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 Business / Dangote Refinery To Start Refining Petrol By November 30, 2023 – Devakumar Edwin by nlfpmod: 9:44am On Sep 19, 2023 |
The Dangote Refinery is set to start diesel and jet fuel refining operations by October 2023 and petrol refining by November 2023. https://nairametrics.com/2023/09/19/dangote-refinery-to-start-refining-petrol-by-november-30-2023-report/ 15 Likes 3 Shares
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| Properties / Breaking: BUA Cement Plc To Crash Cement Price From N5,500 To N3,500 Per Bag. by Gjrich(m): 10:30pm On Sep 16, 2023 |
BUA cement Plc To Crash cement price From N5,500 To N3,500 Per Bag. BUA cement Plc has announced plans to reduce the price of cement in Nigeria from the present N5,500 to between N3,000 to N3,500. This was made known by the Chairman of the company, Abdul Samad Rabiu, after a meeting with President Bola Tinubu at the State House, Abuja on Friday, September 15, 2023. Rabiu revealed the cement company is adding 2 new plants at the end of the year to be commissioned by President Bola Tinubu, bringing BUA cement’s total capacity to 17 million metric tons. Speaking on the visit, he said this is part of its own contribution to support the efforts of the Federal Government to bring down the prices of key commodities in the country, adding that this will enable the company to bring down the price of cement to about N3,500 per bag. ”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 came to intimate his excellency and also to explain to him the efforts we are making in trying to support again the efforts of the government in bringing down the price of cement. With these 6 million tons that we are commissioning by the end of the year and by the way his excellency has agreed to come and commission the plants sometime either in December or January next year. So I explained to him and ‘’So I explained to him and 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 may be N3,000 to N3,500 per bag. ‘’And we can only do this because we are producing this cement locally, 80% of the raw materials that we are using to produce cement in Nigeria is 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 price of these commodities are brought down incidentally.
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| Business / Re: BUA Moves To Crash Cement Price To N3,500 After Meeting Tinubu by Kenosky1: 10:16am On Sep 16, 2023 |
Bobloco: Dangote after hearing this news.
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| Politics / BUA Moves To Crash Cement Price To N3,500 After Meeting Tinubu by lexylaw09: 8:22am On Sep 16, 2023 |
Daily TrustSep 16, 2023 12:13 AM The Chairman of BUA Group, Abdul-Samad Rabiu, says the company is set to reduce the price of cement in Nigeria. He disclosed this on Friday… The Chairman of BUA Group, Abdul-Samad Rabiu, says the company is set to reduce the price of cement in Nigeria. He disclosed this on Friday while speaking ith State House correspondents after meeting with President Bola Tinubu. Rabiu said to support the efforts of the government to crash the price of the product, the company would add two new plants at the end of the year or early next year. According to him, the plants to be commissioned by Tinubu, would bring BUA cement’s total capacity to 17 million metric tons. This, he said will enable the company to reduce the price of cement to about 3500 naira per bag. He 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 tonnes each that we will be commissioned by the end of the year. “So I came to intimate His Excellency and also to explain to him the efforts we’re making in trying to support again the efforts of the government in bringing down the price of cement. “With this 6 million tonnes that are commissioning by the end of the year. And by the way, His Excellency has agreed to come and commission the plants, sometimes in December or early January next year. “So I explained to him and we want to support the efforts of the government in bringing down the price of cement. By the time these lines are commissioned, BUA cement will to be producing about 17 million tonnes per annum. And with that, we intend to bring down the price of cement from its current level of N5000 or N5500 per bag to maybe N3000 to N3500 per bag. “And we can only do that because we’re producing cement locally. 80% of the raw materials that we’re using to produce cement are in Nigeria. We want to support the government efforts in ensuring that the price of thess commodities are brought down. “Incidentally, I also saw the Honorable Minister David Umahi, when I was with the with His Excellency, Mr. President, and we agreed to meet so what we’re going to do is by the time we commission these two lines is to announce to Nigerians that the price of cement is going to come down.” Intrigued by stock market trading? Deriv Immigration to America 2023 Buzzuza Ex-Police Dog Barked at The Ground for Days, Firemen Couldn't Believe What Was Inside 5minstory.com How To Play the US Megamillion $1 Billion Jackpot from Your Mobile? 24lottos by TaboolaSponsored Links Unmute
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| Business / BUA Cement To Crash Cement Price From N5,500 To N3,500 Per Bag by Morbeta11(m): 6:10am On Sep 16, 2023 |
BUA cement to crash cement price from N5,500 to N3,500 per bag https://nairametrics.com/2023/09/15/bua-cement-to-bring-down-cement-price-from-n5500-to-m3500-per-bag/
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| Business / BUA Moves To Crash Cement Price To N3,500 After Meeting Tinubu by Bobloco: 5:57am On Sep 16, 2023 |
The Chairman of BUA Group, Abdul-Samad Rabiu, says the company is set to reduce the price of cement in Nigeria. https://dailytrust.com/bua-moves-to-crash-cement-price-to-n3500-after-meeting-tinubu/ 71 Likes 7 Shares
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| Nairaland / General / Affordable Drywall Services In Ogden, UT: Enhance Your Home's Appearance Today by tabavo: 5:42pm On Sep 11, 2023 |
If you're looking for affordable drywall services in Ogden, UT, then you've come to the right place. Our team of skilled professionals is dedicated to enhancing the appearance of your home through expert drywall installation, repair, and finishing. With our affordable rates and commitment to quality workmanship, we can help you achieve the beautiful, flawless walls and ceilings you've always wanted. Read on to learn more about how our services can transform your space and enhance your home's overall aesthetic appeal. What is a drywall contractor? If you're planning to build or renovate a home or commercial space, chances are you'll need the services of a drywall contractor. These professionals specialize in installing, repairing, and finishing drywall, which is the material used to create interior walls and ceilings. Drywall contractors work with a variety of materials, including gypsum board, cement board, and fiberglass board, and are skilled at creating smooth, seamless surfaces. In Ogden, UT, drywall contractors are in high demand due to the area's growing population and booming construction industry. These professionals play a crucial role in the building process, ensuring that walls and ceilings are structurally sound and visually appealing. Some of the services offered by drywall contractors in Ogden include hanging drywall sheets, taping and finishing seams, applying texture, and repairing damaged areas. When hiring a drywall contractor in