BUA Cement crashes ex-factory cement prices to N3,500/bag
Effective October 2, 2023, an ex-factory 50kg bag of BUA Cement will be sold at N3 500 in the Nigerian market.
According to the management of BUA Group in a statement, the reduction is in line with its previous pronouncements regarding the company’s intent to reduce cement prices upon the completion of it’s new lines at the end of the year. The move, the company said, is in order to spur development in the building materials and infrastructure sectors.
“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 BUA Group said.
Also, the company noted 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. “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.”
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