When the firm’s new production lines were finished at the end of the year, the company promised to lower cement prices.
Nigerians can start benefiting from the price drop before the completion of BUA Cement Plc’s plants, according to a review of the timeframe for the implementation of its decreased ex-factory pricing of N3,500 per bag.
In a statement released on Sunday, the company’s management underlined its promise to lower cement prices after the company’s new production lines are finished at the end of the year in order to promote growth in the infrastructure and building materials industries.
The manufacturer announced in a statement to the public, stakeholders, and customers that it regularly evaluated the effectiveness of its operations.
We have chosen to bring the price reduction forward, effective October 2, 2023, it stated.
So that Nigerians can start to profit from the price reduction before our plants are finished, BUA Cement will now be offered at an ex-factory* price of 3,500 Naira per bag.
“BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024, upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17 million metric tonnes per annum.”
According to BUA Cement, as of October 2, 2023, all unfulfilled orders that have been paid for at the former prices would be revised downward to N3500 per bag.
“We will monitor field sales to ensure compliance,” it stated. “Our licenced dealers are also enjoined to ensure that end-users benefit from this reduction in ex-factory prices.”
