Nigeria saved $2bln from local production of cement in one year

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News Today

Nigeria has saved $2billion from local production of cement in the country in the past one year, a development which culminated in the corresponding reduction in the import of the product.

The Chairman, BUA Group, Abdulsamad Rabiu, gave the indication on Tuesday, while speaking with State House correspondents at the end of a Presidential Industrial Policy and Competitiveness Advisory Council (PIPCAC), meeting chaired by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.

He noted that the reduction in the importation of the product has equally reduced capital flight, saying: “The most important thing I think is that the cement industry in Nigeria has, and will continue to save Nigeria a lot of foreign exchange.