Tag: BUA Group

Akwa-Ibom: Community accuses BUA of land-grabbing, vows to halt refinery  

Aminu Imam
Akwa Ibom vs BUA

The dispute over the ownership of the land between two communities in Akwa-Ibom State is threatening the BUA refinery and petrochemical complex with the Ekid people insisting that the Stubbs Creeks Forest, where the project is located is their territory and not of their Ibeno neighbours. Promoted by AbdulSamad Rabiu, a philanthropist and industrialist, the BUA refinery and petrochemical project is located off the Atlantic Coast in the Stubbs Creek Forest, an area being disputed by the people of Ibeno, Esit Eket and Eket local government areas of Akwa-Ibom State.…

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EFCC operatives probe 52 companies over FX transactions with CBN

Aminu Imam

…Visits Dangote Group HQ Operatives of the Economic and Financial Crimes Commission (EFCC) yesterday conducted a search operation at the head office of the Dangote Group in Lagos as it widens investigations into the foreign exchange transactions during the tenure of former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. It was gathered that the EFCC wrote to the various companies asking for documentation on their forex transactions in the last 10 years. Details of the EFCC investigations are still sketchy, but it appears to be a blanket…

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N200bn Tax Evasion: FIRS gives BUA Industries 7 days to submit relevant documents

Aminu Imam

The Nigerian Government, through the Federal Inland Revenue Service (FIRS), has issued a seven-day ultimatum to BUA Industries Limited to reconcile with the Government or pay N198.7 billion arising from non-compliance with income tax laws and  Value-Added Tax (VAT) returns remittance. The tax liability is for 2022. A letter addressed to the Managing Director of BUA Industries Ltd, dated September 19, 2023, from Bar Beach Micro and Small Tax Office, said the failure of the company to provide the documents requested would force the service to apply the provisions of…

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Cement marketers defy BUA’s price slash announcement, sell at old price of N5,500 per 50kg bag

Aminu Imam

Cement marketers in the South-western region have refused to adhere to the recent price reduction of the product announced by the management of BUA Cement company. Recall that the cement manufacturer had, in an issued statement last week, announced that from Tuesday, October 2, 2023, it will slashed the ex-factory price of the commodity by 30 percent, with a bag selling for N3,500 per bag. However, findings have revealed that the price of BUA branded cement had largely remained the same in the South-West, especially in Abeokuta, Osogbo, Ibadan and…

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‘It’s cheaper to transport a container from China to Lagos than from Lagos to Kano’ – BUA Chairman, AbdulSamad laments

Aminu Imam

Chairman and CEO of BUA Group, Abdul-Samad Rabiu, has said it is cheaper to transport a container from China to Lagos than from Lagos to Kano. He said this in Paris, France, while commenting on the enormous opportunities in the Nigerian transportation system, particularly the rail sector. Rabiu commended the Buhari administration’s investment in rail infrastructure across the country. He, however, urged global financiers and private investors to invest in the rail sector. He said with large arable land in Nigeria, there are opportunities in commercial agriculture as well as…

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Just In: Ganduje reconciles Dangote, BUA in Abuja

Aminu Imam

Chairman of Dangote Group of Companies, Alhaji Aliko Dangote and Chairman of BUA Group of Companies, Abdulsamad Isiyaka Rabiu have reconciled their differences on Thursday at a meeting convened by Kano State governor, Abdullahi Umar Ganduje in Abuja. The meeting was attended by business tycoon Alh. Aminu Alhassan Dantata, who played the role of a father during the meeting; Minister for Commerce, Trade and Investment, Niyi Adebayo, amongst others. The reconciliation meeting took place at Kano Governor’s Lodge, Asokoro, Abuja, which put a stop to all rumours making round that…

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CACOVID disowns BUA’s purchase of 1 million COVID-19 vaccines for Nigeria

Aminu Imam

The Coalition Against COVID-19, (CACOVID), has disowned BUA’s purported plan to purchase one million COVID-19 vaccines singlehandedly for Nigeria. BUA was quoted on Monday that it has paid for 1 million doses of AstraZeneca COVID-19 vaccines for Nigeria through the AFREXIM Vaccine programme in partnership with CACOVID. Recall that speaking on the development, philanthropist and Founder of BUA, AbdulSamad Rabiu, had yesterday thanked the President of the Afrexim Bank, Dr. Benedict Oramah for making the purchase possible and the Central Bank of Nigeria, (CBN), Governor, Godwin Emefiele, for co-ordinating the…

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“We’ve bought 1m doses of AstraZeneca vaccines for Nigeria” – BUA Group

Aminu Imam

BUA Group says it has purchased one million doses of AstraZeneca Covid-19 vaccines for Nigeria, through the AfreximBank vaccine programme, in partnership with Coalition Against Covid-19 (CACOVID). The vaccines, which should be delivered by next week, will be the first delivery of vaccines to Nigeria since the COVID-19 vaccines became available. According to BUA, the vaccines will be distributed to Nigerians at no cost. The founder of BUA, AbdulSamad Rabiu, thanked the president of the AfreximBank, Benedict Oramah, for making the purchase possible and the Governor of Central Bank of Nigeria,…

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