Yusuf Binji, the managing director/chief executive of BUA Cement, has announced that the company has inked a deal to extend its Sokoto manufacturing line, bringing its installed capacity to 20 million tons annually.
Binji said in the last eight years, the company’s market share has increased from 2% to over 30%.
Speaking over the weekend in Abuja during the 12th anniversary of the commercial relationship between BUA Group and CBMI Construction Company Limited, Binji stated that the company’s goal was to become the leading cement maker in the nation by “making cement affordable and available nationwide.”
He said the company has grown its capacity to over 17 million tons annually from its modest beginnings in the industry with roughly 500,000 tons.
He said:
The MD added:
ThisDay reported that AbdulSamad Rabiu, chairman of BUA Group, thanked CBMI for their support and dedication to partnership, emphasising that the foundation of the alliance was efficiency, trust, and cooperation between the two parties.
Speaking on development so far, he said,
TimesNow.com.ng earlier reported that the House of Representatives Joint Committee investigating the increase in cement prices in the country issued a directive to manufacturers, including Dangote Cement, BUA Cement, and Lafarge Africa.
Jonathan Gaza, the chairman of the committee, said that the manufacturers must provide a detailed breakdown of production costs to justify the recent increase in bag cement prices.
The lawmakers noted that although cement prices in the North and some other states have reduced to N8,000 after selling for as high as N13,000 to N15,000, depending on the brand, residents in some states still pay as much as N10,000 per bag.
Proofreading by James Ojo Adakole, journalist and copy editor at TimesNow.com.ng.
Source: TimesNow.com.ng
