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BUA Cement Holds AGM, Declares N72.3bn Profits After Tax, Pays N70bn Dividends

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Cross Section of Board Members at the BUA Cement 2020 Annual General Meeting.

…as BUA Chairman, Abdul Samad Rabiu, canvasses for new entrants, more investments, additional capacity in the Cement industry

By Olushola Okunlade

BUA Cement Plc, one of Africa’s largest Cement companies, today held its Annual General Meeting for the period ended December 31, 2020 whilst paying dividends of N70billion at N2.067k per ordinary share in a move that shareholders applauded.

This is coming on the heels of a profitable year for the Cement producer with a turnover of N204bn and declared Profits After Tax of N72.3billion in the year under review.

Speaking at the AGM, Abdul Samad Rabiu, Chairman of BUA Cement, whilst addressing shareholders and the press, praised the efforts of the Yusuf Binji led management, staff, and customers of the company for ensuring that BUA Cement remained the cement of choice for quality in Nigeria.

In his comments on the increased demand for cement which had led to higher retail prices despite significantly lower ex-factory prices, Rabiu canvassed more investments in the cement industry saying that current national production levels across were not enough to meet the ever-increasing national demand for cement which was increasing at a rate over 3million metric tonnes per annum.

Right-Left: Yusuf Binji, MD, BUA Cement; Abdul Samad Rabiu, Chairman, BUA Cement and Ahmed Aliyu, Company Secretary, BUA Cement during the BUA Cement Annual General Meeting held in Abuja 08 July 2021.

He therefore canvassed new investments in the cement sector and encouraged other investors to develop new cement plants. It should be noted that BUA Cement is constructing a 3million metric tonnes which is expected to come on Stream in sokoto by the end of 2021 with new plants already in the works.

In his comments, Yusuf Binji, Managing Director of BUA Cement Plc, said BUA Cement is committed to remaining a value–driven, oriented company that prioritizes excellence and product quality. He also added that the company was well-poised to sustain current profitability despitethe very competitive landscape.

Yusuf Binji, stated that “Our value proposition, in terms of product and service support offerings has positioned BUA Cement as a market leader. In addition, we continue to prioritize innovation and continuous improvement, thereby ensuring the continued “fit” ofour products to ever-changing customer demands and needs. We are also investing in the latest plant designs which not only drive efficiency but translate into valueaddition to our customer through the cost savings derived.

BUA Cement Plc is Nigeria’s second largest cement company and the largest producer in its North-West, South-South, and South-East regions; BUA Cement operates strategically from Okpella, Edo State and Kalambaina, Sokoto State.

Currently, the second most capitalizedmanufacturing company on the Nigerian Stock Exchange (NSE), BUA Cement is committed to quality – a differentiating attribute, driven by its people, innovation, and technology; and positioned to solving Nigeria’s cement under capacity while driving economic growth and development.

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ASR Africa Supports Govt. Healthcare Development With N2.5BN Grant In Edo State

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ASR AFRICA SUPPORTS HEALTHCARE DEVELOPMENT IN EDO STATE WITH N2.5BN GRANT TO EDO STATE GOVERNMENT

ASR AFRICA SUPPORTS HEALTHCARE DEVELOPMENT IN EDO STATE WITH N2.5BN GRANT TO EDO STATE GOVERNMENT

Olushola Okunlade Writes

The Abdul Samad Rabiu Africa Initiative (ASR Africa) – the brainchild of Industrialist, philanthropist, and founder of BUA Group, Abdul Samad Rabiu, has provided a grant of 2.5billion Naira to the Edo State Government towards the equipping of the New Stella Obasanjo Hospital in Benin City currently being reconfigured, upgraded, and expanded to a 250-bed specialist hospital.

This donation makes Edo State the fourth state after Sokoto, Ogun, and Kwara states to receive a 2.5billion Naira grant from ASR Africa’s 10bn Naira Tertiary Healthcare Systems Support Grants Scheme for 2021 drawn from the Annual ASR Africa $100million Fund for Social Development and Renewal.

Presenting the grants award letter to Governor Godwin Obaseki in Edo State, Ubon Udoh, Managing Director, ASR Africa Initiative said the 2.5billion Naira Healthcare grant to Edo State, was in fulfillment of the pledge made by the founder of ASR Africa, Alh. Abdul Samad Rabiu, in June 2021 when he specifically set aside 10billion Naira for tertiary healthcare interventions in 4 states in Nigeria.

He further added that the 2.5billion grant, which will be put towards equipping the new Stella Obasanjo Hospital, will go a long way in raising the standard of care accessible in the region. He also commended Governor Godwin Obaseki, for his commitment to healthcare development at all levels within the State.