Ogden, it's important to choose a reputable and experienced professional. Look for a contractor who is licensed and insured, and who has a track record of completing projects on time and within budget. You can also ask for references and check online reviews to get an idea of a contractor's reputation. By choosing the right drywall contractor, you can ensure that your project will be completed to your satisfaction, with beautiful, durable walls and ceilings that will stand the test of time. Benefits of hiring a drywall contractor Drywall is a vital component in most homes, and it's essential to hire a professional contractor for all your drywall needs. Hiring a drywall contractor in Ogden, UT, comes with several benefits. In this blog, They will discuss three significant advantages of hiring a professional drywall contractor for your next project. Firstly, drywall contractors have the necessary expertise and experience to complete a project efficiently and effectively. They can identify potential issues that may arise during the installation process and address them promptly, saving you time and money. A skilled drywall contractor will ensure that the installation process is done correctly, providing a smooth finish that looks great and lasts for years. Secondly, hiring a drywall contractor can save you a significant amount of time. They have the necessary tools, equipment, and manpower to complete the job quickly and efficiently. This will allow you to focus on other aspects of your project or even spend time with your family while the work is being done. Lastly, hiring a drywall contractor in Ogden, UT, ensures that your project meets local building codes and regulations. Contractors are familiar with all building codes and regulations, ensuring that your project is compliant. This means that your project will pass all inspections and be completed to the highest standards. Expertise in drywall installation, repair and finishingDrywall installation, repair, and finishing can be a challenging task that requires a certain level of expertise. If you're in Ogden, UT, and need help with any of these services, there are several experts available to help you. These professionals have years of experience working with drywall, and they use their expertise to deliver quality services. When it comes to drywall installation, experts in Ogden, UT, know the proper techniques to ensure a smooth and level finish. They can also advise you on the best materials to use for your particular project, including the thickness and type of drywall that will work best for your needs. With their knowledge and experience, they can save you time and money by helping you avoid costly mistakes. In addition to installation, drywall experts in Ogden, UT, can also help with repairs and finishing. Whether you have a small hole or a large crack in your drywall, they can patch it up quickly and seamlessly. They also know how to apply the right amount of joint compound and sanding to achieve a perfect finish. With their skills, they can transform any damaged wall into a smooth and flawless surface. Qualities to look for in a reliable drywall contractor in Ogden, UT If you're planning to install or repair drywall in your home or commercial property in Ogden, UT, it's crucial to find a reliable contractor. Choosing the right contractor can make all the difference in the quality of work, timely completion, and overall satisfaction. Here are some qualities to look for when selecting a drywall contractor: First, look for a contractor with experience in drywall installation and repair. An experienced contractor will have the necessary skills and knowledge to handle any project, big or small. They can also offer recommendations on materials and techniques that will suit your project best. Second, look for a contractor who is licensed and insured. This is crucial because it ensures that the contractor is operating legally and is covered in case of any accidents or damages during the project. A reliable contractor will have all the necessary licenses and insurance policies to operate in your area. Lastly, consider the reputation of the contractor. Look for reviews and testimonials from previous clients to get an idea of the contractor's reliability, workmanship, and professionalism. You can also ask for references from the contractor and follow up with them to learn more about their experience with the contractor. How to find affordable drywall services in Ogden, UT Drywall services are an essential component of any construction or renovation project. However, finding affordable and reliable drywall services can be a challenge, especially in a city like Ogden, UT. Here are some tips to help you find affordable drywall services in Ogden, UT. Firstly, it is essential to do some research and gather information about different drywall contractors in Ogden, UT. You can check out their websites, read reviews, and ask for referrals from friends and family. This will help you get a sense of their expertise, experience, and pricing. Secondly, it is crucial to get multiple quotes from different drywall contractors in Ogden, UT, before making a final decision. This will give you a better understanding of the market rate and help you negotiate a fair price. You can also ask for discounts or special offers that they may have to reduce the overall cost of the project. By following these tips, you can find affordable and reliable drywall services in Ogden, UT, and ensure a successful construction or renovation project. DIY vs hiring a professional drywall contractor in Ogden, UT When it comes to drywall installation or repair, many homeowners in Ogden, UT face a common dilemma: should they tackle the project themselves or hire a professional drywall contractor? While the DIY approach may seem like a cost-effective solution, it comes with several potential drawbacks that could end up costing you more in the long run. One of the main advantages of hiring a professional drywall contractor in Ogden, UT is their expertise and experience in the field. They have the necessary skills and tools to complete the project efficiently and with precision, ensuring that the finished product is of high quality. Moreover, professional contractors are well-versed in building codes and safety regulations, which means that they can ensure that your drywall project is up to code and meets safety standards. On the other hand, a DIY approach can lead to costly mistakes, particularly if you lack experience and knowledge in drywall installation or repair. This can lead to safety hazards, poor quality results, and even damage to your property. Conclusion In conclusion, while it may be tempting to take on drywall installation or repair as a DIY project in Ogden, UT, it is often worth the investment to hire a professional drywall contractor. By doing so, you can benefit from their expertise and experience in the field, as well as ensure that your project meets building codes and safety regulations. To find affordable and reliable drywall services in Ogden, UT, be sure to research and compare contractors' rates and ask for discounts or special offers. By taking these steps, you can ensure a successful construction or renovation project with high-quality results. At Ogden Handyman Services, they pride themselves on their professional drywall services and commitment to meeting their clients' needs. Contact them today to learn more about their services and how they can assist you with your drywall project.
