Nigeria’s construction industry is in for a major boost as BUA Cement Plc, one of the country’s leading cement producers, has made a significant move to reduce the price of its cement. Starting from October 2, 2023, BUA Cement will sell its product at an ex-factory price of just N3,500 per bag. This announcement comes as a welcome development for builders and developers across Nigeria.
The decision to lower cement prices is a clear demonstration of BUA Cement’s commitment to supporting the growth of the building materials and infrastructure sectors within Nigeria. This proactive step is taken ahead of the anticipated completion of BUA Cement’s new production lines, set to be commissioned by the end of this year. These new lines will substantially increase the company’s production capacity to an impressive 17 million metric tonnes per annum.
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In its official statement released on October 1, BUA Cement Plc also declared its intention to conduct a further review of prices once the new production plants become fully operational, a milestone expected to be achieved in the first quarter of 2024. This signifies the company’s dedication to ensuring that Nigerians continue to have access to affordable cement for their construction projects.
In a customer-centric move, BUA Cement has announced that all pending, undelivered orders that were previously paid for at the higher prices will now be adjusted to the new rate of N3,500 per bag, effective from October 2, 2023. This customer-friendly approach aims to ease the financial burden on builders and ensure fairness.
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To ensure that this price reduction benefits end-users, BUA Cement has called upon its licensed dealers to play their part. The company is committed to actively monitoring field sales to ensure compliance with these new pricing measures.
The reduction in cement prices by BUA Cement Plc is expected to have a positive impact on the construction and infrastructure development sectors in Nigeria. It will make cement more accessible and affordable for builders and developers across the nation, thereby contributing to the growth of these crucial industries.
Source: The Guardian.
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