Business

Dangote Plans Rail Lines To Reduce Cement Cost

Published

15 years ago

October 7, 2011

The Dangote Group says it will soon construct rail tracks from all its cement factories to the national railway to reduce transportation and cost of the product.

Mr. Akin Adesokan, The Managing Director of Dangote Cement Terminal in Lagos, disclosed this on Sunday when he conducted distributors round the Dangote Cement Factory in Ibese in Ogun.

He said the project was necessary because the cost of transporting bulky goods such as cement in the country was still a challenge.

Adesokan said Dangote would also establish a vessel freight to boost the exportation of goods to the Economic Community of West African States (ECOWAS) markets.

He said the move was to forge a strong bilateral trade relationship amongst the ECOWAS member-countries.

Adesokan said with the vessel freight, the movement of goods outside and within the country would reduce the cost of haulage and the product. “The challenge is taking our goods from the factory to the ports, and since there is no railway system, it makes transportation of bulky goods burdensome,’’ he said.

The official said Dangote had invested heavily on haulage because the company has bought over 2,000 trucks to distribute cement to all depots in the country.

“This is our own Corporate Social Responsibility and no other company has done this.

“The price will definitely come down because the Chairman of Dangote Group, Alhaji Aliko Dangote, has the interest of Nigerians at heart.

“He wants to bring down the price of cement to the barest minimum so that everybody can afford it.

“The factory in Ibese has the capacity to produce six million tonnes of cement per annum and it is to bring cement to every part of the South-West region.

“Before now, we cannot bring cement from Obajana down to the South-West. But, with this factory now, it will be a thing of the past.

“From Ibese, we can take cement to Ibadan, Oyo, Ogun and all other parts of the South West region,” he said.

Adesokan said he took cement distributors to the factory because he wanted them to see the extent of readiness of the factory.

He pointed out that the demand for cement in the country was currently about 17 million metric tonnes annually but envisaged that the demand would increase this year.

The official assured that the Ibese factory would be completed this month, while the first batch of production would follow immediately.

A distributor with the Ifelodun Cement Dealers Association, Ewekoro, Mr. Abodunrin Matthew, called on the federal government to address the issue of transportation infrastructure in the country.

“What we need from the government are good roads, because there is a shortcut to the Ibese factory through Apapa to Lagos-Ibadan expressway. “The government has to support local manufacturing companies like Dangote for it to help the country stop the importation of some goods into the country,” Matthew said.

Another distributor, the chief executive officer of David Excellence Nigeria Limited, Mr.Ade Shaleye, advised that the Dangote company must put in place infrastructure.

He said this would help to make its goods available to distributors at less cost.

Business

Boat Mishap Kills Pastor, Wife And Church Members In Brass Water

Published

2 days ago

May 18, 2026

The Tide

A boat accident in Bayelsa state has killed a serving Pastor, Wife and other church members along Brass waterways

The sad incident happened at Odioama in Brass local government area of Bayelsa State when the Pastor, wife and members of his church were in a programme.

?Tide confirmed that the lifeless body of the Pastor’s wife has been found and deposited in a mortuary while the remains of her husband ,the Pastor is yet to be recovered

as search party are still ongoing.

Although the real cause of the boat Mishap is not yet known as at the time of this report, our Correspondent gathered that the identities of the Pastor, wife and church members were not disclosed to the public.

The mishap, Tide gathered occurred on Friday morning when the church members were on a boat transit

The Bayelsa State government and the state police command are yet to issue official statement’s on the sad accident

By: CHINEDU WOSU

Business

Rivers Workers Seek Scrapping Of Contributory Pension Scheme

Published

2 days ago

May 18, 2026

The Tide

The Rivers State Council of Nigeria Civil Service Union has called on the State Government to urgently scrap the contributory pension scheme, describing it as unfavourable to long-serving civil servants in the state.

Chairman of the union, Chukwuka Osuma, said this in an interview with newsmen in Port Harcourt, recently.

Osuma said the current pension structure has continued to worsen post-retirement hardship for workers.

He noted that the contributory pension scheme had failed to provide adequate retirement security for workers who had spent many years in service, especially those approaching retirement age.

According to him, civil servants who had served for more than 20 years were among the worst affected under the scheme, insisting that many retirees could no longer cope with prevailing economic realities.

