Abigail ErhiagbojeBUA Cement PLC has finally reduced the price of its cement to ₦3500 per bag, says it is in line with its quest to spur development in building infrastructure sector.
In a statement signed by the management released today, October 1, being Nigeria’ 63rd independence anniversary, BUA said the price reduction takes effect from Monday, October 2, 2023.
Prior to this announcement, a bag of cement sold for ₦5,000 in various parts of the country.
BUA had earlier announced its intention to reduce price of cement upon the completion of its new production lines by the end of the year to stimulate activities in the building material and infrastructure sector.
It said that after review of their operations for efficiency, the management of BUA Cement PLC decided to bring the price reduction forward.
The statement reads: “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 ₦3500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.”
The company also revealed that the price would be further reviewed by the first quarter of 2024 upon completion of its other new cement plants which would increase production volumes to 17 million metric tonnes per annum.
In respect to the reduction, the company assured the public that all pending undelivered orders which had been paid for under the old price will be reviewed downward in line with the new price from the 2nd of October 2023.
The company also enjoined its licensed dealers to make sure that consumers also benefited from the price reduction as they are willing to supervise all sales to ensure cooperation from them.
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