This decision by the company aligns with its earlier commitment to reduce cement prices upon the completion of its new production lines at the end of the year. The aim is to stimulate growth in the building materials and infrastructure sectors.
The reduction in price was expedited following a comprehensive review of operations for enhanced efficiency by the management. BUA Cement emphasized its commitment to making the price reduction accessible to Nigerians even before the completion of its new production facilities.
The company plans to further review prices in the first quarter of 2024 upon finishing the construction of its new plants, which will boost production volumes to 17 million metric tonnes annually.
In response to this price reduction, all pending undelivered orders that were paid for at the previous prices will be adjusted to the new rate of N3,500 per bag, effective immediately. BUA Cement urges its licensed dealers to ensure end-users benefit from this price cut, and they will closely monitor field sales to ensure compliance.
BUA Cement is Nigeria's second-largest cement company and the largest producer in the Northwest, Southsouth, and Southeast regions. It operates strategically from Okpella in Edo State and Kalambaina in Sokoto State, with its headquarters situated in Lagos.
(The news was earlier reported by the Nation news online)
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