BUA Cement, one of the foremost Nigerian cement factories has slashed price of cement to N3500 per a bag.
The development which was disclosed through its verified X handle, is to be effective from October 2, 2023.
The management of the company also said will further review the price in the future so as to quicken construction works in all sectors.
“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.
“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.”
However, management of BUA Cement added that all pending orders will be reviewed downwards accordingly to the new price.
“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.”
Read Also: Malik Afegbua, Nigerian AI Artist recreation of a magical old age gets world doff hat
Agency Report
PIJAlance Magazine, is an independent public-centric journalism arm of PIJA Foundation that stands to tell stories connecting the masses to community justice and development. We always rebel against social injustice. Got a story you'll like us to publish, tip us in contact us.