Cement News tagged under: Nigeria
Lafarge Africa inaugurates AFR platform at Mfamosing plant13 November 2024, Published under Cement NewsLafarge Africa Plc has launched its new alternative fuel and raw material (AFR) platform at the Mfamosing plant in Cross River State, Nigeria, aiming to replace conventional fossil fuels with energy derived from non-recyclable waste. The initiative aligns with Lafarge’s commitment to reducing CO 2 emissions and supports Holcim Group’s global net-zero strategy. At the launch event, Lolu Alade-Akinyemi, GMD/CEO of Lafarge Africa, stated, “This facility enables us to lower CO 2 emissions... |
Dangote reports increase in group EBITDA of 27%28 October 2024, Published under Cement NewsDangote Cement Plc has reported strong financial results for the nine months ending 30 September 2024, with group revenue increasing by 69.1 per cent YoY to NGN2.56trn (US$1.56bn). Group EBITDA also rose by 37.1 per cent YoY to NGN908.7bn, maintaining a 35.5 per cent margin, despite inflationary pressures and currency depreciation. Profit after tax grew marginally by 0.6 per cent to NGN279.1bn, largely affected by FX losses, according to Arvind Pathak, CEO. In Nigeria volumes rebounded... |
BUA's pricing strategy comes sunder scrutiny amid Nigerian housing deficit02 September 2024, Published under Cement NewsBUA Cement ’s pricing strategy has come under scrutiny as part of the ongoing debate over high cement prices in Nigeria. Abdul Sam Rabiu, chairman of BUA Cement, addressed the issue at the company’s 8th annual general meeting in Abuja, Nigeria. He attributed the escalating cement prices to middlemen, who have been selling cement at bag prices far above the intended NGN3500 (US$2.19), with some selling for as much as NGN8000. Mr Rabiu noted, “We were selling cement at NGN3500 with the ... |
New 10Mta Nigerian plant set for 2025 start-up13 August 2024, Published under Cement NewsNigeria-based Residence Cement Co plans to establish a cement factory in the Gwana district of Alkaleri Local Government Area of the state in the first quarter of next year. Gwana State Governor, Bala Abdulkadir Mohammed, disclosed that Residence Cement Factory has resolved to invest US$1.5bn in establishing the Gwana cement factory, which would commence in the first quarter 2025. Initial reports in the Society Herald in July 2024 reported that the plant would have a cement capacity of 10Mt... |
BUA Cement commissions Sokoto Line 530 July 2024, Published under Cement NewsNigeria’s cement industry continues its growth with the commissioning of BUA Cement’s fifth line at its Sokoto cement plant in the first quarter of 2024. By BUA Cement, Nigeria BUA Cement saw the completion of its Line 5 at the Sokoto plant, Nigeria, in the first quarter of 2024, bringing an additional 3Mta online at the site (© BUA Cement) N igeria-based BUA Cement plc operates two integrated cement plants in Sokoto and Edo states with a total installed capacity of 17Mt... |
Dangote Cement posts improved 1H net profit30 July 2024, Published under Cement NewsDangote Cement reports a revenue of NGN1.76tn (US$1.09bn) for the six months ended 30 June 2024, growing from NGN950.8bn in the same period in 2023, up 85 per cent YoY. Earnings per share reached NGN11.26, representing an eight per cent increase YoY. EBITDA for the period was NGN666.2bn, a 50.3 per cent increase from the NGN443.2bn reported the year previous. Net profits were posted at NGN189.9bn during the period, marking a six per cent growth from the NGN178.6bn for the correspondin... |
Lafarge Africa launches ECOPlanet Unicem24 July 2024, Published under Cement NewsLafarge Africa Plc has launched ECOPlanet Unicem, Nigeria's first low-carbon multipurpose cement. Designed with an over 30 per cent reduction in CO 2 emissions, ECOPlanet signifies a major step in the company’s ongoing commitment to sustainable building solutions. Produced at its Mfamosing plant in Cross River State, ECOPlanet will be unveiled nationwide by the end of the year, as Lafarge Africa aims to double its market presence and enable low-carbon construction at scale. Speaking... |
Nigerian House of Representatives threatens to issue arrest warrants for Dangote10 July 2024, Published under Cement NewsA committee from Nigeria’s House of Representatives, investigating the hike in cement prices, has warned it will issue arrest warrants for Dangote Cement’s management after executives failed to honour an invitation. Chaired by Jonathan Gaza, the House Committee on Solid Minerals issued the threat on 9 July during a National Assembly hearing after the company failed to show up. Gaza stated that the committee would give Dangote Cement another opportunity to comply before taking further action.... |
Dangote ramps up investment in Zambia with second plant24 June 2024, Published under Cement NewsDangote Cement has announced plans to double its investment in Zambia by building a second cement plant. The company has already constructed one plant in Masaita at a cost of US$450m but this investment will now be boosted to US$900m with plans for a second facility, reports The Guardian. The Masaita works is designed to have a cement production capacity of 1.5Mta and is scheduled to reach full capacity by the end of 2024. The new plant is expected to be commissioned soon. |
Renewed hope for Nigeria21 June 2024, Published under Cement NewsNigeria’s incoming president has his work cut out, faced with a worsening security situation, accelerating inflation, declining oil revenues and food insecurity. After some bold moves, his economic choices appear to be paying off, albeit slowly. But what does this mean for the country’s cement producers as they tackle overcapacity and spiralling cement prices? By Suzanne Starbuck, ICR Research, UK With Nigeria’s population due to reach 400m by 2050, the government has set an infrastru... |