BUA Cement Plc, a prominent cement manufacturer in Nigeria, has declared a reduction in the price of its cement to N3,500 per bag, starting from Monday, October 2.
The management conveyed this information in a statement released on Sunday, October 1, emphasizing that the price reduction reflects the company’s commitment to stimulating growth in the construction and infrastructure sectors.
The statement stated, “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.”
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Consequently, BUA Cement will now offer its cement at an ex-factory* price of N3,500 per bag, allowing Nigerians to reap the benefits of the price reduction even before the completion of our production plants.
This announcement precedes the completion of BUA Cement’s new production lines, set to be commissioned by year-end, which will boost the company’s production capacity to 17 million metric tonnes annually.
BUA Cement has also indicated that it will further review its prices once the new plants are fully operational, expected in the first quarter of 2024.
In line with the new pricing effective from October 2, 2023, all pending, undelivered orders that were paid for at the previous prices will be adjusted downward to N3,500 per bag.
The company has encouraged all its authorized dealers to ensure that the end-users benefit from this reduction in ex-factory prices, and it will closely monitor field sales to ensure compliance with this directive.
