Minister of information culture and tourism, Lai Mohammed, has called on investors to take advantage of Nigeria’s conducive environment to invest in the country.
Mohammed made this call in Sokoto State during a media tour of BUA Cement plants in Sokoto.
The minister, who was being guided through the company’s four plants by Yusuf Binji, managing director/CEO, BUA, said tax incentives are critical to investing in the country.
He was pleased that BUA Cement Sokoto alone has provided 10,000 direct and indirect jobs to Nigerians.
BUA Cement, Nigeria’s 4th largest company listed on the Stock Exchange has achieved a record 300 percent increase in production capacity in seven years, attributable to government policies according to Lai Mohammed, minister of information and culture.
Data provided by the company showed its capacity at 11 million tonnes per annum in 2022, representing a 214.28 percent increase compared to 3.5 million tonnes per annum in 2015.
Other reasons he gave for the record increase was that BUA was granted pioneer status, the ban on the importation of cement, the government’s divestment from the cement industry and of course backward integration policy.
Mohammed, who was on a media visit to BUA Cement, Sokoto plant on Thursday said the Sokoto plant was operating at over 90 percent of installed capacity and that because of its location, which is just 100 kilometres to Niger Republic, the plant exports to Niger and Burkina Faso, earning Nigeria much-needed forex.
Read also: Africa faced with dangerous humanitarian crises- Buhari
“Please note that only excess is exported, especially during the rainy season,” he said.
Other facts, he said, include that the company produces all year round, loading between 250 and 270 trailers per day. The plant has 700 trucks for cement distribution.
“The 3 million tonnes per annum line four of the BUA Cement facility that we have just visited was commissioned by president.
Muhammadu Buhari in January this year, took the combined installed capacity of the factory’s Lines two, three and four to 5 million tonnes per annum.
This is one of the most modern cement plants anywhere, he admitted, adding that it has gas analysers used in regulating carbon emissions released into the atmosphere; air purifying mechanisms set up to enhance the quality of air released from the cement manufacturing process.
The plant has filters capable of capturing 99.9 percent of dust to make the environment healthy and conducive for workers and customers alike. The plant is the first cement plant in Nigeria to use Liquefied Natural Gas to generate 50MW of power, thereby replacing coal in its kiln, the minister said.
“This has made the plant environmentally friendly to also curb climate change. I am sure when the AKK gas pipeline project is completed, it will drastically reduce the time and cost of transporting gas, which is currently being trucked from Port Harcourt to the plant. At least 20 trucks of LNG are brought here daily from Port Harcourt. Imagine the costs and the logistic challenges involved in this, he said.
In his presentation, Yusuf Binji, managing director/CEO, BUA said the Sokoto Cement plant comprising four lines has created 10,000 direct and indirect jobs.
He noted that the 17 million tonnes targeted capacity project has been self-funded without any funds accessed from the Central Bank’s intervention facilities.
