Cement News tagged under: Nigeria
Association calls for lower cement prices in Nigeria12 July 2019, Published under Cement NewsOyebamiji Dauda, chairman of the Lagos State Bricklayers’ Association, has urged the federal government of Nigeria to address the rising cement prices and as a result, increase access to affordable housing. In an interview with the News Agency of Nigeria, Mr Dauda stated that allowing more producers to operate in the market would make it more competitive. "There is the need for establishment of more cement manufacturing firms to help crash the price. Our observation is that high cost of c... |
Dangote Cement clocks in with iris technology11 June 2019, Published under Cement NewsDangote Cement is keeping an eye on staff arrival and attendance with an iris recognition system to keep tabs on its 30,000 employees located in five countries in Africa. Dangote's operations in Nigeria, Ethiopia, Senegal, Sierra Leone and Republic of Congo will use the iris-ID system. The software is contactless and simply uses the coloured part of the eye surrounding the pupil to identify staff. According to Preasanna Kumar Burri, Dangote Group chief information officer, the traditi... |
Dangote releases 2018 sustainability report31 May 2019, Published under Cement NewsDangote Cement Plc has published its first standalone sustainability report and has confirmed its readiness to support the Nigerian Stock Exchange (NSE) in its ambition to host a sustainable stock exchange and capital market in Nigeria. Dangote took part in the ‘Facts behind the Sustainability Report’ (FBSR), an interactive forum created by the NSE to promote environmental, social and governance performance and reporting among Nigerian companies. Joseph Makouju, group managing director of... |
Dangote Cement22 May 2019, Published under Cement NewsThe first quarter of 2019 saw Dangote Cement report a 2.3 per cent YoY increase in volumes to 6.3Mt. Over the same period, however, group revenue declined by 0.8 per cent to NGN240.2bn (US$668m) while EBITDA contracted by 11.2 per cent to NGN111.8bn. Nigeria: despite a subdued economy, the cement market grew by six per cent in 1Q19 with Dangote supplying almost 4Mt. Revenues, however, fell by 2.3 per cent to NGN169.9bn, EBITDA contracted by 10.4 per cent and margins fell to 60.9 per cent ... |
Post-merger CCNN reports improved 1Q19 results08 May 2019, Published under Cement NewsNigeria’s Cement Co of Northern Nigeria (CCNN) saw its net profit after tax soar by 236 per cent YoY to NGN3.636bn (US$10.1m) in the first quarter of 2019 ended 31 March. The merger with Kalambaina Cement Co Ltd is seen as a key reason for the improved profit figure. In the post-merger three-month period revenue saw a 213 per cent hike to NGN16.886bn from NGN5.394bn in 1Q18. Sales volumes increased by 233 to 411,945t with a capacity utilisation rate of 82 per cent. Strong domestic demand... |
Dangote Cement sees volumes rise, revenues down in 1Q1929 April 2019, Published under Cement NewsDangote Cement reported increased volumes of 6.3Mt, up 2.3 per cent YoY, in the first quarter of 2019. However, group revenues slipped 0.8 per cent to NGN240.2bn (US$668m) and group EBITDA fell 11.2 per cent to NGN111.8bn. Nigeria Despite a subdued domestic economy, Nigeria’s cement market remained robust, expanding by six per cent in the 1Q19. However, the rate of growth slowed in February and March. As a result, Dangote’s Nigerian operations supplied nearly 4Mt, its third-highest qua... |
Ebonyi plant receives government approval19 April 2019, Published under Cement NewsThe establishment of Ebonyi Cement factory (EBOCEM) at Okpoto, Ishielu, Nigeria, has been approved by Ebonyi State Governor, David Umahi. Meanwhile, a committee that will be led by the Commissioner for Solid Materials, Eng Francis Orji, has been set up to implement the plan. The government will hold a 10 per cent stake in the venture. |
CCNN reports record net profit of NGN5.7bn in FY1811 April 2019, Published under Cement NewsCement Company of Northern Nigeria (CCNN) has released its FY18 results, reporting a net profit of NGN5.7bn (US$15.75m) , 77 per cent higher than in 2017. The earnings report is the first since the merger with Kalambaina Cement. Revenue reached NGN31.7bn, up 62 per cent YoY. EBITDA rose by 86 per cent to NGN7.9bn. CNN produced 0.76Mt of cement and sold over 0.74Mt. Sales in Nigeria rose by 49 per cent YoY to NGN28.9bn, while export figures rose from NGN0.2bn in 2017 to NGN2.9bn in 2018. T... |
BUA Group signs contract for new power plant25 March 2019, Published under Cement NewsNigeria's BUA Group has signed a contract with Finland-based Wartsila Oy for the construction of a 48MW power plant at its Sokoto Cement facility. The power project will supply line 3 and adds to the 100MW of captive power that the company already utilises. "We can't compromise on our quality. We are known to provide quality products and services to our customers and we are assured that Wartsila aligns with this vision of ours. They have an impeccable and intimidating track record and we a... |
Dangote Cement reports rise in group revenue for 201828 February 2019, Published under Cement NewsNigeria’s Dangote Cement announced a 11.9 per cent YoY rise in group revenue to NGN901.2bn (US$2.48bn) from NGN805.6bn for the full-year 2018 period. The results were driven by a 11.4 per cent increase in Nigerian cement sales to 14.178Mt and a 9.5 per cent higher revenue per tonne for pan-African operations. Group EBITDA advanced 12.1 per cent to NGN435.26bn, compared with NGN388.14 of 2017. Meanwhile, total cement sales were up 7.4 per cent to 23.535Mt. "This is a record financial per... |