Why BUA Reduces Sale Of Cement At N3,500 Per Bag

BUA Cement Plc has expedited its plan to reduce the ex-factory price of its cement to N3,500 per bag, allowing Nigerians to reap the benefits even before the completion of its new production lines.

The company’s management, in a statement released on Sunday, October 1, 2023, emphasized its commitment to lowering cement prices as part of its contribution to the growth of the construction and infrastructure sectors.

In the statement addressed to customers, stakeholders, and the general public, BUA Cement highlighted its ongoing efforts to enhance operational efficiency. It announced, “Effective Monday, October 2, 2023, we have decided to bring forward the price reduction.”

This means that as of October 2, 2023, BUA Cement will be available at an ex-factory price of N3,500 per bag, allowing consumers to benefit from the reduced prices ahead of the completion of the company’s new manufacturing facilities.

The statement also mentioned that following the completion of these new plants, which will increase production capacity to 17 million metric tonnes per annum, BUA Cement PLC plans to conduct a further review of prices in line with its previous announcements, expected by the first quarter of 2024.

BUA Cement however assured that all pending undelivered orders, which were initially paid for at the old prices, will be adjusted downwards to the new rate of N3,500 per bag starting from October 2, 2023.

The company urged its licensed dealers to ensure that end-users benefit from this price reduction, and they will actively monitor field sales to ensure compliance with the new pricing strategy.