Toba Owojaiye Reporting
BUA Cement Plc has taken a pioneering step towards invigorating growth in the construction and infrastructure domains as it announced a substantial reduction in its ex-factory cement prices.
This price adjustment is scheduled to go into effect earlier than initially planned, starting from October 2, 2023.
According to the company, the strategic decision to lower prices underscores the company’s steadfast commitment to nurturing progress within the building materials industry.
Recall that BUA Cement had previously expressed its intention to reduce prices following the completion of new production lines, which are slated to become operational by the year’s end.
The management of BUA Cement Plc, in an official statement, expressed their appreciation to customers, stakeholders, and the public as they unveiled this price adjustment. As of October 2, 2023, BUA Cement will offer its cement at an ex-factory rate of 3,500 Naira per bag. This move is poised to provide immediate relief to consumers and developers, enabling them to access cement at more cost-effective rates even before the new production facilities are fully operational.
Furthermore, BUA Cement Plc has outlined its intention to reassess these revised prices in alignment with its prior commitments during the first quarter of 2024, upon the completion of the new production plants. These plants are expected to significantly increase production volumes to 17 million metric tonnes annually.
In a customer-centric approach, the company has also pledged to review all pending and undelivered orders that were previously paid for at the old prices, lowering them to the new rate of N3,500 per bag, effective October 2, 2023.
To ensure the widespread implementation of this price reduction at the retail level, authorized dealers of BUA Cement are encouraged to ensure that end-users benefit from these reduced ex-factory prices, with the company vowing to monitor field sales for compliance.
This initiative by BUA Cement Plc not only underscores their dedication to bolstering economic development but also positions them as a pivotal player in Nigeria’s construction and infrastructure landscape.
Their vision is to make high-quality building materials more accessible to all, and the reduction in cement prices is anticipated to create positive ripples in the construction sector, ultimately driving progress and prosperity within the nation.