Cement News tagged under: Nigeria
Dangote to cut fossil fuel use by 25% by 202513 September 2023, Published under Cement NewsDangote 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 prices04 September 2023, Published under Cement NewsBUA 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 technology01 September 2023, Published under Cement NewsAs 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... |
Dangote defends price criticism30 August 2023, Published under Cement NewsDangote Cement has defended recent criticism of its cement prices saying they are in line with or lower than prices across the rest of the West African coast, reports The Punch. The company has come under fire for increasing the price of its cement in Nigeria, in particular, putting it significantly more expensive than in the likes of Benin - a claim refuted by the company, which says its prices in Nigeria have not risen and points out that it is important to distinguish between Dangote’s ... |
BUA invests in technology to lower costs11 August 2023, Published under Cement NewsBUA Cement has announced plans to invest in state-of-the-art technologies in a bid to reduce operating costs after reporting a 20 per cent increase in the cost of sales in the first half of 2023. According to the company, the increase was due to higher raw materials costs, energy costs, depreciation charges, and repair and maintenance costs. The Nigeria-based company has already invested in lower-pressure peroxide plants to reduce power consumption, and designed all its plants with tech... |
Dangote Cement appoints independent non-executive director08 August 2023, Published under Cement NewsDangote Cement Plc has appointed Alvaro Poncioni Mérian as independent non-executive director. Mr Mérian is founder and managing partner of EDNAM Capital, UK, and founder and executive chairman of Munegu Partners, Hong Kong. According to New Telegraph, Mr Mérian obtained a Master of Science Degree in Management and Finance from HEC Paris and Master of Arts Degree in Public Affairs and International Relations from Sciences-Po Paris. He was also previously global head of building material... |
Nigerian cement sector expands 16% YoY in 1H2307 August 2023, Published under Cement NewsThree of Nigeria’s leading cement producers have reported combined revenue of NGN1.37trn (US$1788m) in the opening six months of 2023, despite the challenging business environment. According to The Sun, Dangote Cement , BUA Cement and Lafarge Africa Plc ’s combined revenue marks a 16.1 per cent increase in the country’s cement industry sector compared to the same period last year. Combined profit after tax for the three companies also improved, up 2.5 per cent YoY to NGN277.7bn, of which... |
Dangote reports 82% advance in pan-African revenue31 July 2023, Published under Cement NewsDangote Cement has reported total sales volumes of 13.4Mt in the first half of 2023. Its pan-African sales, which includes all cement plant operations outside Nigeria, came in at 5.4Mt, up 11.6 per cent YoY, mainly due to robust demand in Ethiopia, Senegal, Zambia and Congo. Group revenue in the 1H23 stood at NGN950.8bn (US$1.23bn), up 17.7 per cent YoY, while pan-African revenue advanced 81.8 per cent to NGN336.4bn. Recurring profit after tax was up 37.4 per cent to NGN292.2bn, while ... |
BUA Cement posts 1H23 revenue of NGN221bn31 July 2023, Published under Cement NewsBUA Cement of Nigeria reported revenue of NGN221,067m (US$284.9m) in the 1H23, up 17.2 per cent from the NGN188,562m recorded in the 1H22. Operating profits totalled NGN86,940m in the 1H23, up 11.8 per cent from NGN77,737m in the 1H22. Profit before tax amounted to NGN76,425m, up from NGN77,378m in the 1H22. Profit after tax totalled NGN63,616m, a rise of 3.7 per cent from the NGN61,364m seen in the 1H22. |
Sudden rise in Nigerian cement prices17 July 2023, Published under Cement NewsCement prices in Nigeria have risen suddenly, reportedly driven by high inflation that advanced to 22.4 per cent in May. In some markets, a 50kg bag of cement has increased in price from NGN4600-4700 (US$5.92-6.04) to NGN5000 in the space of a few days. According to The Guardian, the prices of building materials have increased by more than 70 per cent between 2022 and July 2023. Retailers have blamed this on higher logistics costs, along with higher fuel costs due to the removal of the fu... |