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| Nairaland / General / Building Dreams In Stone: How A Concrete Contractor Transforms Spaces by fanena: 4:40pm On Sep 11, 2023 |
If you’re planning to build or renovate your home, a concrete contractor could be the one to give you the space you’ve been dreaming of. Concrete contractors are professionals who specialize in creating structures made from concrete. They can handle everything from pouring foundations to building walls and floors and even decorative finishes like stamped concrete. In this blog post, we’ll look at what concrete contractors do, why they’re essential in construction, and how they can help transform your space. We’ll also discuss the process of hiring a reliable concrete contractor and what factors influence their pricing. So if you’re ready to build your dream home or remodel an existing space, keep reading! What is a concrete contractor? A concrete contractor is an expert who specializes in working with concrete for various commercial and residential projects. They are responsible for ensuring that safety and quality standards are met while providing their services to construction sites. One of the significant benefits of hiring a concrete contractor is their experience and knowledge, which enables them to offer guidance, recommendations, and best practices for your project. This saves you valuable time and effort and ensures that your project is completed within budget and to your satisfaction. Hiring a professional concrete contractor also means accessing all the necessary equipment and tools to complete the job efficiently and effectively. This not only ensures that the work is done correctly but also reduces the amount of time taken to finish the job. Concrete contractors are trained in handling equipment such as excavators, cement mixers, trowels, saws, and other specialized tools required for different types of projects. In addition to their technical skills, a good concrete contractor should also have excellent communication skills. They should be able to communicate clearly with clients about project timelines, budgets, and any potential issues or challenges that may arise during the project’s course. This open communication helps prevent misunderstandings from arising between both parties. Finally, hiring a professional concrete contractor can lead to long-term savings as they know how to plan for contingencies during construction projects. They can identify potential problems early in the process, which helps avoid costly repairs or renovations. The Role of a Concrete Contractor A concrete contractor plays a vital role in the construction and installation of various concrete structures. Their expertise ensures quality workmanship and adherence to industry standards. With extensive knowledge of different types of concrete and their applications, they can provide the right fit for any concrete project. Hiring a professional concrete contractor guarantees the safety and durability of construction projects. In the event of an accident, a dedicated concrete contractor can also work with insurance companies to resolve any issues. Understanding the Job of a Concrete Contractor Concrete contractors oversee all aspects of concrete construction, from planning to execution. They handle site preparation, formwork, pouring, and finishing. These professionals ensure proper curing and maintenance of concrete structures. They manage logistics for efficient project completion, troubleshooting any issues that arise. Their expertise in the concrete industry makes them the right fit for any substantial project. The Importance of a Concrete Contractor in Construction Concrete contractors are essential in the construction industry, providing vital services. Hiring a professional ensures successful project completion, as they possess the necessary skills and equipment for complex installations. Their expertise minimizes errors and ensures structural integrity. Working closely with architects and engineers, concrete contractors bring designs to life. Their role is crucial in transforming spaces through the use of concrete. Why You Need a Professional Concrete Contractor When it comes to your concrete project, hiring a professional concrete contractor is crucial. Their experience and knowledge ensure high-quality results and compliance with building codes and safety regulations. They can efficiently handle the job site with access to specialized equipment and tools. Working with a professional saves time and money by avoiding costly mistakes. Additionally, they provide warranties and guarantees for their workmanship, giving you peace of mind. Choose the right concrete contractor for your project by following these tips and ensuring a successful outcome. The Process of Hiring a Concrete Contractor Defining your project requirements and objectives is the first step in hiring a concrete contractor—research potential contractors through online searches and recommendations. Contact multiple contractors to request estimates. Evaluate each contractor based on experience, qualifications, and references. Consider factors like expertise, reputation, and cost before deciding. Ensure you find the right fit for your concrete project. How to Find a Reliable Concrete Contractor in Lufkin, TX If you’re in Lufkin, TX, and looking for a dependable concrete contractor, there are several steps you can take to find the right one. Start by asking for recommendations from friends, family members, or construction professionals in your area. You can also conduct an internet search to find a list of concrete contractors in your vicinity. Once you have a list of potential contractors, check their online reviews and ratings to assess their reputation and customer satisfaction. It is also essential to verify their license, insurance, and certifications to ensure that they comply with legal requirements. Lastly, it is crucial to request a list of references from the contractor and get in touch with past clients to get feedback about their experience with the contractor. This step