“We are here to present to you a letter of award for N2.5 billion grant for tertiary healthcare support system scheme to support the Stella Obasanjo Hospital.”

ASR AFRICA SUPPORTS HEALTHCARE DEVELOPMENT IN EDO STATE WITH N2.5BN GRANT TO EDO STATE GOVERNMENT

“We are going to start by putting an initial deposit of N1.25billion in a joint account between ASR Africa and Edo State Government; I want to congratulate you and your team. We want to thank you for the commitment you’ve shown towards bettering the lives of your people and the quality of leadership you’ve shown and which we have seen. I want to assure you that this is the beginning of a partnership between ASR and the Edo State Government,” he said.

Governor Obaseki, whilst thanking the ASR Africa Initiative for the grant, stated that his government decided to improve healthcare delivery in the state by renovating, improving, and upgrading the Stella Obasanjo Hospital to a 250-bed hospital. He also added that new buildings and services are being added to complement and support the existing complex.

According to Governor Obaseki, “We are very concerned about healthcare in Nigeria with the post-COVID-19 economy. We are determined to make Edo a healthcare hub in Nigeria. The healthcare system is really about the people. Infrastructure is important. If you don’t have the people that are properly trained, then the equipment will just be fancy for tourism. Within the Edo axis, we can muster up to five thousand doctors in different specialisations.

“If we have access to people who can provide quality healthcare and have world-class institutions or facilities to provide that training, then we should do it. Having the right governance means an arrangement where people don’t need to travel to get the kind of care they need.

“We are very keen and are anxious to get this started. For us as a state, we just try and execute. Hopefully, next week, we will establish a joint account and the procurement process has to be accelerated; within the next four to six weeks, let the orders be placed.

“I want to thank and appreciate you and the people of Edo will eternally be grateful. We can now proudly say that you have one of your largest investments in Africa in Edo and this is what they are contributing to the lives of our people,” he added.

The brainchild of African Industrialist, Philanthropist, and Chairman of BUA Group, Abdul Samad Rabiu, the Abdul Samad Rabiu Africa Initiative (ASR Africa) was established in 2021 to provide sustainable, impact-based homegrown solutions to developmental issues affecting Health, Education, and Social Development within Africa.

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Kenneth Amaeshi, Chris Ogbechie, Other Professionals To Speak At ASPN’ Seminar On Implementation Of SDG8

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…Tagged; Implementing SDG 8 in Nigeria: What Role Should the Sustainability Profession Play?

…Theme; Implementing SDG 8 in Nigeria: What Role Should the Sustainability Profession Play?

Olushola Okunlade Writes

The Association of Sustainability Professionals of Nigeria (ASPN) will on Monday 29 November 2021, at 10 am host its flagship webinar series with the theme “Implementing SDG 8: What Role Should the Sustainability Profession Play?”, which aims to tackle the issues and challenges faced by the sustainability profession and its professionals in the implementation of the SDGs within the context of SDG 8 in Nigeria. 

Speakers at the event include Ismail Omamegbe, Director, Advocacy & Stakeholder Relations Directorate, ASPN; Professor Chris Ogbechie, Dean, Lagos Business School; and Professor Kenneth Amaeshi, Chair, Business, and Sustainable Development, University of Edinburgh. Others are Rukaiya el-Rufai, Partner, Sustainability and Climate Change, PwC West Africa; Amarakoon Bandara, Ph.D., Senior Economic Adviser, UNDP; Soromidayo George, Director, Corporate Affairs and Sustainable Business, Unilever, West Africa; and Dr. Ndidi Nnoli-Edozien, Co-Chair, Private Sector Advisory Group on SDGs, Nigeria.

…Tagged; Implementing SDG 8 in Nigeria: What Role Should the Sustainability Profession Play?

Participants at the webinar will, among other things, get a clearer understanding of the challenges associated with Nigeria’s SDGs implementation journey as well as the fundamental linkage between SDG8 and other SDGs that are required to be taken into consideration in developing effective policies around SDG8; understand the trend (evolution and current state) of the sustainability profession in Nigeria and the contribution of the profession to the sustainability agenda, and get a comprehensive understanding of the skills and competencies required as a sustainability professional and the role of sustainability professionals in enhancing SDG8.

The Association of Sustainability Professionals of Nigeria (ASPN) is a non-profit organisation established in August 2019 to redefine and improve the practice and profession of Sustainability and Corporate Social Responsibility (CSR) in Nigeria.

To register and participate, please click https://bit.ly/aspnwebinar or visit our website https://aspn.org.ng/ for additional information.

Association of Sustainability Professionals of Nigeria (ASPN).
Association of Sustainability Professionals of Nigeria (ASPN).

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Sustainability Professionals Set To Host Seminar On Implementing SDG8 In Nigeria

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Association of Sustainability Professionals of Nigeria (ASPN).

