The management of BUA PLC has crashed the price of the cement it’s producing from about N5,000 per bag to N3,500 with effect from today, October 2.
The company has therefore, directed the dealers to ensure that end-users benefit from the reduction in ex-factory prices.
The management, in a statement, made it clear that its officers would monitor field sales to ensure compliance. “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 will 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 PLC had earlier said: “all pending undelivered orders which had been paid for at the old prices would be reviewed downwards to N3,500/bag in line with the new pricing from October 2 2023.”