BUA Cement PLC has just announced a price reduction for its cement product, which will take effect from October 2, 2023. Starting from that date, the price per bag of cement will be lowered to N3,500.
This decision aligns with the company’s commitment to stimulate growth in the building materials and infrastructural sectors.
The announcement was made via a statement on BUA Cement’s X (formerly Twitter) page.
This development follows a recent meeting between the company’s chairman, Abdul Samad Rabiu, and President Bola Tinubu, during which Rabiu pledged to review the product’s price.
The statement emphasized BUA Cement’s intent to reduce prices upon the completion of new production lines by the end of the year, aimed at fostering development in the building materials and infrastructure sectors.
In light of their dedication to this commitment and a thorough evaluation of operational efficiency, BUA Cement Plc has decided to expedite the price reduction.
Consequently, as of October 2, 2023, BUA Cement will be available at an ex-factory price of N3,500 per bag.
This adjustment is intended to allow Nigerians to benefit from the price reduction even before the new plants are fully operational.
The company also revealed its plan to revisit these prices in the first quarter of 2024, once the ongoing construction of new plants is completed, boosting production volumes to 17 million metric tonnes per annum, in accordance with their earlier announcements.
