BUA Cement To Sell At N3,500/Bag From October 2

A bag of BUA cement will sell at N3500 from Monday, October 1, 2023.

The company disclosed this in a statement on Sunday.

The company in previous pronouncements promised to reduce cement prices upon the completion of its new lines at the end of the year, in order to spur development in the building materials and infrastructure sectors.

The statement said: “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.”

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Furthermore, BUA Cement assured that upon completion of the ongoing construction of their new plants, which would increase their production volumes to 17million metric tonnes per annum, BUA Cement PLC intends to review these prices further in line with earlier pronouncements by the first quarter of 2024.

“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,” the statement concluded.