BUA reduces price of cement to N3,500

The management of BUA Cement Plc has announced a reduction in its ex-factory cement prices to N3,500 per bag starting from 2nd of October, 2023.

BUA in a statement said the development was to ensure that Nigerians enjoy the benefits of the price reduction before the completion of its plants.

The company said the decision followed its previous pronouncements to reduce cement prices upon the completion of its new lines at the end of the year in tour 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.

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“Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17m17 million tonnes per annum, BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.”

According to BUA, all pending, undelivered orders which had been paid for at the old prices will be reviewed downwards to N3500/bag in line with the new price.

“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.”