will help you make an informed decision about which concrete contractor to hire. Understanding the Pricing of a Concrete Contractor When hiring a concrete contractor, various factors determine the cost. Project size, complexity, material costs, labor expenses, and equipment needs contribute to pricing. Market conditions and location can also lead to price variations among contractors. Obtaining multiple quotes allows for comparison and negotiation. It’s crucial to consider reputation and quality of work alongside the price. Factors that Influence the Cost of Hiring a Concrete Contractor When hiring a concrete contractor, the project’s cost depends on several factors. The type and complexity of the project are primary determinants of pricing. For instance, building a simple sidewalk would cost much less than constructing a complex foundation requiring specialized skills and equipment. The quantity and quality of materials also play a significant role in determining costs. High-quality materials such as cement, sand, and aggregate can increase the project’s overall cost. Similarly, additional costs may be incurred if access to the job site is challenging or restricted. Moreover, the timeline and deadline for completing the project can influence pricing. Rush jobs incur additional charges compared to standard projects with reasonable timelines. Suppose you want to add special finishes or decorative concrete services to your project. In that case, it will increase the total cost. Obtaining quotes from different contractors before hiring one for your project is essential. This will help you compare costs and decide based on your budget and requirements. Moreover, choosing a reputable contractor with extensive experience handling similar projects can save you money in the long run by avoiding costly mistakes or rework. The Impact of a Concrete Contractor on Space Transformation Transforming spaces is the specialty of a concrete contractor. Whether it’s an outdoor area or an indoor space, these professionals have the expertise to create functional and visually appealing features. From designing and installing patios, driveways, walkways, and retaining walls to providing polished concrete floors or decorative overlays, they can completely change the look and feel of a space. With their ability to create custom concrete elements, a concrete contractor can add unique character and style to any area. Working with them allows you to transform your space into something that meets your specific needs and preferences. How can a Concrete Contractor help transform your space? Concrete contractors are highly skilled professionals who play a vital role in transforming spaces. They can create stunning outdoor living areas, install long-lasting driveways and walkways, and revamp floors with polished finishes. Using decorative techniques such as adding unique patterns, colors, and textures to concrete surfaces, they can create visually appealing spaces that enhance the overall look of any property. In addition, their expertise also allows them to design and construct custom concrete elements that elevate the style of a space. Whether creating a statement fireplace or building a unique water feature, concrete contractors have the knowledge and abilities to bring your vision to life. With their attention to detail and commitment to quality workmanship, you can rest assured that your project is in good hands. Conclusion In the heart of Lufkin, Texas, Double K Construction is a testament to the remarkable artistry of concrete craftsmanship. With unwavering dedication and skill, they have transformed mere spaces into vibrant expressions of dreams brought to life in stone. Double K Construction has reshaped the landscape of possibilities through its expertise and commitment, showcasing the power of concrete to evoke emotion and create lasting impressions. Their work transcends the ordinary, from commercial projects to residential havens, turning visions into tangible masterpieces. Contact Double K Construction today, and embark on a journey to turn your dreams into enduring realities as they continue to shape the world of concrete construction one remarkable space at a time.
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| Properties / Re: My 3 Bedroom Bungalow Project - 2021 - 2022 (Lagos) by djseanjohn77: 3:25pm On Sep 05, 2023 |
The 2 plots was fenced and gate fixed. The major challenge was the inflation, how price of cement went from less than 2k to over 4k, rods from 1000 - 1500 to 3500 - 4500, roofing sheets went from 1800 - 3750 etc.
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| Properties / Re: CHRIS-MULTICRETE INTERIOR ( HOME IMPROVEMENT SERVICES) by christ007(m): 3:57am On Sep 03, 2023 |
christ007: Good morning my beautiful people
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| Business / Re: BUA Promises To Reduce Cement Price by balher(m): 5:38am On Sep 02, 2023 |
BUA and Dangote are wicked if a bag of 50kg sold at N3400 (380 INDIAN RUPEES) currently at India. Nigeria products should not exceed N2000/50kg. PLs tag this to Twitter makes in trends. FG to allow inport of cement if he really wants to crash cement price in nigeria
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| Business / BUA To Support FG In Ensuring A Favorable Cement Price by postbox: 3:53pm On Sep 01, 2023 |
