BUA Crashes Cement Price To N3,500 Per Bag and assures to monitor it’s open market prices
Written by admin on October 2, 2023
A Nigerian cement production company, BUA Cement Plc has annouced a reduction in the price of the commodity.
AbdulSamad Rabiu, the chairperson of BUA cement Plc, last month, said the company was considering a plan to reduce the price of cement upon completion of its new lines by the end of 2023.
Mr Rabiu had explained that the planned reduction was part of efforts to support the Nigerian government‘s quest to alleviate the suffering of Nigerians.
In a statement on Sunday evening, the company’s management said it had now decided to bring the “price reduction forward” in fulfilment of the pledge.
The reduction would now take effect from 2 October, according to the statement which was posted on the firm’s official Facebook page.
“As a result, BUA Cement would now be sold at an ex-factory price N3,500 per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants,” the company said.
Before now, BUA cement was sold at between N5,000 and N5,500 per bag in open markets across the country.
Several Nigerians on various social media platforms have expressed their excitement over the development.
It doest stop only on that
The BUA Cement Plc hinted that it intends to review the reduced prices further in line with their earlier pronouncements.
“All pending, undelivered orders which had been paid for at the old prices will be reviewed downwards to N3,500 per bag in line with the new pricing from October 2, 2023,” it said.
“Our licensed dealers are also enjoined to ensure that end users benefit from this reduction in ex-factory prices as we will monitor field sales to ensure compliance.”
However, Nigerian tweeps called out Dangote, asking him to show that he loves Nigeria by emulating his competitor, BUA Cement and reducing the price of Dangote Cement to N3,500 per bag.
Nigerian tweeps have called out Africa’s richest man, Aliko Dangote, who is also the President of the pan-African conglomerate, the Dangote Group, to emulate fellow businessman, Samad Rabiu, and reduce the price of cement to N3,500 per bag.
As a gesture of goodwill, the Management of BUA Cement, founded by Rabiu, who is also the chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, on Sunday announced the reduction of ex-factory cement price to N3,500 per bag, which he said will take effective from Monday, October 2, 2023.