Emmanuel OchayiDespite Challenges, Abdul-Samad Rabiu, Chairman of BUA Group, has reiterated the company’s pledge to sell cement at N3,500 per bag starting January 2024.
Speaking to State House Correspondents after meeting President Bola Tinubu in Lagos, Rabiu emphasized BUA’s dedication to ensuring affordability despite obstacles encountered.
“Our set price will be N3,500 per bag, excluding VAT, and delivery costs will vary depending on the distance and location,” Rabiu stated.
READ ALSO: Why We Reduced Cement Price To ₦3,500 – BUA
He lamented about logistics challenges, highlighting the vast distances between the Edo and Sokoto factory sites and different regions in Nigeria, affecting pricing.
Anticipating the inauguration of the Sokoto cement site in January 2024, expected to produce six million tonnes per annum, Rabiu expressed confidence in its potential to influence the market positively.
However, he acknowledged existing issues, emphasizing ongoing efforts to address them.
Rabiu’s statements follow BUA’s earlier pledge in September to decrease cement prices from N5,500 to between N3,000 and N3,500 per bag, aligning with government initiatives to reduce commodity prices. Despite reports indicating the continued sale of cement at previous rates, Rabiu reaffirmed the commitment to the promised pricing, citing external challenges causing the delay in implementing the price reduction.
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