BUA Cement Plc held its Annual General Meeting in Abuja, Nigeria, on July 21, 2025. The company reported significant financial growth for the year, with revenue reaching ₦876.5 billion, up from ₦460 billion in 2023. Profit before tax increased by 48.2% to ₦99.6 billion compared to ₦67.2 billion the previous year, while profit after tax rose by 6.3% to ₦73.9 billion from ₦69.5 billion.
During the reporting period, BUA Cement expanded its operations by commissioning two new production lines in Edo and Sokoto States, raising its installed capacity from 11 million metric tonnes per annum (MMTPA) to 17 MMTPA. The company also began construction of a greenfield 3 MMTPA production line in Ososo, Edo State. Additional investments were made in logistics through the purchase of more trucks and the digitalization of payment and product order processes via an online payment solution aimed at reducing customer waiting times.
Managing Director and CEO Yusuf Binji said: “As we reflect on our achievements in 2024, BUA Cement stands at the threshold of unprecedented opportunity, strategically positioned to address Nigeria’s persistent infrastructure deficit while delivering exceptional value to our shareholders. Our journey forward is anchored on four interconnected priorities that will define our success: optimise our production capacity, continue prudent debt management, expand our market presence in underserved regions, and embrace digital transformation across our operations”.
He added: “BUA Cement remains anchored to the RICE values – Respect, Integrity, Commitment and Excellence. These principles, mirrored in every bag of cement we produce, ensure that trust is not just a promise but a measurable outcome.”
Chairman Abdul Samad Rabiu addressed shareholders stating: “With a proposed dividend of ₦2.05 per share, representing a 94% payout ratio, we continue to demonstrate our strong com¬mitment to shareholder returns, consistently distributing over 90% of our profits. This reflects both our confidence in the busi¬ness and our sustained financial performance.” He expressed appreciation for shareholders’ confidence as well as employees’, partners’, and customers’ support.
The meeting also saw the unanimous reelection of three retiring directors: Shehu Abubakar (Independent Non-Executive Director), Finn Arnoldsen (Non-Executive Director), and Khairat Abdulrazaq-Gwadabe (Independent Non-Executive Director).