“BUA Cement Announces Plans to Cut Cement Prices in Nigeria to N3,000 – N3,500”
BUA Cement Plc. has unveiled its intention to reduce cement prices in Nigeria from the current N5,500 to a range of N3,000 to N3,500. The announcement came after a meeting between the company’s Chairman, Abdul Samad Rabiu, and President Bola Tinubu at the State House, Abuja.
Rabiu explained that this price reduction is part of BUA Cement’s commitment to support the Federal Government’s efforts to stabilize essential commodity prices. However, this reduction will be implemented after the commissioning of two new plants, each with a 3 million tons operating capacity, at the end of the year.
Rabiu stated, “By the time these lines are commissioned, BUA Cement will be producing about 17 million tons per annum, and with that, we intend to bring down the cost of cement from its current level of N5,000 or N5,500 per bag to maybe N3,000 to N3,500 per bag.”
He emphasized that BUA Cement can pursue this price reduction because it manufactures cement locally, utilizing primarily Nigerian raw materials, such as limestone and gypsum. This initiative aligns with the government’s goal of making essential commodities more affordable for the public.
The inauguration of the two new plants later in 2023 will significantly increase BUA Cement’s production capacity to 17 million metric tons.
