BUA cement has grown from 2% to 30% market share in 8 years
BUA Cement, Nigeria’s second largest cement manufacturer has said it has grown its market share from two percent to 30 percent in the last eight years. Managing director/ Chief Executive Officer of BUA Cement, Yusuf Haliru Binji made the disclosure at the 12th anniversary celebration of the business partnership between BUA Group and CBMI of […]
BUA Cement, Nigeria’s second largest cement manufacturer has said it has grown its market share from two percent to 30 percent in the last eight years.
Managing director/ Chief Executive Officer of BUA Cement, Yusuf Haliru Binji made the disclosure at the 12th anniversary celebration of the business partnership between BUA Group and CBMI of China in Abuja at the weekend.
He said: “We started with a humble beginning, entering the cement industry in 2008 with the acquisition of the Cement Company of Northern Nigeria and the Edo Cement Company.
“Initially, we approached European companies, but later commissioned the plant and started production of 3 million tons per annum. We continued investing in additional cement plants, commissioning a new line in Sokoto in 2018 and two more lines, one in Edo and one in Sokoto, in the last few months.
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“In summary, BUA Cement has grown from a 2% market share to over 30% within the last eight years. Our capacity has increased from half a million tons to over 17 million tons. I’m pleased to announce that we recently signed an agreement to build another cement line in Sokoto, which will take our installed capacity to 20 million tons.”
Recounting the growth over the years, the Chairman of BUA group, Abdulsamad Rabiu said: “We faced a challenge when we needed to erect a cement plant. European companies were unwilling to come to Nigeria, so we turned to China and found CBMI. They not only did the erection but also supplied equipment and did the civil construction.
“I want to express my gratitude to Mr. Dong and his team at CBMI for their support, friendship, and commitment to our partnership. Our relationship is built on mutual trust, collaboration, and efficiency. I also thank our staff, partners, and friends who have made this celebration possible.”
CMBI General Manager Geng Fengtao in his remarks said: “Over the past 12 years, CBMI and BUA have worked together to successfully complete many projects, including the most advanced cement plants in Nigeria, such as the three cement lines in Obu and the three cement lines in Edo.
“These projects have not only increased the cement production capacity in Nigeria but have also contributed significantly to Nigeria’s economic growth by creating jobs, supporting local industries, and promoting the development of local communities.”