News360
BUA management says effective October 2, 2023, its cement will offer its products at a new ex-factory price of 3,500 Naira per bag, thereby accelerating its plan to reduce the price.
The move according to the statement released by the management is aimed at bolstering the building materials and infrastructure sectors.
The price review according to the statement released by the management was originally scheduled for the end of the year upon the completion of new production lines.
The Chairman of BUA, Abdul Samad Rabiu had earlier met with President Bola Tinubu with a promised to review the price of the product.
However, the company decided to implement this price reduction earlier,
This proactive approach allows Nigerians to experience the advantages of reduced prices well before the new plants’ construction is finalised.
BUA Cement Plc is currently expanding its production capabilities, with ongoing construction projects set to increase production volumes to an impressive 17 million metric tonnes per annum.
The management said this is In alignment with its prior commitments, the company plans to review these prices once again in the first quarter of 2024.
The statement said that, all pending undelivered orders, which were previously paid for at higher rates, will be adjusted to the new price of N3,500 per bag as of October 2, 2023.
BUA cement emphasised the importance of ensuring that end-users benefit from these reduced ex-factory prices and will actively monitor field sales to ensure compliance.