In accordance with their commitment to reducing prices and after conducting a routine operational efficiency review, the management of BUA Cement Plc has announced that, effective from October 2, 2023, they have advanced the implementation of the price reduction,leadership reports.
Consequently, BUA Cement will now be available at an ex-factory rate of N3,500 per bag. The company explained that this move aims to enable Nigerians to reap the benefits of the price reduction even before the completion of their plant expansions.
In their statement, BUA Cement referred to their previous statements about their intention to lower cement prices once their new production lines are completed by the end of the year. This initiative is intended to stimulate growth in the building materials and infrastructure sectors.
The statement further stated, “Upon the successful completion of our ongoing plant construction, which will boost our annual production capacity to 17 million metric tonnes, BUA Cement PLC plans to reevaluate these prices in accordance with our earlier commitment, by the first quarter of 2024.”
BUA also assured that all pending, prepaid orders made at the previous prices would be adjusted to the new rate of N3,500 per bag starting from October 2, 2023. Additionally, the company urged its authorized dealers to ensure that the end-users benefit from this reduced ex-factory pricing, with a promise to actively monitor field sales for compliance.