BUA Cement Plc, one of Nigeria’s leading cement producers, has announced a reduction in the price of its cement to N3,500 per bag, effective from Monday, October 2.
The management disclosed this through a statement on Sunday, saying the price reduction is a commitment made by the company to spur development in the building materials and infrastructure sectors.
“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.” the statement said.
“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.”
The announcement comes ahead of the completion of BUA Cement’s new production lines expected to be unveiled at the end of the year. It will increase the company’s production capacity to 17 million metric tonnes per annum.
BUA Cement also announced that it will review prices further whem its new plants are completed, which is expected to happen in the first quarter of 2024.
It, however, noted that all pending, undelivered orders that had been paid for at the old prices will be reviewed downwards to N3500 per bag in line with the new pricing as of October 2, 2023.
The company urges all its licensed dealers to ensure that end-users benefit from this reduction in ex-factory prices, as it will monitor field sales to ensure compliance.