By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Nigeria’s top cement manufacturer, Dangote Cement Plc (DANGCEM) at the weekend earned the commendation of members of the Nigerian Youth Parliament (NYP) on its 42.2 3X(R) cement brand.
A statement from DANGCEM said the youth group commended the management of the company for the introduction of the 42.2 3X(R) cement which they described as an innovation in the domestic economy.
This is coming on the heels of the conferment of the NYP centenary leadership award of excellence on DVG Edwin, group managing director (GMD) of Dangote Cement at the Corporate Headquarters of Dangote Industries Ltd in Lagos, Nigeria.
Umar Etudaye who led the youth group said the 42.2 3X(R) introduced would eliminate the high incidence of building collapse in Nigeria. “The new product is a proof of the resilience of Dangote Cement to have always break new grounds while growing the economy with innovations,’’ he said.
‘’The award is in recognition of your immense contributions to economic development, distinctive stride in the area of nation building, construction and infrastructural quality assurance in the pan-African cement company,’’ he affirmed.
The leader of the youth group specifically lauded achievements of Aliko Dangote, president/chief executive officer (CEO) of the Dangote Group for leading the initiative to make Nigeria self-sufficient in production of cement; ending importation of the crucial building material.
In his response, Edwin said he feels deeply honoured by the award and commended the NYP for the honour and recognition given to the Dangote Group.
‘’It’s heartwarming that youths are working together to correct societal ills including juvenile delinquency, the GMD of Dangote Cement said.
He advised them to exert more effort to build the right character in the youths. ‘’Bodies and organisations like the NYP working to mentor and give youths good direction, Nigeria’s future looks bright,’’ he added.
Dangote Cement produces the 42.5 cement grade from its three (3) factories in Obajana, Kogi State, Gboko, Benue State and Ibese, Ogun State. The grinding of the grade is better, smoother, which makes it to expel pockets of air therefore preventing cracks in pillars, beams and other areas where it is used.
As part of efforts towards eliminating the menace of building collapse, the Standards Organisation of Nigeria (SON) embarked on the standardisation of the basic inputs in building and construction like iron and steel, roofing materials. Having completed standardisation in other areas, the agency set out to review cement standard. It adopted a holistic approach to ensure that standards are maintained in all spheres of the building process.
As a result of widespread protests over rampant building collapse, the regulatory agency took the commendable step of immediate response to review cement standards in the country. The technical committee of SON consulted widely with stakeholders from all sectors including the Nigeria Society of Engineers (NSE), COREN, universities, researchers, builders, block makers, among others, towards fashioning a suitable cement standard regime.
The stakeholders agreed to streamline cement types, with 42.5 cement for general purposes while 32.5 will now be restricted to plastering work. SON’s effort at reviewing cement type standard is commendable as it will restore sanity to the system.
However, Dangote Cement said its revenue in the third quarter (Q3) 2014 grew 7.63 percent to N310.21 billion from N289 billion posted in the Q3 of 2013.
Similarly, gross profit inched up marginally to 1.53 percent as the cement maker declared N199.7 billion in the Q3 of 2014 compared to N196.9 billion in the third quarter of 2013.
At the end of Friday’s transaction on the floor of the Nigerian bourse, share price of company rose slightly 0.02 percent as sales opened at N214.95 and closed N215.00 gaining 0.05 kobo.
