Cement News tagged under: Nigeria

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Sephaku Holdings' profit eroded by rising costs

14 November 2023, Published under Cement News

Sephaku Holdings (Sephold) reported revenue of ZAR626.6m (US$33.44m) in the six months ended 30 September 2023, marking a 19.7 per cent YoY improvement. However, net profit after tax over the same period declined from ZAR26.7m to ZAR19.7, while headline earnings per share fell from 11.26 cents to 7.54 cents, reports IOL.  According to the company, although activity in the construction industry improved, particularly in the civil construction and non-residential sectors, the rising cost...

Lafarge Africa reduces CO2 emissions through AF use

10 November 2023, Published under Cement News

Lafarge Africa has reduced is CO 2 emissions from 595kg CO 2 /t  in 2021 to 574kg CO 2 /t in 2022 through the use of alternative fuels and energy-efficient technologies. According to the company’s 2022 Sustainability Report, its global thermal substitution rate in 2022 stood at 13.5 per cent, compared to 9.4 per cent in 2021, reports This Day.  Prince Adebode Adefioye, chairman, Lafarge Africa, said, “I am delighted to present Lafarge Africa Plc’s latest Sustainability Report, highligh...

Inauguration of Sokoto plant expansion by January 2024

03 November 2023, Published under Cement News

BUA Cement has revealed its plan to inaugurate its Sokoto plant expansion by January 2024. Abdulsamad Rabiu, the Chairman of BUA Group , made this announcement during his visit to Governor Ahmad Aliyu in Sokoto this week. Mr Rabiu said that the company was diligently working to ensure the new plant, currently under construction in Sokoto state, Nigeria,  would be ready for the inauguration. He informed the governor that during his meeting with President Bola Tinubu in Abuja he ...

BUA Cement increases revenues by 28% in 9M23

31 October 2023, Published under Cement News

BUA Cement has released its 9M23 results and posted revenue of NGN335,863m up 27.9 per cent from NGN262,598m in 9M22. Operating profit increased from NGN99,245m in 9M22 to NGN119,683m in 9M23, up 20.6 per cent. Profit after tax for the 9M23 reached NGN76,065m up from NGN74014m in 9M22. Plant expansion at the Obu and Sokoto plants are ongoing with commissioning scheduled for the 1Q24 which will bring the company’s total cement capacity in Nigeria up to 17Mta.

Dangote posts 53% YoY rise in revenue in 3Q23

30 October 2023, Published under Cement News

Dangote Cement Plc has reported revenue of NGN563.77bn (US$703.77m) in the third quarter of 2023, up 52.7 per cent compared to the same period in the previous year. Gross profit over the same period advanced by 46.3 per cent to NGN304.11bn, while pretax profit surged 132.4 per cent to NGN165.03bn. Profit after tax leapt to NGN98.95bn, marking a 141.3 per cent YoY advance. Meanwhile, earnings per share were up by 138.3 per cent YoY to NGN5.38 in the 3Q23.  Even with a 33 per cent YoY ris...

Fears raised over cement price hike in Nigeria

26 September 2023, Published under Cement News

The Cement Producers Association of Nigeria has praised the Nigerian government’s commitment to introduce concrete roads but warned that supply issues could push cement prices to NGN9000/bag (US$11.54/bag). According to Punch, cement in Nigeria currently sells at around NGN5000/bag, but a lack of supply could force prices much higher. Instead, the association has urged the government to place more attention to road design to encourage the use of both cement and asphalt pavement. “While we c...

BUA to slash cement prices

18 September 2023, Published under Cement News

BUA Cement has announced plans to lower cement prices from NGN5000-5500/bag (US$6.39-7.02/bag) to NGN3000-3500/bag, according to local press reports. AbdulSamad Rabiu, chairman of the BUA Group, said the move is part of the company’s commitment to help reduce the financial burden on the Nigerian population. With two new lines of 3Mta each due for commissioning by the end of 2023, taking the group’s total cement capacity to 17Mta, the cement producer intends to reduce the price of cement...

Dangote to cut fossil fuel use by 25% by 2025

13 September 2023, Published under Cement News

Dangote Cement aims to reduce its dependence on fossil fuels by 25 per cent by 2025, according to Dr Eseosa Ighile, head of sustainability at the company’s Obajana plant. So far the company has put in place several strategies to cut greenhouse gas emissions as part of Dangote’s commitment to Sustainable Development Goals 12 and the adoption of alternative fuels (AFs), reports The Punch. “We are working towards installing AF feeding systems in all our operation lines by 2024,” said Dr ...

BUA Cement says new plants will drive down cement prices

04 September 2023, Published under Cement News

BUA Cement has said that it hopes the completion of its two new plants this year would result in the lowering of cement prices in Nigeria. The company plans to add 6Mta of cement production capacity by the end of 2023 with the opening of Line 3 at its Obu plant and Line 5 at its Sokoto plant, according to Punch. Contractors in the country have reportedly been complaining to the government over the high cost of cement, suggesting that imports would be cheaper. The Minister of Works i...

Lafarge Africa installs new bag filter technology

01 September 2023, Published under Cement News

As part of its ongoing commitment to reducing the environmental impact of its operations, Lafarge Africa Plc has installed new bag filter technology at its Ewekoro plant. “We continuously upgrade our operating models and strategy through extensive investments in research and innovation,” said Rachael Ezembakwe, head of Health, Safety and Environment, Lafarge Africa Plc. “In order to comply with global standards and contribute to building a safer planet, we successfully replaced ou...