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CCNN, BUA Cement Win Best Africa Merger Award

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The 1.1 billion dollars merger between the Cement Company of Northern Nigeria (CCNN) and BUA Group’s Kalambaina Cement has won the “Best Merger & Acquisition Deal in Africa” award at the EMEA Finance Achievement Award.
Group Head, Corporate Communications, BUA Group, O’tega Ogra, said last Sunday that the award was presented to the company in London by the EMEA Finance.
EMEA Finance reports on major financial events initiated and influenced by the international financial industry active in Europe, Middle East, and Africa.
Speaking on the award, Group Chief Operating Officer, BUA Group, Chimaobi Madukwe, expressed gratitude to EMEA Finance for the award, describing it as a global nod to the expansion programme of the BUA Group.
Madukwe reiterated BUA’s commitment to ensuring high capacity utilisation, efficiency and better quality of its products with its investments in cement manufacturing in Africa.
“As a brand, this is a very big achievement for BUA. And we thank EMEA Finance for the award.
“The award is highly competitive, and for BUA Group’s investment and achievement in the cement sector to be recognised in this manner, it gives the management of CCNN and BUA a satisfaction that our strategy to expand beyond the shores of Africa is realisable,” he said.
He said the merger described as the biggest in 2018 further reaffirmed CCNN’s position as the market leader in the North West regional market with huge export opportunity to countries like Niger and Burkina Faso.
The Securities and Exchange Commission (SEC) had in December 2018 approved the merger of the 500,000 metric tonnes per annum CCNN and 1.5 million metric tonne per annum Kalambaina Cement.

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Housing/Property

Lagos To Tackle Unauthorised Real Estate Practitioners

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The Lagos State Government says it will tackle the menace of unauthorised real estate practitioners across the state.
The Special Adviser (SA) to the Governor on Housing, Mrs Toke Benson-Awoyinka, said this in a statement in Lagos on Monday.
Benson-Awoyinka said that the state government had planned a stakeholders forum for real estate practitioners, aimed at tackling the menace.
She said that the one-day stakeholders engagement slated for Wednesday (today) had as its theme “Lagos Real Estate: Achieving 21st Century Compliance.”
The special adviser said that the theme of the forum showed that the state government was making frantic efforts to eradicate the dubious practices of some real estate practitioners in the state.
According to her, the forum will help restore sanity and orderliness to the housing sector.
Benson-Awoyinka said that a legal approach alone might not be enough to solve the problem of fraud in the real estate business in the state, without the commitment of all the stakeholders.
She, however, said that the present administration was determined to ensure conducive environment for seamless operation within the sector.
“I implore the real estate/agency businesses to cooperate with the state government, so that the state as a smart city would be made investors’ haven, not only in Africa, but the world at large,” she said.
The SA called on all interested stakeholders across the state to register for attendance through the link: http://lasretrad.eventrite.com free of charge.

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Housing/Property

Police Confirm Collapse Of Two-Storey Building In Jos

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The Plateau State Police Command has confirmed the collapse of a two-storey building at Butcher Street, Terminus Market in Jos North Local Government Area of the state.
The Police Public Relations Officer (PPRO) of the command, DSP Terna Tyopev told newsmen in Jos that the incident occurred Sunday afternoon.
Tyopev, however, said that neither was any life lost in the incident nor any casualty recorded.
He said officers and men of the command had condoned off the affected area and investigations into the cause of disaster had commenced.
He said the action became necessary in order to also prevent hoodlums from taking advantage of the situation to loot.

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Housing/Property

Pilgrims Commission Opens Bid For Heritage House Construction

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The Nigeria Christian Pilgrim Commission, has opened the bid for the expression of Interest and prequalification for the construction of Pilgrims Heritage C House, phase 1A, in Abuja.
In a statement in Abuja, yesterday, , the Assistant Director, Media and Public Relations, Mr Celestine Toruka NCPC, explained that the bid was opened at NCPC headquarters in Abuja on Monday.
At the ceremony, the Director in-charge of NCPC, Mrs Esther Kwaghe, said the organisation would ensure due diligence in  considering the proposals by the bidders.
She said, “we want to have value for the money the government is investing in this project.’’
Kwaghe thanked the representatives of various groups who attended the bid opening for their confidence and trusting the commission.
Kwaghe said that the commission would be transparent and fair to all and urged the bidders to accept the final outcome of the selection process since only one company would be selected.
The bid opening was attended by various construction companies, civil society organisations as well as officials of Bureau of Public Procurement, who described the exercise as transparent and fair.
The NCPC Pilgrims Heritage C House Phase 1A, to be located at Central Business District, Abuja, comprises basement parking space for 70 vehicles, two ramps for entry and exit to the auditorium and other facilities.
The main auditorium has 1,400 seats and back stage with conveniences.

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