Cement News tagged under: Nigeria
Nigerian cement price hike causes concern for building standards16 December 2020, Published under Cement NewsThe Nigerian Institute of Building (NIOB) has said the significant rise in cement prices in the country and the low purchasing power of Nigerians may result in a danger to building construction standards, according to This Day. The institute has therefore called upon the government's intervention. Cement prices recently increased from around NGN2600/50kg (US$6.86) to NGN3500/50kg. The NIOB has stated that the price increase could exacerbate an already volatile and precarious situation. Th... |
Community petitions Dangote for payment of land ownership entitlements19 November 2020, Published under Cement NewsMembers of the Ijako-Orile community in the Yewa North area of Ogun State, Nigeria, have staged a peaceful protest, urging for the payment of their ownership entitlements to the land on which the Dangote Cement factory is situated in Ibese, according to This Day. Representatives of the community have also submitted a letter of appeal to the president of Dangote Cement, Alhaji Aliko Dangote, over the issue. In their petition, the Ijako-Orile community say they own the land upon which the f... |
Dangote allowed to resume overland exports11 November 2020, Published under Cement NewsNigeria’s government has allowed Dangote Cement to resume exports across the country’s land borders, reports Bloomberg. The step has raised expectations that the country may be opening up trade with its neighbours again. Land borders have been closed for over one year as authorities curbed smuggling and wanted to boost local production. While it encouraged the consumption of locally-grown produce such as rice, factories across west Africa have been impacted by the closure. The regime of ... |
Dangote posts 12% rise in 3Q revenue09 November 2020, Published under Cement NewsDangote Cement plc reported a revenue of NGN761.4bn (US$1.987bn) in the nine months ended 30 September 2020, representing a 12 per cent YoY rise when compared with 9M19, according to a statement by Michel Puchercos, group CEO. Group EBITDA advanced 17.1 per cent to NGN355bn. “The Cement Group’s revenue went up by 12 per cent to NGN761.4bn compared to NGN679.8bn in 2019 with domestic operations accounting for NGN535.51bn which compared to NGN467.88bn up by 14.5 per cent. Pan-Africa operati... |
Lafarge Africa sees revenue increase 10%03 November 2020, Published under Cement NewsLafarge Africa has reported a 10.3 per cent YoY increase in revenue to NGN179.88bn (US$464.57m) for the 9M20, against NGN163.1m in the year-ago period. Its profit after tax from continuing operations also surged 37.5 per cent YoY to NGN28.2bn from NGN20.5bn. In the third quarter of the year, revenue advanced 31.4 per cent to NGN59.34bn from NGN45.17bn in the 3Q20. Profit after tax from continuing operations reached NGN4.87bn, up 2.8 per cent from NGN4.73bn last year. |
BUA Cement shows 21% surge in revenue30 October 2020, Published under Cement NewsNigeria’s BUA Cement has shown 21 per cent growth in revenue for the first nine months of 2020, rising to NGN156.55bn (US$412.05m) from NGN129.43bn in the 9M19. Profit after tax also advanced 24 per cent YoY from NGN43.25bn to NGN53.57bn. "We are quite optimistic about the future because it affords us not only with the opportunity to further evolve our business model but also provides an opportunity for accelerated development. We will continue to push to new markets aided by a focused di... |
Dangote's IPO on LSE not expected until 202329 October 2020, Published under Cement NewsNigeria’s Dangote Cement is not expected to attempt an initial public offering on the London Stock Exchange until at least 2023, according to News 24. "The London listing is not something which will happen in the short to medium term," said Temilade Aduroja, head of investor relations. "We are focussed on our export strategy and increasing our foreign-currency revenue." |
Lafarge Africa looks to scale-up Nigeria's road infrastructure14 October 2020, Published under Cement NewsLafargeHolcim Africa hosted a webinar on approaches to rapidly upscaling Nigeria's Economic Infrastructure, yesterday. Nigeria’s Honourable Minister of Works & Housing Guest of honour, Babatunde Fashola, led the discussions emphasising that the government is committed to renew, review and increase Nigeria’s infrastructure. Babatunde Fashola argued that Nigeria stopped investing in infrastructure in the 1970s and that it must get back to investing something similar today by investing a s... |
BUA Cement appoints new CFO05 October 2020, Published under Cement NewsNigeria's BUA Cement has appointed Jacques Piekarski as its new chief financial officer, effective 2 October 2020. Abdul Samad Rabiu, chairman, stated: "The board is confident that Piekarski’s broad experience, strong leadership capabilities and understanding of the industry will ensure that BUA Cement is well positioned to take advantage of available opportunities to drive improved operational performance and sustain our profitable growth trajectory." Prior to joining the company, Mr ... |
Dangote Cement PLC offers transparency for 2019 Annual and Sustainability Report24 September 2020, Published under Cement NewsDangote Cement offered transparency of the facts behind the figures of its combined Annual and Sustainability Report of 2019 in a webinar. The report was presented online yesterday to the capital market stakeholders. Michel Puchercos, Dangote Cement’s general managing director, said: "We continue our efforts on sustainability and governance with our seven sustainability pillars – 'The Dangote Way'. The seven pillars – cultural, economic, institutional, financial, environmental, operatio... |