…As President Tinubu is set to Commission New Cement Plants
*’We’ll crash price of cement to N3000′ -BUA Chairman
By Ime Silas
The President of Nigeria, His Excellency, Asiwaju Bola Ahmed Tinubu, GCFR is set to commission two (2) new Cement Lines that have the capacity to Produce 6 Million Tons of cement per day. The move is to help reduce the cost of cement in the country.
Chairman of BUA Cement Plc; Abdul Samad Rabiu, who disclosed this to Journalists after an audience with President Bola Tinubu at the State House, Abuja also revealed plans to crash cement price from N5,500 to between N3000 and N3,500.
Rabiu, according to media reports said the price crash is part of his company’s contribution to supporting the efforts of the Federal Government to stabilize the prices of essential commodities.
According to BUA Chairman, this would only follow the opening of two new plants of 3 million tons operating capacity each to be commissioned at the end of the year President Bola Tinubu.
Rabiu said “Let me thank His Excellency Mr. President for graciously receiving me today, I came to intimate His Excellency on the affairs of our cement business.
“We have two new lines of 3 million tons each that we will be commissioning by the end of the year.
“So I explained to him that we want to support the efforts of the government in bringing down the cost of cement. By the time these lines are commissioned, BUA Cement will be producing about 17 million tons per annum and with that, we intend to bring down the cost of cement from its current level of N5,000 or N5,500 per bag to maybe N3,000 to N3,500 per bag.”
Rabiu added that the company could only do this because it is producing cement locally.
“Eighty per cent of the raw materials that we are using to produce cement in Nigeria are mainly limestone and gypsum and of course, energy is part of it. Of course, we have gas in Nigeria.
“So we want to support the government, we want to support their efforts in ensuring that the prices of these commodities are brought down incidentally.’’
He further revealed that the two new plants to be inaugurated by the President later in 2023 would increase production capacity to 17 million metric tons.
… Nigerians attack Dangote
Meanwhile, Nigerians have berated Africa’s richest man and CEO of Dangote Group, Alhaji Aliko Dangote, accusing him of being the major brains behind high cost of cement and some other commodities in the country.
Enraged Nigerians had lambasted the Kano State-born industrialist while reacting to Mr. Dave Umahi’s remarks on high cost of cement in Nigeria last month. They suggested that the federal government should close down Dangote’s companies.
It would be recalled that the Minister for Works, Umahi, while responding to questions on the Channels Television had decried high cost of cement saying that it was cheaper to import cement than buying them in Nigeria.
He said “I’m going to be running figures with them (cement manufacturers) to check the cost of cement if we import it and the cost they are giving us here.
A lot of contractors have complained that it is cheaper to import, but we are not allowed to import cement because we have to help the cement industries, but they also have to be reasonable with us”.
In their separate comments using their social media handles, Nigerians had these to say:
AY Marine: “Dangote company should be scrap off Nigeria”
Dennis Udofia: “Dangote is killing Us here in Nigeria, if the importation of other cement product will help us why not go with it”
Ukwe Dennis: “Dangote should be banned from carrying out any business transaction in Nigeria”
Adinoyi Tiyani: “The federal government should bring down dangote product. most here in kogi State every worsth”
Odinaka Onwuemeka: “Is Dangote the God of Nigerians why why don’t open nkalagu cement factory”
Adah Ochoche: “Dangote no the help matter, and na Nigeria politician make him riched ooo”
Chris Kanu: “If a bag of Cement in outside country is N1500, why buying 5500 in Nigeria were it is manufactured ? DANGOTE IS NOT BIGGER THAN THE ARMS OF GOVT”
Tony Nsongurua: “Sir you have done this magic in Ebonyi state despite your little resources please repeat it here”
Rodny Mtagher: “Kudos to you minister”
Innocent Samuel “My honorable minister
Go on sir! Provided it will favor the masses”
Brown Apaa: “You are making sense implement it sir”
Cletus Dan: “Can you imagine this strange revelation?”
Sampson Nljede: “Ok, our eyes has open now ba?”
Kenneth Ngadi: “We are all suffering it both of us is suffering”
Adekunle Badmus: “Wickedness man”
Adesegun Adebambo: “What actions are you going to take to correct the abnormal situation? What we produce locally should be offered to us at affordable price”
Ekman Samuel: “Let start it now ,”
Owakwe Dan: “We lyk ur move”
Abdullahi Umar: “No alternative in both the manufacturing and production marketing sectors that will stimulate production of economy,in other word no monopoly of such products in the country’s market that is allowing competitors to produce the products in a more cheaper way to forego for an alternative measures. Therefore the only source and the determining pricing of the Said commodity would be determined by one producer.”
Rakiya Yerima: “Yes sir you are saying nothing but the truth because if it one person or two people that is producing it in Nigeria he sells it at any amount he likes but if there is compotetion in market price.”
Kareem Stephen: “Monopolistic market of dangote has further empoverished Nigerians at the of expenses let’s patronize our local production to the detriment of the masses and which further pave way for imperialist to accumulate ambiguous weath”.
Ayilola Richard: “With the situation of Nigeria now,we don’t need any hardship again,lf it is to be import cement that will be easy for us, let do so, and stop buying dangote cement”
Joseph Igbeka: “Please my dear not only cement also Rice,.”
Godswill Umoakwang: “Dangote is worsening the whole situation in Nigeria, please let’s avoid his products.”
Abdullahi Muhammed: “That is the right thing for the minister that has the nation at heart,our leaders should have sympathy for us,Nigerians are obedient people that respect their leaders with all the odds of life.”