BUA Reduces Price of Cement to N3,500

BUA Cement PLC said on Sunday that the price of its cement product will be reduced to N3,500 per bag beginning Monday, October 2, 2023.

It stated that the price cut was in keeping with its aim to promote development in the “building materials and infrastructure sectors.”

The company announced the price reduction in a statement posted on its X (formerly Twitter) page.

This development comes just weeks after the company’s chairman, AbdulSamad Rabiu, vowed to examine the product’s price after meeting with President Bola Tinubu.

The statement read in part, “We refer to our previous pronouncements regarding our intent to reduce cement prices upon the completion of our new lines at the end of the year, in order to spur development in the building materials and infrastructure sectors.

“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 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.

“Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17million metric tonnes per annum, BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.”


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