Caption: Engr. Yusuf Binji, Managing Director/CEO, BUA Cement Plc; Abdul Samad Rabiu, Chairman of the company; and Hauwa Satomi, Company Secretary/Legal Adviser, at its 7th Annual General Meeting in Abuja,

Abdul Samad Rabiu, the Chairman of BUA Cement Plc, Nigeria’s second-largest cement company, on Thursday announced plans by the company to commission its Obu Line 3 factory and Sokoto Line 5 factory by Q1 2024 with a combined capacity of 6m metric tonnes per annum, raising the company’s total installed production capacity to 17m mtpa.
Addressing shareholders at the annual general in Abuja, he said that despite the challenging macroeconomic environment, BUA Cement is steadfast in its commitment to being the preferred provider of quality cement for dependable housing and infrastructure development in Nigeria.
The introduction of the new production lines in early 2024, he noted, positions BUA Cement to address the growing cement demand within Nigeria, and also expand export volumes to neighboring African countries.
BUA Cement, Abdul Samad Rabiu continued, “will continue its unwavering focus on innovative product delivery, efficient logistics, and tailored sales solutions for our diverse customer base across Nigeria, and Africa. In addition, we are dedicated to improving the well-being of our host communities through sustainable development initiatives.”
Regarding the issue of high cost of the product in the country, Abdul Samad Rabiu highlighted that BUA Cement’s forthcoming introduction of the Obu Line 3 and Sokoto Line 5 in Q1 2024 aims to alleviate the surge in demand in Nigeria and contribute to making cement more accessible and affordable, in line with the direction of the Federal Government to boost infrastructure development.
“Our company remains resolute in its strategies, chiefly centered on market consolidation. We have a presence in every market throughout the nation. The completion of Lines 3 and 5 in Obu and Sokoto respectively, will empower us to offer better prices, and more significant quantities of cement to the domestic market, thus strengthening our market share across Nigeria, and Africa. I am confident in BUA Cement’s ability to play a role in reducing cement prices in Nigeria,” he affirmed.
Commenting on the score-card, he noted the substantial 40.3% growth in the full-year revenue growth to ₦361.9bn in 2022, from the previous N257.3bn, just as Profit after Tax (PAT) improved by 12.1% rise, climbing to ₦101bn in the year under review, compared to N90.1bn in FY2021.
Also speaking, Engr. Yusuf Binji, the company’s Managing Director, underscored its dedication to efficient energy utilization in the cement production process. He also revealed potential plans for introducing a new product in the upcoming year to align with customer needs and preferences. Engr. Binji stated,
“BUA Cement is attuned to customer demands and market trends. Whilst we continue to work on making our production process more energy efficient, we are also exploring the possibility of introducing a new product next year,” he hinted.