• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
AFRIPOL

AFRIPOL

en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
  • Home
  • About Us
  • Mission Statement
  • Articles
  • Book Review
  • Archive
  • Contact Us

Aganga: Nigeria To Launch New Cement Policy

January 8, 2013 by Admin Leave a Comment

Written by VENTURES AFRICA

Olusegun Aganga thisday

Nigeria’s Minister of Trade and Investment, Olusegun Aganga, has disclosed that a new policy will soon be effected as part of the country’s cement sector’s Backward Integration Policy (BIP). According to Aganga, the BIP which was adopted in 2002 during the regime of the erstwhile President, Olusegun Obasanjo, will be reviewed to consolidate on the tremendous success recorded so far.

The Minister revealed this during a meeting held with stakeholders in the cement industry in Abuja on Monday to resolve the current disagreement between local cement producer (led by Dangote Cement and Lafarge Cement Wapco) and importers (led by Ibeto Group owned by Nigeria entrepreneur, Cletus M. Ibeto) in the Nigerian cement industry over the allegation of unbridled importation by some importers of the commodity which have supposedly led to glut in the Nigerian market. The situation took a new dimension as it lingers to a crisis point some few weeks ago, forcing the Federal Government to intervene.

Present at the meeting were major stakeholders in the cement sector including;  MD/CEO, Lafarge Cement Wapco Nigeria Plc, Joseph Hudson, Chairman Ibeto Group, Chief Cletus Ibeto, Chairman BUA Group, Alhaji Abdulsamad Rabiu, Group Representative Dangote Industries Limited, Mr. Isa Tata Yusuf and Group Managing Director, Flour Mills of Nigeria Plc, Chief Emmanuel Ukpabi.

According to Aganga, “Following the tremendous success recorded through the introduction and rigorous implementation of the Backward Integration Policy in the cement industry, we are planning to review the entire policy to consolidate on the gains so far recorded.”

“We have achieved everything we set for ourselves 10 years ago when the Backward Integration Policy was introduced, and we want to thank all stakeholders and investors in the sector for the success story recorded so far. However, we want to take the next step as part of our strategy on the way forward. We are forming a group of people that will look at the cement policy in details and come up with the policy response that we need to have in place to take that next step that will make us a major exporter and user of cement in terms of consumption.”

The Minister added that the committee will be set up before the end of this week. He pointed out that no industrial policy has been as successful as the BIP in the Nigerian cement industry.

“In 2002, the major priority of the country’s Backward Integration Policy was about cement production from limestone. I am delighted to say that after 10 years of implementation of the BIP, the good news is that we started with two million metric tonnes capacity, but today, we have about 28 million metric tonnes capacity of cement or investment of about $6 billion; which provides direct and indirect employment for about two million people. And because of what we have done together, we have been able to save the country foreign exchange of about N210bn per year,” Aganga said.

He noted that “For the first time ever, this ministry did not issue any import licence in 2012. This is a remarkable achievement and a major economic success for our country. However, we want to carry out a deeper review of the cement sector to ensure that it is more competitive not just locally but internationally because we are at a point where we should be thinking about exporting some of our products.”

“This means that we need to look at the overall structure including the current pricing, availability, affordability, in addition to developing an export strategy for the sector.”

“This is the key message that I want to pass across in terms of where we are today and what our plans are in terms of where we want to be – going forward. I want to carry everyone along in terms of what we are looking at and incorporate your inputs into what we are planning to do so that at the end of the day, it will be a win-win situation for all the manufacturers, consumers and the Nigerian economy at large,” he said.

Aganga tipped that, “At the end of the day, this is one of the sectors that Nigeria should, and will be rightly known for as one of the greatest contributors to the GDP of the country.”

Filed Under: Strategic Research & Analysis

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

More to See

Nigerian journalist David Hundeyin interviewed by ABC 13 EYEWITNESS NEWS HOUSTON on FBI releasing 2,500 documents of Nigerian president

September 20, 2023 By AFRIPOL

NADECO, where are you? (1) By abiodun KOMOLAFENADECO

September 19, 2023 By AFRIPOL

RSS AllAfrica News: Latest

  • Nigeria: Groups Urge Govt to Implement Its Women Empowerment Policy
    [Premium Times] The group urged the president to consider the implementation of the policy as a national strategy to "unlock the potential" of Nigerian women and ensure national growth and development.
  • Nigeria: Naira Appreciates At Forex Markets
    [Premium Times] The naira strengthened marginally against the dollar at the official market to close at N755.27/$1 on Friday
  • Nigeria: 3,000 Security Personnel Deployed to Abuja Ahead of Independence Day
    [Premium Times] The FCT NSCDC Commandant, Olusola Odumosu, directed the deployed officers and men to protect citizens alongside all national assets and infrastructure in the territory.
  • Nigeria: Mohbad - Court Holds Preliminary Sitting, Adjourns Till Oct 13 for Hearing
    [Daily Trust] The coroner inquest that is looking into the cause of death of 27-year-old IleriOluwa Oladimeji Aloba, known as MohBad, has agreed on the witnesses that will be called to give evidence in the matter.
  • Nigeria: Sidelined Bandit Kingpin 'Behind' Zamfara Varsity Abduction
    [Daily Trust] A sidelined bandit kingpin was responsible for the abduction of female students of Federal University, Gusau, Zamfara State, it has emerged.
  • Zimbabwe: UAE and Zimbabwe Sign Groundbreaking ITMO-Based Conservation Agreement Over 7.5 Million Ha
    [263Chat] Harare - In a landmark development for climate action, the United Arab Emirates' Blue Carbon and the Government of Zimbabwe have joined forces to pioneer forest emission reduction projects under the Paris Agreement's Article 6 ITMO framework.

Tags

Achebe Africa Anambra Boko Haram Buhari CBN Corona Virus Egypt Igbo IMF Inflation Jonathan Kenya Nigeria Okonjo Iweala Peter Obi Sanusi Senate Soludo South Africa Soyinka United States
  • Facebook
  • Instagram
  • Twitter
  • YouTube

Archives

Footer

Africa Political and Economic Strategic Center, AFRIPOL is foremost a public policy center whose fundamental objective is to broaden the parameters of public policy debates in Africa. To advocate, promote and encourage free enterprise, democracy, sustainable green environment, human rights, conflict resolutions, transparency and probity in Africa.

Recent

  • Listen to what Imo Governor Uzodinma is telling the youths !
  • Ireland Gymnastics issues official apology for Black gymnast racism over medal passing over
  • Chiney Ogwumike: Nigerian American WNBA player named to President Biden’s council on African diplomacy
  • Nigeria: Towards A Precarious Democracy
  • Naira Sinks to 1,000 per Dollar in Nigeria 

Search

Tags

Achebe Africa Anambra Boko Haram Buhari CBN Corona Virus Egypt Igbo IMF Inflation Jonathan Kenya Nigeria Okonjo Iweala Peter Obi Sanusi Senate Soludo South Africa Soyinka United States

Copyright © 2023 · AFRIPOL