Caption: Finn Arnoldsen and Chimaobi Madukwe, Non-Executive Directors of BUA Cement Plc; Yusuf Binji, Managing Director/Chief Executive; Abdul Samad Rabiu, Chairman, chairman of the company; Hauwa Garba-Satomi, Company Secretary; Kabiru Rabiu, Non-Executive Director; Chikezie Ajaero, Executive Director/Chief Finance Officer; and Ganiat A. Siyonbola, Independent Non-Executive Director, BUA Cement Plc at the 9th AGM of BUA Cement Plc held in Transcorp Hilton Hotels, Abuja on Monday, July 21, 2025.
BUA Cement Plc, on Monday in Abuja, held its Annual General Meeting, where it presented its financial report showing that revenue soared to ₦876.5bn at the end of 2024, increasing from ₦460bn in 2023 on the back of strong profitability, while profit before tax rose by 48.2% to ₦99.6bn, up from ₦67.2bn. Profit after tax increased by 6.3% to ₦73.9bn, up from ₦69.5bn in the previous year
In the course of the year, BUA Cement commissioned two additional lines in Edo and Sokoto States, raising its installed production capacity from 11 million tons per annum to 17MMTPA, in addition to breaking ground to commence the construction of a greenfield 3 MMTPA production line Ososo, Edo State.
BUA Cement, according to its statement, further invested in its logistics operations with the purchase of additional trucks, while it also digitalised its payment and product order processes with the introduction of an online payment solution, which reduced customer waiting times, thereby improving customer experience.
Fielding questions during the meeting, the Managing Director/ CEO, Yusuf Binji noted that “as we reflect on our achievements in 2024, BUA Cement stands at the threshold of unprecedented opportunity, strategically positioned to address Nigeria’s persistent infrastructure deficit while delivering exceptional value to our shareholders.
“Our journey forward is anchored on four interconnected priorities that will define our success: optimise our production capacity, continue prudent debt management, expand our market presence in underserved regions, and embrace digital transformation across our operations,” he added.
BUA Cement, he continued, remains anchored to the RICE values – Respect, Integrity, Commitment and Excellence. These principles, mirrored in every bag of cement we produce, ensure that trust is not just a promise but a measurable outcome.”
Also addressing shareholders, the Chairman, Abdul Samad Rabiu, explained “with a proposed dividend of ₦2.05 per share, representing a 94% payout ratio, we continue to demonstrate our strong commitment to shareholder returns, consistently distributing over 90% of our profits. This reflects both our confidence in the business and our sustained financial performance.”
He also commended the shareholders for their unwavering confidence, the employees’ dedication and hard work, and to its partners and customers for their continued trust and loyalty, while acknowledging that their support fuels the company’s ambition, inspiring it “to continually strive for excellence”.
