Nigeria: Economic Downturn - UniCem to Suffer N9 Billion Losses

19 May 2015

Calabar — The management of United Cement Company of Nigeria (UniCem) has disclosed that the firm will suffer losses totalling N9 billion in 2015 due to the economic downturn currently affecting Nigeria, culminating in the devaluation of the Naira.

Managing Director (MD) of UniCem, Olivier Lenoir, stated this at the weekend while fielding questions from journalists on the progress so far made on the ongoing N84 billion second production line project of the company known as Line II.

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