By Fatima Zahra Muhammad
ASHENEWS reports that BUA Cement on Sunday announced the reduction in the price of cement in a bid to boost business in the infrastructure sector.
The company, in a statement said that the new price of N3,500 takes effect from October 2, 2023.
“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.”
The statement said that all pending, undelivered orders which had been paid for at the old prices will be reviewed downwards to N3500 per 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 company added.
