- BUA Group Chairman announces a new cement price of N3,500 per bag starting January 2024.
- Despite challenges, the company aims to make the product accessible and affordable to customers.
- Inauguration of a new cement site in Sokoto by January 2024 expected to expand the market with a production capacity of six million tonnes per annum.
Alhaji Abdul-Samad Rabiu, Chairman of the BUA Group has revealed when the company will start selling cement at N3,500 per bag.
Speaking with State House Correspondents after a visit to President Bola Tinubu on Thursday in Lagos, Rabiu revealed the new price will take effect from January 2024.
He said the company would also make the product accessible and affordable to customers despite various challenges.
“You know the price that we have set will be N3,500 per bag. You know x factory of course plus VAT and then delivered to customers depending on the region.
“As you know, the factories that we have; one is in Edo, the other one is in Sokoto state. So for example, if you want us to deliver cement to you from Sokoto say to Lagos from Adamawa or to Maiduguri, the distance is quite far.
“So dependent on the distance and dependent on the location. You know the price changes but we intend to keep that promise,” he said.
Rabiu added that the cement company site in Sokoto that would be inaugurated by January 2024 is expected to further expand the market across the country.
“And as we all know, the volumes that we will be having will be about six million tonnes per annum combined. And we expect those volumes to have an impact.
“Though we’re having some issues here and there, but these are issues that I believe we can address and we are addressing them.”
Rabiu said his visit to the President was to felicitate with him on the Christmas and New Year festivities, adding that it was a pleasant one.
