BUA announces reduction of cement price

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BUA Cement Plc, one of Nigeria’s leading cement producers, has announced a reduction in the price of its cement to N3,500 per bag, effective from Monday, October 2.

The management disclosed this in a statement on Sunday, October 1, saying that the price reduction was a commitment made by the company to spur development in the building materials and infrastructure sectors.

“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.” the statement said

“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.”

This announcement comes ahead of the completion of BUA Cement’s new production lines, which are expected to be commissioned at the end of the year and increase the company’s production capacity to 17 million metric tonnes per annum.

BUA Cement also announced that it will review prices further once its new plants are completed, which is expected to happen in the first quarter of 2024.

It, however, noted that all pending, undelivered orders that had been paid for at the old prices will be reviewed downwards to N3500 per bag in line with the new pricing as of October 2, 2023.

The company urges all its licenced dealers to ensure that end-users benefit from this reduction in ex-factory prices, as it will monitor field sales to ensure compliance.

Credit; Guardian Newspaper

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