In fulfilling the promise of reducing the price of cement in the country, BUA Cement has issued a statement to effect the change.
GOVIMA reported that Abdul Samad Rabiu, the CEO, stated that, in support of the government’s efforts to lower the prices of essential commodities, BUA Cement is planning to commission two new cement plants by the end of the year.
We refer to our previous pronouncements regarding our intent to reduce cement prices upon the completion of our new lines at the end of the year in order to spur development in the building materials and infrastructure sectors.
The revelation was made known on X on Sunday evening. It reads in parts, “As per the commitment made to reduce prices and following a periodic review of our operations for efficiency, the management of BUA Cement Plc wishes to announce and inform our esteemed customers, stakeholders, and the public that effective October 2, 2023
we have decided to bring the price reduction forward. As a result, BUA Cement would now be sold at an ex-factory* price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.
Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17million metric tonnes per annum, BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.” the statement concludes
