In a major move aimed at propelling progress in the construction and infrastructure sectors, BUA Cement PLC has declared a substantial reduction in the price of its cement product to N3,500 per bag, set to take effect starting Monday, October 2, 2023.
This announcement aligns seamlessly with BUA Cement’s unwavering commitment to fostering growth in the realm of building materials and critical infrastructural development.
The company chose the digital stage, posting the price cut revelation on its official social media platform, X (formerly Twitter).
This momentous decision comes on the heels of a pivotal meeting between BUA Cement’s Chairman, Abdul Samad Rabiu, and President Bola Tinubu, where the company vowed to reevaluate the cost of its cement product.
The official statement issued by BUA Cement PLC reads, “With reference to our previous declarations regarding our intention to slash cement prices upon the completion of our new production lines at the year’s end, as part of our strategy to stimulate progress in the building materials and infrastructure sectors, we are delighted to announce that, effective October 2, 2023, we are advancing our price reduction.
Consequently, BUA Cement will be available at an ex-factory price of 3,500 Naira per bag, enabling Nigerians to experience the advantages of this price revision well ahead of the completion of our new manufacturing facilities.
“As we near the conclusion of our ongoing construction projects, which will bolster our production capacity to an impressive 17 million metric tonnes per annum, BUA Cement PLC intends to further reevaluate these prices in line with our earlier commitments, come the first quarter of 2024.”
This strategic move by BUA Cement PLC is poised to have a far-reaching impact on the accessibility of cement in Nigeria, potentially fueling an upsurge in construction and infrastructure projects across the nation.