BrandSpur Nigeria reports that Chairman of BUA cement PLC, Abdul Samad Rabiu has vowed to support the Tinubu-led Federal Government (FG) in ensuring a reduction in price per bag of local cement in Nigeria. As of the time of filing this report, a bag of cement currently sells between N5000 and N5,100. Speaking with journalists in Abuja at the 7th Annual General Meeting (AGM), Rabiu elaborated on plans by his firm to reduce the cost of cement per bag effective from December this year when two plants lined up would come up. BUA cement, he said will collaborate, and work with the government in achieving reduced cost of cement. Rabiu said, ” I appreciate where the government is coming from. I can understand the frustration from all the issues we are having in the country. The price of cement is under N5000 per bag in Nigeria; is not really very high if you look at the rate of the dollar. To import into Nigeria today will be almost N5,000 per bag. “The cost of cement, CIF to any of the ports in Nigeria will be in the region of around $100 today per tonne and that is something that can be ascertained. But then you have the protocols-; the transportation from the ports to wherever you are taking them to. It’s not that the government wants to import cement, it’s just that they are frustrated that the price of cement is high”. “What I am going to do? what I told my shareholders is that we will support the government because even though we know the price of cement is high, it cannot be cheaper if we import it. “But what we want to do is, because we have two lines that are coming on stream by the end of the year; Obu line3 and the Sokoto line7, which will give us a combined capacity of 6 million tons and then by the time we have those two lines, we will be having a combined volume of 17million tons. So, what we want to do, is to support the government. Sit down with the minister to see how we can bring down the price of cement once we have those two lines up and running by the end of the year”. “Am happy to support the government once these two lines are up and running. I can assure you that we’ll do everything to support the government and to support Nigerians. It is true that the price of cement is high maybe because of the devaluation issue that we are having in the country now, hence the reason why we decided that we are going to support and bring down the price of cement. “This is my promise from. I know my price expertise is about N4000 and N4, 300 per bag. The target is to reduce that substantially when we start regardless of what other costs are. “I will engage the minister and we are not doing that because we are worried that the government will allow imports because we know that imports will not be any cheaper. We are going to do that because we want to support the government and we want to support Nigeria and Nigerians. “The reason why we want to wait until when we have the two lines that are going to come on stream by the end of the year, is simply because we will have additional volumes so that if we reduce the price, even if others have not agreed to reduce the price, the market will compel them to come down because if you do not have enough volumes and you reduce the price the market may not take it. If you have the volume and you reduce your price, and with the huge volumes that we have the price must come down”. Rabiu said that with a strategy mapped by BUA cement, other cement firms would have no choice but to reduce the cost of cement. ” If others are not ready to support the government, to support the reduction of the price of cement they will be compelled because if they don’t reduce they will not be able to sell. That is why we are going to wait till the end of the year when these two lines are on stream. I will discuss with the minister and see how we can do that”, he assured. SOURCE:https://brandspurng.com/2023/09/01/bua-to-support-fg-in-ensuring-a-favorable-cement-price/
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| Business / Re: BUA Promises To Reduce Cement Price by Akaegwu(m): 3:47pm On Sep 01, 2023 |
I disagree with you on ibeto. The factory 🏭 I not functioning again. nairalanda1:
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| European Football (EPL, UEFA, La Liga) / Re: EPL Chatroom - All Discussions by GloriousGbola: 1:44pm On Sep 01, 2023 |
izzou: i was trying to remember the cost of lafarge cement it is ironic that lafarge is in ewekoro - maybe two hours from lagos and therefore with lower shipping costs - but we still prefer to ship dangote cement all the way from obajana
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| Business / BUA Promises To Reduce Cement Price by nlfpmod: 1:44pm On Sep 01, 2023 |
As the cost of building materials increase, the chairman of BUA cement, Abdul-Samad Rabiu, has revealed that his company is in talks with the Federal Government to see ways of crashing the price of cement. https://www.google.com/amp/s/sunnewsonline.com/were-in-talks-with-fg-to-crash-cement-price-bua-chairman/%3famp 20 Likes
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| Business / Re: Dangote Cement Prices 17% Cheaper Than Global Average Data Shows by mrvitalis(m): 4:49am On Aug 30, 2023 |
MCentral:
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| Business / Re: Dangote Cement Prices 17% Cheaper Than Global Average Data Shows by Sirianese: 1:08am On Aug 30, 2023 |
MCentral: The same volatile (weak) naira you complain about makes Dangote to have cheaper operational and labour costs in Nigeria than in any other of those locations compared. As such you cannot use absolute market price to benchmark against their prices in all those other countries |
| Business / Dangote Cement Prices 17% Cheaper Than Global Average Data Shows by MCentral: 11:30pm On Aug 29, 2023 |
[img]https://i0.wp.com/moneycentral.com.ng/wp-content/uploads/2021/11/Dangote-cement-Ethiopia.png?w=800&ssl=1[/img] The sales price of Dangote cement is 17.22% cheaper on average when compared to prices set by global cement manufacturing giants from Cemex of Mexico to Holcim in Europe, research by MoneyCentral shows. The data suggests any opening up of borders to importation will not lead to lower prices but would decimate local manufacturing jobs. MoneyCentral looked at financial data from six of the world’s largest cement manufacturers from 5 continents: including Cemex of Mexico/USA, Dangote cement of Nigeria, Holcim Ltd based in Europe, Anhui Conch of China, Votorantim Cimentos of Brasil and UltraTech cement Limited India. It showed an average sales price during 2022 for cement of $90.61 per metric ton for the group. This compares with Dangote cement which sold its cement 17.22% cheaper at an average of $75 per metric ton (see chart). However when compared to global cement manufacturing peers, Dangote cement is at a