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BUA Cement’s Attempt to Reduce Cement Prices to N3,500 Per Bag Thwarted by Dealers’ Actions, Says Chairman AbdulSamad Rabiu.
BUA Cement’s Attempt to Reduce Cement Prices to N3,500 Per Bag Thwarted by Dealers’ Actions, Says Chairman AbdulSamad Rabiu.
“BUA Cement’s Price-Cut Plan Undermined by Dealers Selling at Double the Cost, Says Chairman Rabiu”
AbdulSamad Rabiu, the Chairman of BUA Cement, has revealed the challenges his company faced in its attempt to reduce cement prices to N3,500 per bag. During the company’s 8th Annual General Meeting held in Abuja yesterday, Rabiu explained how BUA Cement’s efforts to make cement more affordable for Nigerians were undermined by the actions of cement dealers.
Rabiu detailed that BUA Cement had initially sold over a million tons of cement to dealers at the reduced price of N3,500 per bag, with the intention that these cost savings would be passed on to the end-users, ultimately making construction materials more affordable for the average Nigerian. However, this strategy did not yield the intended results, as many dealers took advantage of the situation, selling each bag at exorbitant prices ranging from N7,000 to N8,000.
The BUA Cement Chairman expressed his disappointment, noting that the company had no control over the pricing decisions made by dealers in the open market. He emphasized that BUA Cement’s goal was to benefit the consumers and not to inadvertently enrich dealers. “So, a lot of the dealers took advantage of that policy. Rather than pass the low prices to the customers, they were selling at even double the price we sold to them,” Rabiu stated.
The situation became even more untenable when Nigeria faced economic challenges, including the devaluation of the Naira and the removal of the fuel subsidy. These factors made it increasingly difficult for BUA Cement to continue its price reduction policy. Rabiu highlighted that the rapid depreciation of the Naira, which saw the exchange rate skyrocket from approximately N600 to N1,800 per US Dollar, significantly impacted the company’s ability to maintain the lower price point.
“We wanted that price to stay at that level, but dealers refused,” Rabiu lamented. “So, we could not sustain that simply because we did not want to be in a situation where we are subsidizing dealers.”
The Chairman’s remarks shed light on the complexities of regulating prices in the Nigerian market, where external economic factors and the actions of intermediaries can drastically alter the intended outcomes of corporate policies. Despite BUA Cement’s best efforts to alleviate the financial burden on consumers, the market dynamics and the profit-driven motives of some dealers made it impossible to achieve the company’s goal of providing affordable cement to Nigerians.
Rabiu’s statements have sparked discussions on the need for better regulatory mechanisms in the Nigerian cement industry to ensure that manufacturers’ intentions to lower prices are not thwarted by intermediaries seeking to maximize profits at the expense of consumers.
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African Report
Access Bank, Fifth Chukker and UNICEF Renew Commitment to Expanding Educational Opportunities for Nigeria’s Most Vulnerable Children
Access Bank, Fifth Chukker and UNICEF Renew Commitment to Expanding Educational Opportunities for Nigeria’s Most Vulnerable Children
London, United Kingdom – July 6, 2026: The transformative power of collective action in expanding access to education took centre stage in London as Access Bank UK, Fifth Chukker, UNICEF and the Kaduna State Government reaffirmed their shared commitment to creating brighter futures for Nigeria’s most vulnerable children.
Hosted by Access Bank UK, Access UK Polo Day celebrated more than 15 years of impact driven by a shared vision to expand educational opportunities for underserved children. What began as a modest initiative has evolved into one of Africa’s most impactful education programmes, with the Access Bank Fifth Chukker School in Kaduna State and its associated interventions positively impacting more than 14,000 children across underserved communities in Northern Nigeria.
At the heart of this transformation is the Access Bank Fifth Chukker School, where investments in educational infrastructure, learning resources and student support have created lasting opportunities for thousands of children. Between 2018 and 2026 alone, the school recorded 2,538 graduates, with female pupils accounting for more than 54 per cent of the total, underscoring the programme’s contribution to advancing girls’ education and promoting inclusive access to learning.
More than 1,000 pupils benefit from the school’s internationally recognised foundational learning programme each year, contributing to improved literacy and numeracy outcomes and a reported 15 per cent increase in learning performance. Students continue to secure admission into leading secondary schools, while teachers receive ongoing professional development and digital learning support. Enhanced infrastructural facilities and expanded learning resources have further strengthened the overall learning environment, helping to sustain the programme’s long-term impact.