…Theme; Implementing SDG 8 in Nigeria: What Role Should the Sustainability Profession Play?

Olushola Okunlade Writes

The Association of Sustainability Professionals of Nigeria (ASPN) is set to host a virtual seminar on “Implementing SDG 8 in Nigeria: What Role Should the Sustainability Profession Play?” to understand the role of sustainability in advancing the development of effective policies around SDG 8.

The Association of Sustainability Professionals of Nigeria (ASPN), a body of sustainability practitioners founded to develop the capacity of members and support Nigerian businesses towards actualising sustainable business growth while driving Nigeria’s sustainable development.

The virtual seminar will hold on Monday, November 29, 2021, from 10:00, am -12:00 noon. Participation at the seminar is free and will be drawn from the public, private, and development sectors.

To participate in the webinar, register via the link https://zoom.us/meeting/register/tJAsfu6qpjgrG9NhxW5i8eIqCmhOrFeaSgzM is required.

Unemployment and under-employment are major challenges faced by many developing countries such as Nigeria. As of the last quarter of 2020, the data from the Nigeria Bureau of Statistics put unemployment and youth unemployment rates at 33.3% and 53.4% respectively. Some direct outcomes of these two conditions are poor economic growth and poverty. The United Nations Sustainable Development Goal 8is the global ambition set to address inclusive and sustainable economic growth, full and productive employment, and decent work for all. The goal identifies that not only should jobs be created but they should be decent and capable of lifting people out of poverty.

Over the years, organisations have played a critical role in addressing issues related to SDG 8 such as employment, economic inclusion, non-discrimination, capacity building, availability of a skilled workforce, elimination of forced or compulsory labour. Organisations have created job opportunities, offered apprenticeship opportunities, mentored young entrepreneurs, initiated skills development programmes, put in place mechanisms to identify child and forced labour throughout its supply chains, and developed policy against unfair hiring and recruitment practices, amongst many interventions. There is no doubt that sustainability professionals have been at the centre of developing and implementing these interventions for organisations,

Therefore, sustainability professionals have been and will continue to be crucial in the achievement of the SDGs, and it is on this backdrop that the Association of Sustainability Professionals (ASPN) has decided to organise a seminar on Implementing SDG 8 in Nigeria: What Role Should the Sustainability Profession Play?

This high-level stakeholder engagement programme aims to unravel the issues and challenges faced by the sustainability profession and its professionals in the implementation of the SDGs within the context of SDG 8 in Nigeria. This is in direct alignment with the objective of ASPN to support and enhance the development of the sustainability profession and advance sustainable development in Nigeria. The workshop will also provide a compelling examination of the state of the profession in Nigeria. This will include, how the profession has contributed to the sustainability evolution both in the fiscal policy, regulatory and private sector spaces; the capabilities and competencies required by sustainability professionals for the growth of the profession; and the solutions that will transform the profession to have a broader sustainable socio-economic development role in the holistic implementation of the SDGs and within the context of SDG 8.

Sustainability Professionals To Host Seminar On Implementing SDG8 In Nigeria    https://rotamedianews.com/sustainability-professionals-to-host-seminar-on-implementing-sdg8-in-nigeria/
Association of Sustainability Professionals of Nigeria (ASPN).

Speakers at the seminar will comprise of leading voices in the sustainability space such as Ismail Omamegbe, Director, Advocacy & Stakeholder Relations Directorate, ASPN; Professor Chris Ogbechie, Dean, Lagos Business School; Professor Kenneth Amaechi, Chair, Business, and Sustainable Development, University of Edinburgh; Rukaiya el-Rufai, Partner, Sustainability and Climate Change, PwC West Africa; AmarakoonBandara, Ph.D., Senior Economic Adviser, UNDP; Soromidayo George, Director, Corporate Affairs and Sustainable Business, Unilever, West Africa; Dr. Ndidi Nnoli-Edozien, Co-Chair, Private Sector Advisory Group on SDGs, Nigeria; Eunice Sampson, Director, Learning and Development Directorate, ASPN.

Participants at the seminar stand to benefit from the opportunity to identify ways of strengthening and developing the sustainability profession in Nigeria; contribute to an innovative transition that will have a significant impact in Nigeria by helping devise strategies for sustainable socio-economic development, inclusive growth, and decent work; be part of and network with a community of practice to shape, drive and support the sustainability agenda across different sectors

Additionally, the seminar participants will also be able to understand the challenges associated with Nigeria’s SDGs implementation journey, the fundamental linkage between SDG8 and other SDGs that are required to be taken into consideration in developing effective policies around SDG8, and understand the trend (evolution and current state) of the sustainability profession in Nigeria and the contribution of the profession to the sustainability agenda amongst others.

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