In a move aimed at reducing the financial burden on Nigerians and supporting the government’s efforts, BUA Group, under the leadership of Chairman AbdulSamad Rabiu, has unveiled plans to decrease the price of cement in Nigeria.
Speaking to State House correspondents after a meeting with President Bola Tinubu, Rabiu outlined the company’s intentions. “I came to brief His Excellency on our cement business activities. We have two new production lines, each with a capacity of three million tonnes, which will be commissioned by the end of the year. I also came to explain the steps we are taking to assist the government in bringing down cement prices,” he said.
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Rabiu went on to provide more details about the expansion plans, revealing that the addition of these new cement plants would boost BUA Cement’s total production capacity to 17 million metric tonnes. “Once these lines are operational, BUA Cement will be producing approximately 17 million tonnes annually,” he stated.
This move by BUA Group signifies a proactive step towards making construction materials more affordable for Nigerians. The reduction in cement prices aligns with the government’s objective of decreasing the cost of essential commodities. Cement is a vital component in construction, and a price reduction will positively impact the housing and infrastructure sectors.
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With the commissioning of the new production lines on the horizon, there is optimism that the increased cement supply will help stabilize prices in the market. BUA Group’s commitment to this endeavor is expected to result in a significant reduction in the price of cement to N3,500 per bag. This will ultimately benefit consumers and drive growth in the construction industry.
BUA Group’s efforts to support the government’s initiatives in this area are commendable, reflecting a shared commitment to improving the economic well-being of Nigerians.
As Nigerians await the implementation of these plans, there is hope for a more affordable and accessible construction material market, fostering economic growth and development in the country.
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