAIRA PROFITS AFTER TAX, PAYS N70bn DIVIDENDS… …as BUA Chairman, Abdul Samad Rabiu, canvasses for new entrants, more...

Business3 years ago

BUA increases Price of cement by N200

BUA increases Price of cement by N200 BUA Cement Plc has increased the ex-factory price of its cement product by N200 per bag. The cement...

Business4 years ago

Healthcare: Ogun receives three ambulances from BUA Group

Healthcare: Ogun receives three ambulances from BUA Group In line with its synergy with the private sector, the Dapo Abiodun-led administration has taken delivery...

Uncategorized4 years ago

BUA SUGAR REFINERY LATEST: TRADE & INDUSTRIES MINISTER ADEBAYO REVERSES EARLIER DIRECTIVE ON SUGAR IMPORTATION FROM FREE TRADE ZONES INTO NIGERIA

BUA SUGAR REFINERY LATEST: TRADE & INDUSTRIES MINISTER ADEBAYO REVERSES EARLIER DIRECTIVE ON SUGAR IMPORTATION FROM FREE TRADE ZONES INTO NIGERIA Days after, sending out an...

Sahara Weekly Magazine

All posts tagged "BUA"

BUA CEMENT HOLDS AGM, DECLARES 72.3BILLION NAIRA PROFITS AFTER TAX, PAYS N70bn DIVIDENDS…

BUA increases Price of cement by N200

Healthcare: Ogun receives three ambulances from BUA Group

BUA SUGAR REFINERY LATEST: TRADE & INDUSTRIES MINISTER ADEBAYO REVERSES EARLIER DIRECTIVE ON SUGAR IMPORTATION FROM FREE TRADE ZONES INTO NIGERIA

Recent Stories

Africa Newsroom