Nigerian Firm Launches New Cement Variant at New Price as Reps Give Orders to Dangote, Others
- Lafarge Africa, one of Nigeria’s top cement companies, has introduced a new cement variant
- The company launched its ECOPlante Unicem cement in Engugu, which it said is environmentally friendly
- The company disclosed that the new product is designed to reduce CO2 emissions in building construction
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Lafarge Africa, one of Nigeria's leading cement makers, has launched ECOPlanet Unicem, Nigeria’s first low-carbon multipurpose cement.
The new cement variant is designed to reduce CO2 emissions by over 30%, a significant step in the company’s ongoing commitment to sustainable building solutions.
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The cement is produced in Nigeria
The cement is produced from its plant in Cross River state and will be unveiled nationwide by the end of the year as the firm moves to double its market share and allow large-scale low-carbon construction.
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The group managing director and chief executive of Lafarge Africa, Lolu Alade-Akinyemi, stressed the company’s dedication to sustainability.
Reports say that the Lafarge boss said the launch of the new cement is not just about introducing a new product but about redefining the way the company thinks about construction and its impact on the environment,
He disclosed the new product's benefits, stating that its significant reduction compared to traditional cement-making makes it an excellent choice for sustainable construction projects.
According to reports, the new cement provides superior performance and is suitable for various applications.
New cement product to change construction
He disclosed that the new cement variant is available in over 35 regional markets and supports the most advanced sustainability building certifications.
The development came as the House of Representatives Joint Committee investigated the increase in cement prices in the country and issued a directive to manufacturers, including Dangote Cement, BUA Cement, and Lafarge Africa.
Reps give marching orders to cement markers
Jonathan Gaza, the Chairman of the Committee, said that the manufacturers must provide a detailed breakdown of production costs to justify the recent increase in bag cement prices.
The lawmakers noted that although cement prices in the North and some other states have reduced to N8,000 after selling for as high as N13,000 to N15,000, depending on the brand, residents in some states still pay as much as N10,000 per bag.
Legit.ng reported that cement manufacturers crashed the commodity's price after a meeting with the Nigerian government.
The product's price dropped from over N15,000 to N8,500, depending on the brand.
BUA declares profit after slashing cement price
Legit.ng reported that BUA Cement released its first quarter unaudited financial statement for 2024.
According to the report, the company declared N17 billion in profit for three months, which ended on March 31.
This shows a 33% decline from the N27 billion in the prior period. This is despite an increase in revenue for the period. Analysis of the report done by Legit.ng showed that the revenue for the period improved massively by 107% to close at N161 billion from N106 billion in the same period of the previous year.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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Source: Legit.ng
