The management of BUA cement has responded to the 7-day ultimatum given to them by a civil society organization to revert to old price of cement, saying its earlier to crash with the price of cement was not a ruse.
In response to the planned picketing of BUA cement office over the inability of the company to actualize its promise to crash price of cement to sell at N3, 500, the company said it actually fulfil that pledge.
Speaking with LEADERSHIP on the issue , the Head of Creatives & Visual Identity Management at BUA Group, Mr Timothy Sogbeinde explained that the company actually sold cement at N3, 500 ex-factory for months before it stopped.
According to Kabir, BUA could not continue with the N3, 500 sales at both the middlemen and wholesale agents did not allow the end-users who were the main targets for the reduction to benefit from the price.
Kabir emphasised that though 90 per cent of raw materials for cement production are locally sourced, yet the production cost which includes rising exchange rate coupled with electricity generation did not encourage BUA to sustain the N3,500 for long.
It would be recalled that a Civil Society Group, early this week, gave the management of BUA a 7-day ultimatum within which to meet its demand or face the consequences.
The group made up of members of Advocacy for Good Governance and Rumen Royal Foundation, cited the wrong price list of its cement given to the country as reason for the ultimatum.
The leadership of Advocacy for Good Governance, Comrade Dr Bartholomew Okoudo and Executive Director, Rumen Royal Foundation, Patience Okhuahensuyi, also called on the management of BUA for public apology for ‘misleading Nigerians’ when it announced that price of its cement will be sold for N3, 500 whereas its cement is being sold at N10,000 per bag.
The group gave BUA 7-day ultimatum to slash price of its cement or face the consequences
Reiterating their call to BUA management to live by its word, they, “that the false declaration by the BUA Group led to very serious consequences for Nigerians, particularly operators within the building and construction industry, as most of them who went for loans in banks to build structures, were disappointed when they realised that BUA cement is now N10,000 instead of N3, 500.
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