BUA reduces the cost of cement to N3,500

Date:

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Bidemi Rufai released from U.S. prison, faces deportation after multimillion-dollar fraud conviction

Bidemi Rufai released from U.S. prison, faces deportation after...

Appeal Court Sacks MC Oluomo As NURTW President

The Court of Appeal, Abuja Division, has declared Alhaji...

Tears as Lagbaja buried in Abuja, gets posthumous national honour

Emotions ran high as the Chief of Army Staff,...

MultiChoice writes off $21m deposited in defunct Heritage Bank

MultiChoice Group Limited has written off $21m deposited in...