disadvantage in nearly all metrics that is vital to profitable cement manufacturing, including finance costs, inflation, cement volumes and sales price. The only major advantage MoneyCentral saw for Dangote cement was lower energy costs and efficiency of cement plants due to its investment in newer and more energy efficient plants across Africa. Some of the global peers such as Holcim have domestic subsidiaries in Dangote Cements operating locations, meaning the subsidiaries can tap the expertise, cheaper source of capital, of their global parent company, all while being in direct competition with Dangote cement, a luxury Dangote cement does not have. Our thesis is simple: opening the floodgates of cement importation will not lower Nigeria cement prices as the major global cement manufacturers currently sell their products at a price point higher than Dangote cement. It is however, more likely that given additional costs of shipping, port handling, demurrage, naira devaluation and haulage from ports on the coast to the hinterlands, prices will rise steeply just as we currently see with petrol, another fully imported commodity. However there would be lost jobs, lower taxes for the Federal Government (FG), negative impact on the domestic stock market, less innovation and lost manufacturing activity in the country if unbridled importation were to occur. [img]https://i0.wp.com/moneycentral.com.ng/wp-content/uploads/2023/08/Dangote-cement-global-price.png?resize=696%2C132&ssl=1[/img] Source: MoneyCentral Research, Company Financials Cemex (Mexico, USA) Cemex average sales price for cement during 2022 was $114.30 per metric ton. For the year ended December 31, 2022, Cemex had net sales of $15.6 billion, which were higher than those for the year ended December 31, 2021, mainly driven by price increases across its products and services in all of the regions where it operated from. During 2022, Cemex pricing and cost mitigation efforts were able to offset much of the impact of inflation. “As of December 31, 2022, 77% of our total debt plus other financial obligations was Dollar denominated, 13% was Euro-denominated, 2% was Pound Sterling-denominated, 5% was Mexican Peso denominated, 2% was Philippine Peso-denominated and 1% was denominated in other currencies,” Cemex said in its financials. Chief Financial Officer Maher Al-Haffar said the company would keep pushing forward with price increases in 2023. “More than 80% of our volume is being repriced in the early part of the year and we think there is very good traction,” Al-Haffar said in a call with analysts earlier in the year. Takeaway: Cemex raised prices in 2022, to mitigate impact of inflation and will continue to raise prices this year. Dangote cement also can’t afford cheaper USD financing like Cemex due to extreme volatility of Naira vs dollar, such mismatch is risky because it will need to service dollar debt with revenues generated in Naira which becomes much more expensive in the event of a devaluation. Cemex sold 63.4 million metric tons of cement in 2022. Dangote cement (Nigeria, Africa) Dangote cement’s average sales price for cement during 2022 was $75.5 per metric ton. In 2022, Ethiopia one of Dangote Cements geographic locations of operations showed characteristics which indicates the existence of hyperinflation. Dangote Industries (Ethiopia) Plc is one of the subsidiaries of Dangote cement Plc and accounts for ₦103.3 billion (6%), ₦33.3 billion (6%) and ₦270.6 billion (10%) of the Group’s revenue, profit before tax and total assets respectively. Takeaway: Dangote cement deals with high inflation not just in Nigeria but in rest of Africa The only variable it controls is efficiency as macro variables such as inflation, interest rates, energy costs, and even pricing (due to competition) is largely outside its control. Cost of sales as a percentage of revenue is lowest for Dangote cement due to massive investment in brand new plants across Africa (see chart). However, the firm has one of the lowest prices, combined with the highest inflation and finance costs among the peers. Average sales price during 2022 for Dangote cement was N58,282 per metric ton or $75.5 per metric ton, when using the most recent I&E rate of N772/$. Dangote cement sold 27.76 million metric tons of cement in 2022. Holcim (Switzerland, Europe) Holcim average sales price for cement during 2022 was $96.87 per metric ton. The harmonised index of consumer prices (HICP) rose to 9.2% in 2022 for the EU, compared to 2021’s annual value of 2.9%. The EU Innovation Fund granted Holcim two awards for carbon capture projects in Germany and Poland, for a total of EUR 328 million. Net sales reached a record CHF 29,189 million for the full year of 2022, up by 12.9 percent on.... [url]https://moneycentral.com.ng/markets/article/dangote-cement-prices-17-cheaper-than-global-average-data-shows/[/url] |
| Business / Our Prices In Nigeria Are Lower Than Neighboring Countries - Dangote Cement by Nobody: 7:30am On Aug 29, 2023 |
Dangote cement clarifies misinformation about price of product https://www.vanguardngr.com/2023/08/dangote-cement-clarifies-misinformation-about-price-of-product/ 8 Likes 5 Shares
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| Business / Angry! Nigerians Call Out Dangote For Selling His Cement N1500 In Benin Republic by nathyx(m): 10:31am On Aug 28, 2023 |
Nigerians have taken to social media to call out billionaire Aliko Dangote for selling his bag of cement for N5200 in his own country but selling at N1500 in Benin Republic. This is coming weeks after Billionaire Dangote Ignores Nigerians as he employed 11,000 Indians in his oil refinery. A Twitter user identified as @drpenking called out Dangote for selling his bag of cement for N5200 in Nigeria despite the fact that the raw material is sourced locally in Nigeria. According to the Twitter user, the billionaire needs to explain why he sells at a higher price in Nigeria but sells it at N1500 in seme, Benin Republic. More: https://citymirrornews.com/news/2023/27/netizens-call-out-dangote-for-selling-cement-n5200-in-nigeria-n1500-in-benin-republic/
