BUA Cement slashes cement prices to N3,500 per bag
BUA Cement Plc’s management has announced a price decrease in ex-factory cement to N3,500 per bag, effective October 2, 2023.
The announcement was made in a message posted on the company’s social networking site, X, on Sunday.
BUA Cement stated that the company had previously stated its intention to cut cement costs with the completion of additional lines at the end of the year in order to encourage development in the building materials and infrastructure sectors.
However, the company stated that following a periodic evaluation of the organization’s operations for efficiency, it has chosen to announce and tell its valued customers, stakeholders, and the general public that the price drop will take effect on October 2, 2023.
The company said that their BUA cement would now be supplied at an ex-factory price of 3,500 Naira per bag, allowing Nigerians to reap the advantages of the price drop prior to the completion of its plants.
The statement read: “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.
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“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.
“NOTE: 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 pricing from October 2, 2023. 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.”
