52 BUSINESS DAY www.businessday.ng www.facebook.com/businessdayng @businessDayNG @Businessdayng Monday <strong>07</strong> <strong>Jan</strong>uary <strong>2019</strong> NEWS L-R: Usman Gur Muhammed, managing director/CEO, Transmission Company of Nigeria (TCN); Gboyega Oyetola, governor Osun State, and his deputy Benedict Olugboyega Alabi, during the courtesy visit by the management of TCN to the governor in Osogbo. BUA, CBMI sign agreement to build New 3million Kalambaina Cement II Plant in Sokoto ENDURANCE OKAFOR Less than one week after the listing of shares from the almost $1 billion Merger between BUA Kalambaina Cement Company and Cement Company of Northern Nigeria where it also assumed majority stakes in the enlarged company, BUA Group has announced that it has signed another contract with world’s renowned cement manufacturing company, CBMI, for the construction of a new 3million metric tonnes per annum Kalambaina Cement Line 2 in Sokoto State, North West Nigeria. This comes barely 90 days after the completion of another 3million MTPA BUA Obu Cement line 2 in Okpella, Edo State, Southern Nigeria and 7 months after the commissioning of its 1.5million MTPA Kalambaina Cement Plant line 1 in Sokoto state thus bringing BUA Cement’s total installed capacity to 11million MTPA by the time the new project Is completed. Speaking at the contract signing ceremony for the plant in Sokoto State, Abdul Samad Rabiu, Executive Chairman/CEO, BUA Group and Chairman of CCNN, disclosed that the construction of the new 3million mtpa kalambaina line was in line with BUA Cement’s strategic midterm expansion programme. According to Abdul Samad, the Nigerian market is still greatly underserved and with the projected growth in major infrastructure projects and spending over the next few years, it is important that local manufacturers are able to scale effectively to meet current and projected demand. Rabiu also added that this partnership between BUA and Sinoma CBMI is not the first as they were responsible for constructing the first BUA Kalambaina plant in Sokoto State. “We are very confident that Sinoma CBMI possesses the necessary technical expertise given their track records in deploying cement plants across the world. ” Mr. Tong Laigou, Chairman of CBMI, signed on behalf of CBMI construction. On BUA becoming Nigeria’s second largest cement producer by volume, Rabiu said that BUA’s strategic cement expansion programme which focused on key regional and export markets has seen it become the second largest producer of cement by volume in Nigeria this year whilst solidifying BUA Cement’s leadership positions in the North West, South South and South East Markets of Nigeria. “We will continue to deliver quality products which has earned us the ‘King of Strength and King of Cement’ moniker amongst block makers who form the largest users of cement in Nigeria” It would be recalled that the Security and Exchange Commission had recently approved the merger of the Cement Company of OMS denies allegation of underhand dealings in Nigeria’s oil business Ocean Marine Solutions (OMS) Limited, a leading asset protection companies in Nigeria, has denied the alleged allegation of its underhand dealing in the nation’s oil business. The company said in a document seen by <strong>BusinessDay</strong> that the allegation came after NNPC approached OMS to replicate the achievement it had accomplished on the Bonny- Port Harcourt pipeline. OMS said its efforts led to the formal re-commissioning of pipeline in April 22 and 23, 2016 by the minister of state, petroleum resources and the immediate past group managing director, NNPC. “Fearful that we will put an end to their illegal racketeering, vested interested in the Trans Forcados Pipeline (TFP) have engaged in a clumsy smear campaign in an effort to harm us and preserve the status quo,” OMS said in the statement. OMS lashed the alleged accusers and it said, “We hold Kola Karim, Shoreline Natural Resources Limited and Eraskorp Limited accountable for spreading these pathetic and malicious falsehoods.” The Marine Company further explained in the document, “if we accept NNPC’s invitation to take over responsibility for the security of the TFP, we will gladly put an end to the criminal abuse of another key part of our strategic national infrastructure. “The decision to assign the TFP surveillance package to OMS was reached after consideration of huge losses on TFP and rigorous appraisal of the company’s impressive record of performance on the Bonny-Port Harcourt and Warri-Escra- vos Crude Oil evacuation lines,” OMS quoted NNPC to have said. On that basis, OMS said, “The suggestions put in the press that OMS involvement in the TFP is untoward is outrageous.” The company cited that “since April 2016 we have delivered 60.17 million barrels of oil (and counting) to both refineries without any loss to the nation.” It further explained, “OMS did not seek out the TFP security and surveillance contract from NNPC. We were approached and invited to render our services because of the dire security situation and because we have reputation for delivering results.” OMS threatened to take legal step to resolving the accusations. “We will take the necessary legal and other steps to protect our reputation and expose the truth.” Northern Nigeria Plc with BUA’s Kalambaina Cement Company Limited of Nigeria that saw the enlarged CCNN become Nigeria’s 12th largest company by market capitalisation. BUA Group’s current cement assets include the 6million MTPA Obu Cement I & II plants in Okpella, Edo State, the 500,000mtpa Edo Cement Plant, the 1.5million MTPA Kalambaina Cement Plant and the 500,000 Sokoto Cement Plant. The Group also owns over 90 percent stake in the publicly listed Cement Company of Northern Nigeria Plc and is widely acclaimed for its high capacity utilisation, efficiency and quality of its products. ‘Amaechi’s leaked audio tape reveals deceit in APC’ OWEDE AGBAJILEKE, Abuja People’s Democratic Party (PDP) has reacted to the leaked audio tape by the director-general of APC Presidential Campaign Council, Rotimi Amaechi. Fielding questions from journalists at a press conference on Sunday in Abuja, Kola Ologbondiyan, director, media and publicity, PDP Presidential Campaign Organisation, said the audio tape by the minister of transportation revealed the deceit in the governing party. Amaechi was reported to have been caught on tape criticising President Muhammadu Buhari. The audio clip posted by Reno Omokri, an aide to former President Goodluck Jonathan, on his Twitter handle, echoes a voice he attributed to Amaechi purportedly saying, “Buhari neither reads nor listens to anyone.” However, Business- Day could not authenticate the voice. In the said audio allegedly attributed to Amaechi was a voice saying, “The President is not listening to anybody. He doesn’t care. You can write anything you want. The President doesn’t care. Does he read?” Reacting to the development, Ologbondiyan said the tape revealed the lies and deceits the governing party employed in winning the 2015 elections. He said: “PDP’s comments on audio tape of Amaechi talking of the audio tape making the rounds in social media concerning the Minister of Transportation, Rotimi Amaechi, I think he has a huge responsibility to defend himself. “But if his principal, President Buhari, feels that the tape is normal, it is not our business in the PDP. What is out in the public domain is just a demonstration to Nigerians about the lies, deceptions, contrivances and beguilement that APC deployed to win the 2015 election. It shows that they have no plans, no agenda, no vision in whatever form as far as governance is concerned for Nigerians. “And if one member of their own inner Caucus has come out to admit that, it is not within the purview of the PDP.”
Monday <strong>07</strong> <strong>Jan</strong>uary <strong>2019</strong> C002D5556 BUSINESS DAY 53