Monday, 26 December 2016

BUA CEMENT INVESTS N100M IN STAKEHOLDERS’ REWARDS AS IT PLANS TO INCREASE MARKET SHARE WITH 10 MILLION TONNES

With a cement production target of 10 million metric tonnes by 2018, BUA Cement has unveiled plans to increase its market share and penetration through efficient service delivery and operational framework.

Besides, the company has invested about N100 million in cash rewards, cars and other prizes to stakeholders that supported its business in the 2016 financial year. Executive Chairman and Chief Executive Officer of BUA Group, Alhaji Abdulsamad Rabiu, while speaking at the company’s yearly distributors’  forum and awards, explained that through an expansion drive that will span across its production plants, the firm would be able to double its production capacity.

Defending the prevailing price of the commodity, Rabiu explained that the current price of the commodity is cheap when compared with other African countries, especially with the declining value of Naira, adding that cement production is a challenging business. He however noted that despite the harsh operating environment, the company would continue to meet the aspirations of its stakeholders.

In his own words: “We have embarked on an expansion drive and this will be completed in 2018. Cement business is a very challenging one, because it is a capital intensive business; but I want to assure you that our expansion project will be completed by the end of next year or at the beginning of 2018.”

Presenting the gifts to the distributors, Rabiu said, “This award is our little way of celebrating you as you have been with us constantly throughout the year. Your loyalty to the brand has helped us to grow and we will continue to celebrate customers who have been there in this period of economic crisis.” (Guardian)