The Chairman and Chief Executive Officer (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.
Speaking in Paris while commenting on the enormous opportunities in the Nigerian transportation system, particularly the rail sector., Rabiu, said 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 can produce for local consumption and also for export. One of my plants in Sokoto is exporting cement to the 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 deposits 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”, Rabiu was quoted as saying.
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