BUA Cement Announces Price Reduction to N3,500 per Bag Effective October 2, 2023

BUA Cement Plc has revealed plans to reduce the ex-factory price of cement to N3,500 per bag, beginning October 2, 2023. This decision comes ahead of schedule, as the company originally intended to implement the price reduction upon the completion of new production lines by year-end.

The move is aimed at stimulating development in the building materials and infrastructure sectors. BUA Cement, after reviewing its operations for efficiency, decided to expedite the price reduction. The company emphasized its commitment to making cement more affordable for Nigerians, even before its plant expansion is finalized.

The statement from BUA Cement outlined the plan: "Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17 million 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. All pending, undelivered orders paid for at the old prices will be reviewed downwards to N3,500 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." This proactive move by BUA Cement is expected to have a positive impact on the construction and infrastructure sectors.