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BUA Cement Chairman Expects Price Reduction as New Factories Near Completion

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BUA Cement Chairman Expects Price Reduction as New Factories Near Completion

Abuja, Nigeria – AbdulSamad Rabiu, the Chairman of BUA Cement Plc, has expressed confidence that the imminent completion of the company’s two new factories by the end of the year will lead to a significant reduction in the price of cement. This announcement came during an interview held on the sidelines of the company’s seventh Annual General Meeting in Abuja.

The two upcoming factories, namely Obu Line 3 and Sokoto Line 5, are set to provide BUA Cement with a combined production capacity of six million tonnes. This substantial increase in manufacturing capabilities is expected to have a positive impact on cement prices in the Nigerian market.

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Mr. Rabiu also emphasized BUA Cement’s commitment to supporting the Federal Government’s initiatives aimed at driving down cement prices within the country. The Minister of Works, Dave Umahi, recently declared his intentions to engage in discussions with cement manufacturers to explore opportunities for reducing the prices of their products.

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Speaking on the Sunrise Daily television program on Channels Television, Minister Umahi raised concerns about the high cost of cement in Nigeria, with contractors voicing their grievances. These contractors argue that importing cement might prove to be a more cost-effective alternative.

“I’m going to be running figures with them (cement manufacturers) to check the cost of cement if we import it and the cost they are giving us here,” Minister Umahi explained.

The completion of the Obu Line 3 and Sokoto Line 5 factories aligns with BUA Cement’s commitment to meeting the growing demand for cement within Nigeria while simultaneously working to make the product more affordable for consumers.

As the Nigerian government and industry stakeholders collaborate on strategies to lower cement prices, BUA Cement’s expansion efforts are poised to play a pivotal role in reshaping the cement market, offering hope for more accessible and cost-effective construction materials in the near future.

Source: https://punchng.com/bua-plans-to-lower-cement-prices

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