BUA Cement PLC announced a reduction in its ex-factory cement prices to N3,500 per bag, starting tomorrow, October 2, 2023. This announcement was made on Sunday evening via the company’s official Twitter account, which is now known as X.
The Management of BUA Cement PLC issued a statement regarding the reduction of cement prices, in alignment with their commitment to stimulate growth in the building materials and infrastructure sectors.
What the statement reads
The statement reads, effective October 2, 2023, BUA Cement will offer its product at an ex-factory price of 3,500 Naira per bag, bringing the price reduction forward, and allowing Nigerians to enjoy these benefits sooner than initially planned.
Also upon the completion of their new production plants which is expected to raise annual production volumes to 17 million metric tonnes, BUA Cement PLC intends to conduct a further price review in line with their earlier statements, tentatively scheduled for the first quarter of 2024.
The statement also reads that It’s important to note that all pending, pre-paid orders at the old prices will be adjusted downward to match the new pricing of N3,500 per bag starting from October 2, 2023.
The company’s authorized dealers are urged to ensure that end-users benefit from these reduced ex-factory prices, and field sales will be closely monitored to ensure compliance with this directive.
What you should know about BUA Cement
Presently, BUA Cement, the second-largest cement producer in Nigeria, operates with a capacity of 11 million tonnes. The recent investment will significantly enhance this capacity by an additional 6 million tonnes.
Furthermore, as stated in the announcement, the new financial package will enable BUA to replace a portion of its diesel trucks with vehicles that utilize natural gas as a partial fuel source. This transition aims to reduce pollution and contribute to environmental sustainability efforts.
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