Nigerian Billionaire Starts Another Building Material Business as Cement Price Increases
- BUA Gypsum Plaster Limited officially opened its 2,400-ton-per-day gypsum plaster production facility in Port Harcourt
- It is projected that the factory will significantly boost domestic production, meet rising demand
- Plaster of Paris and plasterboards for the construction and housing industries are the plant's specialities
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Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
A division of the BUA Group, BUA Gypsum Plaster Limited, has formally opened its 2,400-ton-per-day gypsum plaster production plant in Port Harcourt, Rivers State.
Source: Getty Images
The plant, which is billed as Nigeria's largest plaster production facility, is anticipated to greatly increase local manufacturing, satisfy growing domestic demand, and lessen reliance on imported gypsum products, according to a statement from the company.
The plant specializes in making plaster of Paris and plasterboards for the building and housing industries.
BUA Group Chairman Abdul Rabiu spoke about the milestone and reiterated the company's commitment to assisting Nigeria's industrial and infrastructure development.
“This facility is a critical step in our mission to enhance local capacity, improve the gypsum value chain, and promote infrastructure development across Nigeria and West Africa.
“With a daily production capacity of 2,400 tonnes, we are poised to address the needs of the construction industry and reduce Nigeria’s reliance on imports,” Rabiu said.
Additionally, distributors are being invited to sign up for special access to BUA Gypsum Plaster Ltd.'s products. Companies that are interested must register; the deadline is December 31, 2024.
It announced that the company's products will be made available to registered distributors at a discounted ex-factory price of N8,000 per bag.
BUA claims that the discounted price is a component of its launch strategy, which aims to empower distributors and encourage the use of locally produced goods at competitive prices.
It further stated that the construction of the gypsum plaster plant is in line with BUA's continuous initiatives to support regional manufacturing in all of its business divisions.
“It complements the company’s other investments in cement production, sugar processing, and infrastructure, further solidifying its position as a leader in Nigeria’s industrial landscape,” the statement stated.
“BUA’s commitment to quality manufacturing and capacity enhancement continues to resonate with its vision of driving Nigeria’s economic growth through industrialization and infrastructure development,” the statement added.
Dealers announce new price for cement
Legit.ng reported that the cost of building materials in Nigeria has increased by almost 100% compared to the previous year.
Blocks, for instance, used to cost N250 each, but nowadays, their prices vary from N550 to N600, depending on their size.
The cost of cement went from N4,000 to N8,800 per bag, a 100% increase.
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Source: Legit.ng
