Osinbajo promises govt would remove inhibitions to encourage investors, inaugurates Bua’s Obu cement plant

Vice President Yemi Osinbajo inaugurated on Tuesday the Bua’s Obu green field three million metric tonnes per annum cement plant at Okpella, in Edo.
Osinbajo, also performed the ground breaking ceremony of the Obu second line three million metric tonnes per annum where he pledged that the Federal Government would remove all human inhibitions to encourage investors.
While commending management of Bua company for the achievement, he said “i am proud to be a Nigerian. I am also proud to be associated with this wholly Nigerian enterprise, planned and executed by a Nigerian team.
“I am happy to say that this project is a big boost to the Nigerian economy and the opportunity it will provide for both skilled and unskilled youths of this state and the country at large,” he said.
The VP noted that the plant’s output would guarantee self sufficiency of cement production for the nation, especially “when Bua group is using modern and efficient facilities with local materials.
He said the company’s achievement had demonstrated that the Nigerian economy growth plan must be private sector driven. Osinbajo assured the private sector that the federal government would endeavour to make policies that would remove bottle necks but “will identify inhibitions and eliminate them.
“We will continue to create the enabling business environment and will directly assist the private sector to grow which will in turn grow the Nigerian economy,” he said.
Gov. Godwin Obaseki commended the management of the company for taking the bold steps in 2015, to initiate the process of establishing the plant.
He expressed happiness that the management had made success of the company, including completely turning around the acquired moribund Edo cement factory.
Obaseki said the vision and mission of the company were in line with the state government’s economic reform agenda, adding that “the state government is ready to make Edo an industrial haven with friendly tax policies.”
Earlier, the Chairman and CEO of Bua company, Alhaji Abdulsamad Rabiu, said the vision of the company was to provide Nigerians with the best quality cement using the best technology and best hands at the most affordable price.
Rabiu said the choice of Okpella, in Estako East local government area of the state, as the site for the plant, was strategic, saying that “this community has the best limestone in the whole of the country.”
He said on completion of the second line in the first quarter of 2018, “it is expected to take our production capacity to six million metric tonnes per annum.
“Right now, the Obu plant is one of the many cement projects we are doing in Nigeria. It is a modern plant with up-to-date facilities.
“It is technologically advanced and at the end of the construction period, we will be producing additional three million metric tonnes of cement per annum.
“The location is very good, being in the mid-west and it is very close to the cement market in the north, with excellent road networks in the south-west and to the east.
“So this place is at a strategic location to adequately distribute cement all over Nigeria,” he added.
Rabiu said on completion of the second line being handled by SINOMA CBMI of China, “we will be producing 42.5 cement grades while the Obu plant will produce any kind of cement that is allowed by the Nigerian Industrial Standards.”
He expressed confidence that SINOMA with their track record and vast expertise in deploying cement plants across the world, ` will deliver a world-class second line for our Obu Cement Plant.
“It will also meet our stringent environmental, safety, quality and technical requirements for our plants and products,” he said.