The management of BUA Cement Plc, on Sunday announcement plans to effect a reduction in the price of its product with effect from Monday, October 2, 2023.
This is coming ahead of its initial year-end target, in what it said is to spur development in the Nigerian building materials and infrastructure sectors, urging its licensed dealers to also “ensure that end-users benefit from this reduction in ex-factory prices.
A statement by the company said the ex-factory price reduction will initially be to N3,500 per bag “will be a continued process that would follow a periodic review of its operations for efficiency… so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.”
After completion of its ongoing construction of new plants, which would raise its 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.”
In addition, the group assured that “all pending, undelivered orders which had been paid for at the old prices will be reviewed downwards to N3,500/bag in line with the new pricing from October 2, 2023.”
The group said it will monitor field sales to ensure compliance.