This year’s event reinforced a compelling message: Every pledge should lead to a classroom, every classroom should empower a child, and every child should have the opportunity to shape a brighter future.
Speaking at the event, the Managing Director and Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, reflected on the remarkable growth of the initiative and the unwavering commitment of its supporters.
“What began as a dream to transform the lives of 100 children has grown into a movement that has positively impacted more than 14,000 young people. We want to return next year talking about 28,000 children. Education remains the greatest leveller, giving every child a genuine opportunity to realise their potential and contribute meaningfully to society.”
Ogbonna expressed appreciation to donors and partners whose support has sustained the initiative, noting that investment in education creates lasting intergenerational impact.
Kaduna State Governor Uba Sani described education as one of the most valuable investments any society can make. He praised the longstanding alliance between Access Bank, Fifth Chukker and UNICEF, noting that it has restored hope and opportunity to thousands of children from underserved communities.
Highlighting Kaduna State’s ongoing education reforms, the Governor revealed that approximately 300,000 out-of-school children had been returned to classrooms over the past year through partnerships with organisations including UNICEF and other development partners. He also announced plans to construct an additional 120 classrooms at the Fifth Chukker Access Bank UNICEF School, enabling even more children to access quality education.
“What we are doing here is about humanity. By giving children access to quality education, we are empowering them to dream, to lead and to build a better future for themselves and their communities.”
Governor Sani also paid tribute to the late Herbert Wigwe, acknowledging his vision, leadership and enduring commitment to improving educational outcomes for underserved populations.
For Aigboje Aig-Imoukhuede, Chairman of Access Holdings, the true success of the initiative is reflected in the lives being transformed.
“The most meaningful measure of success is not the number of buildings we construct, but the opportunities we create. Every child who receives an education, every young person who discovers their potential, and every community strengthened through learning represents the lasting impact of this partnership. Together, we are proving that when purpose meets collaboration, we can create opportunities that change lives for generations.”
Welcoming guests, Jamie Simmonds, Chief Executive Officer of The Access Bank UK, described the gathering as polo with purpose, a celebration not only of sport but of a shared mission to create opportunity through education. He highlighted the institution’s commitment to supporting initiatives that deliver sustainable social impact and broaden access to learning for underserved children.
The event concluded with a renewed commitment from all stakeholders to deepen investment in education as a catalyst for national development and social progress. The Access Bank Fifth Chukker School continues to demonstrate the impact of sustained collaboration among the private sector, government and development partners, delivering measurable outcomes for vulnerable children in Northern Nigeria.
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Business
HumanManager Equips UNILAG Students with Practical Digital HR Skills Through NextGen HR Initiative
HumanManager Equips UNILAG Students with Practical Digital HR Skills Through NextGen HR Initiative
HumanManager, a leading HR and payroll technology company, has reaffirmed its commitment to developing Nigeria’s future workforce through the 2026 edition of its NextGen HR Initiative, a capacity development programme designed to equip future HR professionals with practical digital skills. Held on Wednesday, 17 June 2026, at the Faculty of Management Sciences, University of Lagos (UNILAG), the event exposed participants to hands-on training using HumanManager’s HR software, bridging the gap between classroom learning and workplace practice.
Now in its third consecutive year at the University of Lagos, the initiative was delivered under the theme, “HR in a Digital-First World: From HR Theory to Digital Practice.” Through practical simulations and live demonstrations, participants explored digital HR workflows, automation, employee data management, leave administration, attendance management, reporting, compliance and other technology-driven processes that are transforming how organisations manage their workforce.
Speaking during the programme, Jerry Adeyeri, Lead, Brands & Marketing at HumanManager Limited, said the initiative demonstrates the company’s commitment to building a future-ready workforce while giving back to society through meaningful corporate social responsibility.
“The world of work is changing rapidly, and today’s HR professionals need more than theoretical knowledge. They must understand the digital systems that power modern organisations. Through the HumanManager NextGen HR Initiative, we are bridging the gap between what students learn in the classroom and what they will encounter in the workplace by giving them practical exposure to HR technology. Ultimately, this is our way of investing in society, strengthening Nigeria’s talent pipeline and helping young professionals graduate with the skills employers increasingly expect,” He noted.
