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Dangote Cement restates commitment to closing demand-supply Gap …As construction of Okpella cement factory nears completion

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3 years ago

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Following the surge in demand for cement products in the country, Dangote Cement Plc has restated commitment in meeting the demand gap in order to ensure the availability of Cement products in all nooks and crannies of Nigeria and beyond.

Speaking to the media yesterday in Lagos, Dangote Cement’s newly appointed Group Chief Sales and Marketing Director, Mr. Rabiu Umar said that the country has moved from importing cement to become an exporter of cement.

Umar explained that the demand for cement has risen globally as a fallout of the COVID-19 crisis. Nigeria, according to him, is no exception as a combination of monetary policy changes and low returns from the capital market has resulted in a significant increase in construction activity.

He explained further “We got into COVID last year and immediately after COVID there is a surge in demand and this is not particular to Nigeria alone, a couple of countries across the world are also experiencing the same; Mexico, South East Asia, among others.”

L-R: Marketing Director, Dangote Cement Plc, Funmi Sanni; Group Sales and Marketing Director, Dangote Cement Plc, Rabiu Umar; and Group Chief Branding & Communications Officer, Dangote Industries Limited, Anthony Chiejina during the introduction of new Group Sales and Marketing Director of Dangote Cement Plc to the media on Monday, May 17, 2021 in Dangote Industries Head Office, Lagos

He noted that Dangote Cement is aggressively building up more capacity as it recently invested in a new line that has been completed in Obajana Plant and the line is waiting for the power plant for it to commence operation.

Commenting further on capacity building, Rabiu said: “… we have a new plant in Okpella in Edo state, that is also going to start operation very soon. For the last couple of years one of our plants in Gboko, Benue state has not worked; we have re-started the plant all in a bid to make sure that there is enough production. We have also increased the capacity of our Obajana Plant and very soon, I am sure the market will be flooded with enough products. You also need to note that other operators are also increasing their capacity.”

He explained that, “in every business, what drives the price is the demand and supply. Now as a business we have not increased our price up until this point. So therefore, what has happened in price increment in the cement products are forces of demand and supply.”

He said though the company has direct control over its ex-factory prices, it cannot control the ultimate price of cement when it gets to the market. He advised that it is important to distinguish Dangote’s ex-factory prices from prices at which retailers sell cement in the market.

Umar stated further that the Company is trying to make sure that it increases the supply of the product in the market, noting that to make the product available to the end users, the Company is bringing in 2,000 brand new trucks to ease distribution bottlenecks.

“We are buying these trucks and putting them out there to make sure that the distribution is also taken care of. This new development will lead to additional thousands of direct jobs in the country; apart from both direct and indirect jobs the plants will also create.

“Globally, by the time we are done, we believe that the additional capacity we will put on the market compared to what we have in the market today is probably the size of each of our competitors in terms of the additional volume that we will put in the market. And we believe that should help to manage the tension in the country as far as the situation with the skyrocketing prices of cement are concerned.”

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Former Governor Ifeanyi Okowa, Spends Second Night In EFCC’s Cell Over N1.3 Trillion Alleged Fraud

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13 hours ago

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November 7, 2024

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Immediate past governor of Delta State, Ifeanyi Okowa, who was arrested and detained by the Economic and Financial Crimes Commission (EFCC) has spent second night in the custody of the anti-graft commission.

 

Okowa is currently being investigated and detained over the alleged diversion of N1.3 trillion.

 

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

 

According to sources within the commission, Okowa was invited to the EFCC office in Port Harcourt, Rivers State, where he’s subsequently detained by officials.

 

One of the sources stated, “Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested. The commission is investigating him regarding the N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.

 

“He is also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project. The funds are alleged to have been misappropriated for other purposes.

Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt.

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Lagos Government Shuts Down Redeemed Church, Celestial Church, Clubs, Event Centres Over Noise Pollution

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1 day ago

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November 6, 2024

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The Lagos State government has shut down a branch of Pastor E. A. Adeboye’s Redeemed Christian Church of God, a Celestial church, nightclubs and event centres over noise pollution.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, who made this known on Wednesday, said the churches, clubs and event centres were sealed on Tuesday by the Lagos State Environmental Protection Agency (LASEPA) in the Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota areas of the state.

The sealed establishments include: Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Lounge & Lodging, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.

The commissioner in a post on X said, “In a bid to address noise pollution and other environmental violations, the Lagos State Environmental Protection Agency (LASEPA) took action yesterday, closing down several establishments across different parts of the state.

“This enforcement drive, focusing on areas like Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota, is part of LASEPA’s continuous efforts to uphold environmental standards and safeguard public health.

“The affected establishments include Honourable Lounge & Lodging, Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.”

 

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Gen. Taoreed Lagbaja: Tinubu directs flags be flown at half-mast

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1 day ago

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November 6, 2024

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President Bola Tinubu has directed that Nigeria’s national flags be flown at half mast for seven days across the country to mourn the passing of the late Chief of Army Staff, Lt. Gen. Taoreed Lagbaja.

The late Army chief, who was appointed by Tinubu on 19 June 2023, was said to have passed away on Tuesday night after a prolonged illness.

The Secretary to the Government of the Federation, George Akume, in a statement on Wednesday by his office Director of Information & Public Relations, Segun Imohiosen, said the president expressed regret over Lagbaja’s death.

Akume said, “President Bola Tinubu has expressed regret following the death of the Chief of Army Staff, Lieutenant General Taoreed Abiodun Lagbaja, after a brief illness at the age of 56.

“The President has directed that national flags be flown at half mast throughout the country for seven days in honour of the departed Army chief.

“He profoundly appreciates the services of the departed to the nation and wishes the family the fortitude to bear the great loss.”

Meanwhile, the Ministers of Defence, Mohammed Badaru and Bello Matawalle, have commiserated with the president, the military, and Lagbaja’s family over his death.

In a statement by the Ministry’s spokesperson, Henshaw Ogubike, the ministers described Lagbaja’s death as a great loss to his family, the Army, and the nation at large.

“The passing on to eternal glory shocked us at the Ministry of Defence, as our working relationship with him was commendable; he exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed significantly to internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military, and the nation, as he served the nation with commitment and dedication,” the statement added.

 

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