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| Politics / Re: This Man Is The Major Problem We Have In This Country by Nadingo: 10:32pm On Aug 27, 2023 |
orohbiro:Lai Mohammed, is that you? I just made an enquiry for the price of a bag of cement in Benin Republic. Guess what? I was told 4,500cfa which is an equivalent of N5,720 🤣🤣🤣 Refusing to believe this I went further to enquire online. The cheapest was 4,200cfa equivalent to 5,339 naira🙄🙄🙄 What do you people gain from misinformation and falsehood biko? That was how someone bought 4 seed of tomatoes for 6k last time.🙄🙄🙄 Nigeria will succeed!! Copied. 4 Likes
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| Business / DANGOTE Cement Sells Higher In Nigeria Than In Benin Republic (READ DETAILS) by SojWORLDWIDE(m): 8:40pm On Aug 27, 2023 |
AFRICAN richest billionaire, Aliko Dangote is in the eyes of the storm in his home country in Nigeria over the wide disparity in the prices of Dangote cement. Nigerians have taken to social media to call out Aliko Dangote for selling his bag of cement for N5200 in his own country but selling at N3,699.15 in Benin Republic. A Twitter user identified as @drpenking called out Dangote for selling his bag of cement for N5200 in Nigeria despite the fact that the raw material is sourced locally in Nigeria. According to the Twitter user, the billionaire needs to explain why he sells at a higher price in Nigeria but sells lesser in Seme, Benin Republic. He tweeted; “Dangote cement is produced in Nigeria . The raw material is sourced locally in Nigeria at almost zero cost. Nothing is imported. Almost zero taxes yet the price of cement is 5,200 Naira in Nigeria and same is sold in Seme, at 3,699.15 Naira. Sit & Explain to me.” Reacting to this, Nigerians expressed their displeasure at the billionaire Aliko Dangote as they criticized him and calls him all sort of names like, very greedy man, Monopoly boy, among others. See reactions below; omoba_ofafrica: It’s high time Nigerians realize that people like Dangote are a very big problem to us than we can ever imagine.. Dangote is bleeding Nigerians and growing fat at our expense.. The investigation at CBN has shown how the former cbn governor has been selling billions of dollars to Dangote at a price way lower than the official rate, this is terrible.. It’s time Nigerian stand up to exploiters and BOYSCOTT ALL DANGOTE PRODUCTS. flexnelson: If you look well we are our own problem. georgina_chigozie_onuoha2: I have no respect for men like Dangote. They monopolize the economy and country because of their proximity to power. Sadly, ignorant people will celebrate them as billionaires.. forgetting that the field is rigged against ordinary Nigerians who should be equal competitors in the market. Zero respect for the so called “ Billionaires “ in Nigeria. Until we beginning to ask poignant questions like this person did, we will continue to celebrate greedy billionaires who are equally the architects of the pain Nigerians are experiencing. I love capitalism but vulture capitalism built on greed is the killer of innovation and growth. bigkelvin_joseph: Very greedy man 😮. samklef: Monopoly boy. endylight1: Nigeria is one of the toughest countries to live in. You won’t know until you have taste of other places . If the government want the masses to get relief they know what to do. Will they ? mikengr1: Dangote is the major person actually holding Nigeria to ransom. Just imagine! He benefits from the Nigeria system failure, the day this start working normally in Nigeria like a sane country just as it is in Europe, Dangote will go broke. endylight1: The unexposed part of the story is that The raw materials are gotten in Kogi State, the industry is in Kogi state , everything is produced in Kogi (Obajana to be precised ) . But cement is costlier in Kogi than in the Core North (Like Kano kaduna and other Northern States).😮. cashmere104: He’s one of our biggest problem…Richest man in Africa kor, philanthropist ni. see the post below; Dangote cement is produced in Nigeria . The raw material is sourced locally in Nigeria at almost zero cost. Nothing is imported. Almost zero taxes yet the price of cement is 5,200 Naira in Nigeria and same is sold in Seme, Benin Republic at 1,500 Naira. Sit & Explain to me. — Dr Penking™🇳🇬🇦🇺 (@drpenking) August 24, 2023 CLICK TO READ MORE DETAILS: https://www.sojworldnews.com/dangote-cement-sells-higher-in-nigeria-than-in-benin-republic-read-details/ https://www.sojworldnews.com/dangote-cement-sells-higher-in-nigeria-than-in-benin-republic-read-details/ https://www.sojworldnews.com/i-disguised-as-beggar-to-teach-christians-kindness-catholic-priest/
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| Business / Nigerians Lash Out At Dangote Over Exorbitant Cement Price by bamideleafolabi: 11:35am On Aug 26, 2023 |
Deborah Dan-Awoh Aliko Dangote, Africa’s richest man, is facing mounting criticism from Nigerians questioning the fairness of his business empire. With a total of 15,200 tweets at the time of this report, Dangote Group’s leader has come under public scrutiny for the reported disparities in the prices of his cement products across Africa. According to X (formerly Twitter) discussions, there are claims that the billionaire offers cement to other African nations at a more reasonable cost. A user on the X platform, Nefertiti, pointed out that despite Dangote cement’s production in Nigeria, it fails to offer the product at an affordable rate, prompting contractors to resort to importing it. “Dangote cement is more expensive than imported cement, & you have all the raw materials in Nigeria. Contractors prefer imported cement, but cement import is banned in Nigeria. You must use Dangote by force. This is for those waiting to buy cheap petrol from the Dangote Refinery.” Dangote cement is more expensive than imported cement, & you have all the raw materials in Nigeria. Contractors prefer imported cement, but cement import is banned in Nigeria. You must use Dangote by force. This is for those waiting to buy cheap petrol from the Dangote