BUA Commences Sales Of Cement At N3,500 Per Bag
BUA Cement Plc has examined the timeline for the implementation of its reduced ex-factory price of N3,500 per bag, stating that Nigerians can start enjoying the benefits of the price reduction before the completion of its plants.
The company’s management, in a statement issued on Sunday, cited its commitment to reduce cement prices after the completion of the company’s new lines at the end of the year, in order to speed up development in the building materials and infrastructure sectors.
Addressing its customers, stakeholders, and the public, the manufacturer stated that it had conducted a periodic review of its operations for efficiency.
The statement read, “Effective October 2, 2023, we have decided to bring the price reduction forward.”
“As a result, BUA Cement would now be sold at an ex-factory* price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.
“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.”
BUA Cement further revealed that all pending, undelivered orders which had been paid for at the old prices would be reviewed downwards to N3500 per bag in accordance 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,” it added.