He also informed that the Union has made moves to showcase their concerns, pleading with Governor Siminalayi Fubara to abolish the pension policy and introduce a more favourable arrangement for affected workers.

“The union was not opposed to pension reforms, the contributory scheme should only apply to newly employed workers or those with fewer years in service”, he said.

Osuma explained that workers who had already spent decades in the civil service ought to remain under a more secure pension structure capable of guaranteeing stability after retirement.

The labour leader further noted that inflation and the rising cost of living had continued to erode the value of retirement savings, thereby increasing the suffering of pensioners across the country.

He also appealed to the state government to consider extending the years of service in the civil service from 35 to 40 years and the retirement age from 60 to 65 years.

Osuma argued that such adjustment had become necessary in view of present-day economic realities and changing conditions in the workplace.

The unionist also reviewed that similar policies had already been adopted in some sectors and jurisdictions, expressing optimism that the State could also implement the reforms for the benefit of workers.

He however, commended Governor Fubara for approving an N85,000 minimum wage for workers in the state, noting that the amount was above the national benchmark of N70,000.

Osuma also acknowledged the government’s efforts in the area of workers’ promotions and bonuses, but insisted that pension reforms and extension of years of service remained critical to the long-term welfare and stability of civil servants in Rivers State.

By: King Onunwor

Business

FG Begins South-West Tour To Promote New Cooperative Bank

Published

1 week ago

May 13, 2026

The Tide

The Federal Government has launched the South-West zonal engagement and ministerial advocacy tour on the Cooperative Bank of Nigeria share capital mobilisation, sensitisation and cooperative sector digitalisation.

Reports say the initiative was launched through the Federal Ministry of Agriculture and Food Security.

According to reports, the advocacy tour, organised by the ministry’s Federal Department of Cooperatives, began on Monday in Lagos.

Speaking at the event, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr Aliyu Abdullahi, said the initiative was part of President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Abdullahi described the exercise as a strategic effort to reposition the cooperative sector as a key driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity.

“Today represents a defining moment in our collective determination to reposition the cooperative sector as a major driver of inclusive economic growth, financial inclusion, enterprise development, food security and national prosperity,” he said.

The minister noted the modern cooperative movement in Nigeria originated in the South-West following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance of 1935.

According to him, the decision to commence the sensitisation and share capital mobilisation tour in the region is symbolic, as it marks a return to the roots of cooperative development in the country.

Abdullahi said the advocacy tour was a direct outcome of resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.

He said the council approved the Renewed Hope Cooperative Reform and Revamp Programme, a comprehensive framework designed to strengthen the cooperative sector and align it with the administration’s goal of building a one-trillion-dollar economy.

“The reform programme focuses on seven strategic pillars, including governance reforms, cooperative financing and the establishment of the Cooperative Bank of Nigeria, digitalisation, capacity building, value chain development, inclusion of youths, women and persons with disabilities, and strategic partnerships,” he said.

He said the establishment of the Cooperative Bank of Nigeria and the digitalisation of the cooperative sector were the two major transformational initiatives under the programme.

“The Cooperative Bank of Nigeria is aimed at rebuilding a strong cooperative financial system capable of supporting cooperators, farmers, artisans, traders, SMEs, youths, women and persons with disabilities with accessible and affordable financial services,” he said.

Abdullahi emphasised that the proposed bank would be government-enabled but not government-funded.

“Government is not establishing the bank as an owner, nor will it rely on Treasury Single Account funds.

“The role of government through the FMAFS is to provide policy support, stakeholder coordination, regulatory facilitation and an enabling environment under the Renewed Hope Cooperative Reform and Revamp Programme,” he said.

Also speaking, the Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, reaffirmed the state government’s commitment to cooperative sector transformation.

She described cooperatives as critical tools for promoting inclusive growth, grassroots productivity, food security, financial inclusion and community wealth creation.

Ambrose-Medebem said Lagos State would continue to support reforms and collaborate with stakeholders to ensure the successful implementation of the Renewed Hope Cooperative Reform and Revamp Programme (2025–2030).

“Together, let us build a cooperative ecosystem that is modern, transparent, digitally enabled, financially inclusive and globally competitive.

“Let us build cooperatives that not only mobilise savings, but also mobilise prosperity,” she said.