Throughout the interactive workshop, students explored how technology is transforming modern human resource management through live demonstrations of HumanManager’s HR platform. Commending the initiative, Dr Mariam Gbagumo-Sheriff, Senior Lecturer, Department of Employment Relations and Human Resource Management, University of Lagos, described HumanManager as a dependable industry partner whose sustained commitment has significantly enriched students’ learning experience.
“HumanManager has supported this practical training for several years, and it has been invaluable. Teaching Human Resource Information Systems without access to a live platform would be extremely difficult because students need practical experience, not just theory. What stands out is the consistency of the partnership. This year, HumanManager reached out to us before we even made contact, demonstrating a genuine commitment to preparing our students for the realities of the workplace. Our students consistently provide positive feedback after every session, and experiences like these make their transition into the workplace much easier,” She acknowledged.
Sharing his experience, Ayeni Damilare, a 300-Level student and Class Governor, said the programme transformed his understanding of modern HR practice, noting that: “The session completely changed my perception of HR. We experienced practical functions such as leave management, reporting and auditing on a live platform, showing us how technology simplifies HR operations. It gave us a clearer understanding of how HR works in the real world and the skills we will need, whether we build our own businesses or work within established organisations.”
Temitope Obidike, Products Lead at HumanManager, also shared insights into how artificial intelligence is reshaping HR technology. She noted that the company is “actively exploring AI capabilities across recruitment, employee database management and payroll processing through strategic partnerships and in-house innovation, ensuring it continues to evolve in line with global AI trends while delivering greater value to organisations and HR professionals.”
As organisations increasingly embrace automation, artificial intelligence and digital workforce management, initiatives such as this are helping ensure that tomorrow’s HR professionals graduate with both theoretical knowledge and practical workplace competence. Through sustained collaboration with academic institutions, HumanManager continues to contribute to a future-ready workforce while advancing the adoption of modern HR technology across Africa.
About HumanManager
HumanManager is a leading HR and payroll technology platform powering workforce operations across Africa. With over 30 years of experience, the platform helps organisations streamline employee data, manage payroll and compliance, and build operational confidence as they grow. HumanManager supports businesses of all sizes across multiple African countries, enabling efficient, compliant and people-centred workplaces.
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Access Bank UK Polo Day Drives Global Support for Education of Vulnerable Children
London, United Kingdom – June 30, 2026: For many children, the biggest barrier to success is not talent; it is access. Across parts of Nigeria and other underserved communities, the absence of basic educational resources continues to limit what is possible for thousands of young people. Access Bank UK Polo Day has, over the years, positioned itself as a platform designed to address that gap.
Scheduled for July 4, 2026, in Windsor, the event will convene a global audience of business leaders, philanthropists, royalty, and high-net-worth individuals. While it remains one of the most anticipated fixtures on the social calendar, its focus is clear: to mobilise resources and partnerships that support education for vulnerable children.
What sets the Polo Day apart is how it converts visibility into impact. The event brings together a network of influence and directs it towards practical outcomes, funding classrooms, supporting learning programmes, and enabling children to stay in school. Through its collaboration with UNICEF and local partners, funds generated have supported education initiatives that target some of the most pressing challenges, including access to facilities, materials, and consistent schooling. These interventions have helped thousands of children continue their education despite economic and social barriers.
The objective for 2026 is to extend this reach, raising more support and improving the scale and quality of interventions. At its core, the initiative is driven by a simple idea: that education should be accessible, regardless of circumstance.
This year’s event will also host His Royal Highness, Alhaji Abdulmumini Kabir Usman, as Special Guest of Honour. He will present the Emir’s Cup, adding a layer of heritage and continuity to the occasion.
A respected figure in both sport and community leadership, the Emir represents a long-standing polo tradition in Nigeria and a broader commitment to social development. His participation reflects the event’s broader purpose: connecting influence, legacy, and impact.
Jamie Simmonds, Managing Director of The Access Bank UK, highlighted the importance of the initiative: “This event is about using our platform to create access
where it is most needed. By bringing together the right partners and supporters, we are able to deliver outcomes that can make a real difference in the lives of many children.”
Over time, the Polo Day has evolved into more than an annual event. It has become a consistent channel for mobilising support and delivering measurable social impact, demonstrating how corporate platforms can be used to address real challenges.
As preparations continue, the significance of the 2026 edition lies in what it enables. At the end of it all, the real outcome is simple: more children in school, more opportunities created, and better futures made possible.
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