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AS part of efforts to spur development in the building materials and infrastructure sector, the management of BUA Cement yesterday announced a reduction of cement ex-factory price to N3500 per bag .
In a statement by its spokesman Tim Sogbeinde, said “As per the commitment made to reduce prices and following a periodic review of our operations for efficiency, the management of BUA Cement Plc wishes to announce and inform our esteemed customers, stakeholders, and the public that 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 N3,500 per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants”.
The statement added that upon completion of the ongoing construction of its new plants, which would increase production volumes to 17 million metric tonnes per annum, BUA Cement PLC would review these prices further in line with its earlier pronouncements by the first quarter of 2024.
It stated that outstanding and undelivered orders already paid for at the old prices will be reviewed downwards to N3500/bag in line with the new pricing template from October 2, 2023.
It enjoined licensed dealers to ensure that end-users benefit from this reduction in ex-factory prices as its implementationwill monitor field sales to ensure compliance.
