BUA Crashes Cement Price Monday, October 2, 2023 ICRC Restates Commitment To Bridge Infrastructure Deficit To N3,500 Per Bag

As per the commitment made
to reduce prices and following a periodic review of its opera- tions for efficiency, the man- agement of BUA Cement Plc has announced that effective October 2, 2023, it has decid- ed to bring the price reduction forward.

As a result, BUA Cement would now be sold at an ex-fac-
tory price of N3,500 per bag. The company in a statement said the essence is to allow Ni- gerians to enjoy the benefits of the price reduction before the
completion of our plants.

It said, “we refer to our pre- vious pronouncements re- garding our intent to reduce cement prices upon the com- pletion of our new lines at the end of the year in order to spur development in the building
materials and infrastructure sectors.

“Upon completion of the ongoing construction of our new plants, which would in- crease our production vol- umes to 17 million metric tonnes per annum, BUA Ce- ment PLC intends to review these prices further in line with our earlier pronounce- ments by the first quarter of 2024.”

BUA noted that “all pend- ing, undelivered orders which had been paid for at the old prices will be reviewed down- wards to N3500 per bag in line with the new pricing from Oc- tober 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.”