Cement Industry Rated Fastest Growing Industry

By Ikenga Chronicles August 31, 2017

Cement Industry Rated Fastest Growing Industry

Nigeria’s cement industry has been tipped to be the fastest growing industry in the nation’s economy after it rose by 1400% in a decade past, analysis has shown.

According to the statistics available, the cement industry would hit 45 million tonnes per annum by 2018 to make a 1400% rise from the 3.0 million a decade ago

Officials of the BUA Group gave this stat when it disclosed that it would meet the target of completing the Okpella plant in the first quarter of 2018.

The group noted that the actual construction works had started earlier this year reaching about 70 per cent completion level as at last week.

A similar project in Sokoto adds up to a total of 12 million tonnes capacity being brought into the nation’s cement industry by BUA Group.

Chairman of BUA Group, Alhaji Abdulsamad Rabiu, said the feat delivered by the sector industrialists has not only made Nigeria self-sufficient in cement production but also a net exporter of the commodity.

His words: “The cement sub-sector today represents over 90 per cent of the Nigerian mining sector and employs some 30,000 people directly and over two million people indirectly. It also saves the Nigerian economy some $2 billion in foreign exchange.”

Rabiu added that the event essentially was “the commissioning of one of the best cement plants anywhere in the world. It is engineered to be the most environmentally friendly cement plant in Africa with the most advanced duct emission systems. Our technology has the latest filtration with a capacity of less than 10 milligram per normal meter use. We use natural gas, which is a very clean energy for both our kiln as well as the power plant in addition to having a very green environment.”

Recall that BUA entered into the Nigerian Cement industry in 2008 with the acquisition of BUA Cement-1, a two-million tonner floating cement terminal that was able to process bulk cement into bags on a vessel.

BUA has now acquired a controlling stake in the publicly listed Cement Company of Northern Nigeria Plc (CCNN), as well as in Edo Cement Company Limited in the same year. The company went on to invest in the construction of a greenfield 3.0 million tonnes plant in Okpella (Obu), Edo State, which was also commissioned by Osinbajo.