Did BUA Cement reduce the price of cement to N3,500 per bag?

BUA Cement Plc, a leading player in the Nigerian cement industry, has announced a significant reduction in its ex-factory cement prices, effective from October 2, 2023. The company had initially planned to implement this reduction upon the completion of their new production lines by the end of the year, but the decision was expedited to stimulate growth in the building materials and infrastructure sectors.

The ex-factory price for BUA Cement has now been set at 3,500 Naira per bag, providing an immediate benefit to consumers even before the new production facilities are fully operational. BUA Cement is focused on passing on the advantages of this price reduction to the Nigerian populace as part of their commitment to supporting national development.

Looking ahead, once the ongoing construction of new plants is completed, and production capacity increases to 17 million metric tonnes per annum, BUA Cement PLC plans to conduct a further review of prices in alignment with their earlier announcements. This review is anticipated to take place in the first quarter of 2024.

Importantly, all pending and undelivered orders, previously paid for at the former prices, will be adjusted to reflect the new pricing of N3,500 per bag starting from October 2, 2023. BUA Cement PLC has also urged its licensed dealers to ensure that end-users reap the benefits of this reduction by closely monitoring field sales to guarantee compliance with the revised ex-factory prices.