To encourage development in the building materials and infrastructural sectors, BUA Cement Plc has announced the reduction of the price of its cement product to N3,500 per bag with effect from Monday, 2nd October 2023.
The price reduction is coming weeks after the company’s Chairman, Abdul Samad Rabiu, met with President Bola Tinubu, and promised the product price review.
In a statement released on Sunday, the company said upon completion of the ongoing construction of its new plants, which would increase production volumes to 17 million metric tonnes per annum, BUA Cement PLC intends to review these prices further, in line with earlier pronouncements by the first quarter of 2024.
Explaining that “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”, the company enjoined its licensed dealers to ensure that end-users benefit from the price reduction in ex-factory prices, and promised to monitor field sales to ensure compliance.