cement

FG Grants Dangote Cement ₦22.32B Tax Credit

April 29, 2021 1:01 am

The Federal Government through the Federal Inland Revenue Service (FIRS) has issued Dangote Cement Plc, tax credit certificates valued at ₦22.321billion.

The tax credit certificates were issued to the cement manufacturers after they ensured the construction of Apapa-Oworonshoki-Ojota road in Lagos and Lokoja-Obajana-Kabba road straddling Kogi and Kwata states.

Construction giants Julius Berger is handling the construction of the two federal roads, while Dangote Cement Plc is providing the funding.

To compensate Dangote Cement, the Federal Government has issued the company the certificates to cover for the tax that Dangote Cement would have paid.

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Shareholders Endorse CCNN, Obu Cement Merger

December 6, 2019 11:30 am

Shareholders have endorsed the merger bid of Cement Company of Northern Nigeria (CCNN) and Obu Cement Plc, a union that is designed to create greater economies of scale and enhanced operating and administrative efficiencies.

The shareholders’ approval, which took place in Abuja at a court-ordered general meeting, witnessed 157 out of the 170 accredited shareholders voting in favour of the resolution for a merger.

The CCNN Chairman, Alhaji Abdulsamad Rabiu, who presided over the meeting said: “The total number of shares held by shareholders present and who voted was …

BUA Obu Cement And CCNN Set To Merge

October 31, 2019 3:21 am

BUA Group, one of Africa’s largest conglomerates wednesday announced the consolidation of its cement business comprising the publicly listed two million MTPA Cement Company of Northern Nigeria Plc (CCNN) and six million tonnes per annum (MTPA) Obu Cement Company Plc.

The company explained in a statement yesterday, that the move was part of its bid to deepen the Nigerian capital market and enhance the growth of the cement industry,

It also revealed that it has notified the regulators.

Furthermore, BUA announced that its newest three million metric tonnes cement plant which it started constructing in 2018 – the $450million dollars …