Thursday, October 5, 2023
By Ella Patrick
BUA CEMENT SLASHES TO 3,500 PER BAG
BUA Cement has come to aired out the reduction of their cement product at 3,500 per bag which started on Monday 2, 2023.
According to the report it was said the price reduction was in line with its commitment to stimulant development in the building materials infrastructural sectors.
The company announced the new price in a statement which was posted on twitter page.
The company’s chairman, Abdul SAmad Rabiu, after meeting with the president of Nigeria Bola Tinubu, promised to review the price of the product.
The statement read in part, “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.
“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 tons per annum, BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.
Dangote defends criticism over the price of cement
Meanwhile, on the other hand, Dangote’s company has criticized this new development. He said its cement price is line with or lower than the prices across the west African coast.
Dangote company also said a price of cement from its factories across Nigeria had not increase, contrary to various reports across media.
There has been boundless criticism directed at the company over the variation the price of cement in Nigeria, compared to other west African countries.
However, it was stated by the company said as of Monday Dangote price of cement was N4,010 in Okpelle, and N4,640 in Ibese, Objana and Gboko.