Refinery. — NEFERTITI (@firstladyship) August 25, 2023 News continues after this ad Another user, Abdullahayofel, emphasized that the cement company enjoys access to raw materials at minimal costs, giving it a competitive edge. “Dangote cement is produced in Nigeria, The raw material is sourced locally in Nigeria at almost zero cost. Nothing is imported. Almost zero taxes yet the price of cement is 5,200 Naira in Nigeria and the same is sold in the Benin Republic at 3,699.15 Naira. Dangote cement is produced in Nigeria, The raw material is sourced locally in Nigeria at almost zero cost. Nothing is imported. Almost zero taxes yet the price of cement is 5,200 Naira in Nigeria and same is sold in Benin Republic at 3,699.15 Naira. — A. Ayofe (@abdullahayofel) August 25, 2023 Kelvin Odanz added his voice, supporting the notion that contractors prefer imports due to the high local prices of the billionaire’s cement company. “Apparently cement imported from abroad is cheaper than the one our sugar daddy and his clique produces in Nigeria. Contractors prefer importing it This is for those of you who think our sugar daddy’s refinery will help bring down the cost of fuel when finally completed. LOL for you” Apparently cement imported from abroad is cheaper than the one our sugar daddy and his clique produces in Nigeria. Contractors prefer importing it This is for those of you who think our sugar daddy’s refinery will help bring down cost of fuel when finally completed. LOL for you — Kelvin Odanz (@MrOdanz) August 25, 2023 Captain Tango stated that Dangote relies on government support to drive the success of his business. “Dangote is not the smartest politician, what he enjoys is government patronage thereby granting him crazy tax breaks and monopoly over the market. If INNOSON Motors or other businessmen have the same privileges he enjoys it will be good for all or throw the cement market open. Dangote is not the smartest politician, what he enjoys is the government patronage thereby granting him crazy tax breaks and monopoly over the market. If INNOSON motors or other business men have the same privileges he enjoys it will be good for all or throw throw the cement… — Captain Tango  ??✈️⚓️ (@Capolutiti) August 25, 2023A user, Priste added that the lack of a level playing field in the country has resulted in cement market monopolization “The issue is basically the lack of a level playing ground. Using the government to stifle other competitors is what has gotten us to this level of monopoly. This same dangote cement is cheaper in other West African countries.” The issue is basically the lack of a level playing ground. Using the government to stifle other competitors is what has gotten us to this level of monopoly. This same dangote cement is cheaper in other west African countries. — G E (@priste_) August 25, 2023
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| Politics / Re: Minister Of Works, Umahi, Compares The Price Of Imported & Local Cement by inoki247: 1:50pm On Aug 25, 2023 |
MrTed: This ur analysis are not right as at Last Year Dec Diamond cement sells for 80cedis and 80cedis isn't even 3dollars....
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| Politics / Re: Minister Of Works, Umahi, Compares The Price Of Imported & Local Cement by MrTed(m): 1:01pm On Aug 25, 2023 |
Comparative price analysis of a 50kg bag of Dangote cement in 10 African countries, using the exchange rate of 900 Naira to a dollar: Country / price (Naira) /price (Dollars) Nigeria - N4,200 / $4.67 South Africa - N3,500 / $3.89 Zimbabwe - N3,400 / $3.78 Tanzania - N3,300 / $3.67 Zambia - N3,200 / $3.56 Sierra Leone - N3,100 / $3.44 Ethiopia - N3,000 / $3.33 Senegal | N2,900 / $3.22 Cameroon | N2,800 / $3.11 Ghana - N2,700 / $3.00 Congo - N2,500 / $2.78 As you can see, the price of Dangote cement in Nigeria is the highest in Africa. It is followed by South Africa, Zimbabwe, Tanzania, Zambia, Sierra Leone, Ethiopia, Senegal, Cameroon, Ghana, and Congo. There are a number of factors that may contribute to the difference in prices across countries. These include: 1. The cost of production, which may vary depending on the availability of raw materials and labor costs. 2. The level of import duties and taxes, which may be higher in some countries than others. 3. The strength of the local currency, which may make imports more expensive in some countries. 4. The level of competition in the local market, which may keep prices down in some countries. 5. The activities of cement cartels, which have artificially inflated the price of cement 6. The increasing cost of raw materials, such as limestone and coal. 7. The high cost of transportation and logistics 8. The government's policies, such as import duties and taxes, which have made it more expensive to import cement into the country The high price of cement has made it difficult for many people in Nigeria to afford to build homes and other structures. This has had a negative impact on the construction industry and the economy as a whole. I believe that the price of cement in Nigeria is too costly. The government should take steps to address the factors that have contributed to the rise in prices, such as by reducing import duties and taxes on cement. The government should also crack down on cement cartels and ensure that they are not artificially inflating prices. In addition, the government should promote the use of alternative building materials, such as bricks and blocks,which are more affordable than cement. This will help to reduce the demand for cement and bring down prices Written by Comrade Ibrahim Aliyu Comradeibrahimaliyu@gmaildotcom Abuja
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| Politics / Minister Of Works, Umahi, Compares The Price Of Imported & Local Cement by thedio(m): 9:41am On Aug 25, 2023 |
David Umahi, minister of works, says he will dialogue with cement manufacturers over reducing the prices of their products. https://www.thecable.ng/umahi-ill-speak-with-manufacturers-on-reducing-cement-prices/amp 88 Likes 9 Shares
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