BUA Group has unveiled plans to increase its cement market share with 10 million metric tonnes by 2018.
At the company’s yearly customers’ forum and award held in Abuja, its Executive Chairman, Abdulsamad Rabiu, said the firm would double its production capacity through an expansion of its production plants.
“Cement business is a very challenging one, because it is a capital intensive business especially with the declining value of the naira. But I want to assure you that we have embarked on an expansion drive that will be completed by the end of next year or at the beginning of 2018,” Rabiu said.
He said cement was cheap compared with other African countries, noting that, despite the harsh operating environment, the company would continue to meet its stakeholders’ aspirations.
Rabiu said the essence of the forum was to celebrate the success of the company’s partners and interact with them.
“This is an acknowledgement of a solid partnership that works. It is our way of celebrating them for constantly dealing with us through the years to this point. We are rewarding our key distributors who have shown excellence and tenacity in the face of the prevailing economic situation,” he stated.
Rabiu added that the loyalty of distributors to the brand has helped maintain its high position in the market. “The dedicated workforce is appreciated as well,” he said.
Presenting 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.”
BUA Acting Managing Director Mr. Yusuf Benji said despite the challenging operating environment, the company would not compromise on the quality of its products.
“Our watchword is quality. Anybody that knows our products can attest to their high level quality that will not be compromised. We are going to give Nigerians value for their money,” he stated.
The company has staked about N100 million in cash rewards, cars and other prizes to stakeholders that supported its business last year.
In a related development and in furtherance of its commitment to boosting rice production, the Group has disbursed N600 million interest-free loans to rice farmers in Kano State.
In addition to the interest-free soft loan of N288,000 to each farmer, improved seeds, fertilisers, pumping machines and other rice farming tools were also distributed free to over 2,000 rice farmers.
The event, which held at Imawa Village, Kura LGA of Kano State, brought together rice farmers from Kano and Jigawa states, under the umbrella of Rice Farmers Association of Nigeria (RIFAN), Kano Chapter.
Rabiu was at the event to engage the farmers and supervise the distribution of the farm inputs and tools.
He expressed optimism on the partnership between rice farmers and BUA Rice Milling Company.
His words: “Kano State, by far, is one of the most potential states in the country for rice farming and BUA is happy to have successfully established a mutual benefitting partnership with the rice farmers”.
He further stated that the non-interest soft loan granted to farmers was BUA’s way of encouraging farmers to increase their yields.
Rabiu reiterated that it is the organisation’s initiative of supporting government’s plan towards the drive to diversify the Nigerian economy into agriculture as an alternative to crude oil exploration.
With 2,000 beneficiaries reached during this pilot phase, BUA targets 50, 000 farmers to benefit from the scheme in the next four years, with a target of a minimum of a million tonnes from Kano State alone.
