Abdul-Samad Rabiu, Chairman of the BUA Group, has reasserted the company’s commitment to retailing cement at the rate of N3,500 starting January 2024.
Rabiu made this announcement following a meeting with President Bola Tinubu in Lagos on Thursday, underscoring the company’s dedication to ensuring the product remains accessible and affordable for consumers despite facing various challenges.
Rabiu clarified that the stipulated price would be N3,500 per bag, excluding VAT, and the final delivered price would vary based on the region and distance from the manufacturing plants in Edo and Sokoto states.
The imminent inauguration of a new cement plant in Sokoto in January 2024 is expected to significantly contribute to market expansion nationwide, producing about six million tonnes annually.
In September, Abdul Samad Rabiu had initially announced plans to reduce the price of cement in Nigeria from N5,500 to a range between N3,000 and N3,500. This reduction aimed to align with the federal government’s efforts to lower prices of essential commodities in the country.
Despite some delays in implementing the price cut due to external challenges, Rabiu emphasized BUA Cement’s unwavering commitment to delivering on the promised reduction.
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