BUA CEO: It’s cheaper to transport a container from China to Lagos than Lagos to Kano | Dailytrust

BUA CEO: It’s cheaper to transport a container from China to Lagos than Lagos to Kano

Abdul-Samad Rabiu Chairman and CEO of BUA Group has said that it is cheaper to transport a container from China to Lagos than…...

West Africa Container Terminal (WACT)
West Africa Container Terminal (WACT)

Abdul-Samad Rabiu, Chairman and CEO of BUA Group, has said it is cheaper to transport a container from China to Lagos than from Lagos to Kano.

He said this in Paris while commenting on the enormous opportunities in the Nigerian transportation system, particularly the rail sector.

Rabiu said investment in transformation, especially the railways system, will unveil enormous opportunities for the country and investors.

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 mining and manufacturing.

According to him, Nigeria is sitting on billions of tons of different mineral resources including limestone which his company is well known for in the production of cement.

“Nigeria is sitting on 45 billion tons of limestones and presently all the cement factories in the country combined are producing 30 million tons of cement daily.

“We are able to produce for local consumption and also for export.

“One of my plants in Sokoto is exporting cement to Niger Republic which is about 120km to the plant and also to Ouagadougou, Burkina Faso, which is about 400km away from Sokoto.

“Nigeria is one of twelve countries in the world that have large deposit of iron ore, gas and coal, but unfortunately the country is importing steel.

“We spend $2.5 billion annually importing steel to Nigeria.

“With $2.5 billion, we should be able to set up a plant that can produce steel of 1.5 to 2 million tons per annum.”

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. Sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Zenith Bank
1017257739
Media Trust Ltd


Please send details of your bank transfer to the email or Whatsapp number below so that we can contact you.

If you have any questions, please let us know.

Inquiries:
Email: membership@dailytrust.com
Whatsapp: +234 806 990 3410