In an effort to reduce the price of cement in Nigeria, BUA Cement Plc. has announced plans to lower the price from N5,500 to between N3,000 and N3,500. The company's chairman, Abdul Samad Rabiu, revealed this after meeting with President Bola Tinubu at the State House in Abuja.
Mr. Rabiu said that the reduction in price is a result of his company's support for the Federal Government's efforts to stabilize the prices of essential commodities.
Rabiu said “Let me thank his excellency Mr. President for graciously receiving me today, I came to intimate his excellency on the affairs of our cement business.
“We have two new lines of 3 million tons each that we will be commissioning by the end of the year.
“So I explained to him that we want to support the efforts of the government in bringing down the cost of cement, 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.”