BUA Cement, Nigeria’s second-largest cement maker, has again assured Nigerians that it won’t further increase the price of cement. This is the second time BUA is reassuring its customers in the past two months.
This was confirmed from a statement it shared on its Instagram page on Friday.
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What BUA Cement is saying about price increase
The statement from BUA Cement read:
“We have been inundated with request from our distributors seeking clarifications as to whether BUA also intends to increase the price of its cement. This is in view of a purported 10% price increase by another major cement manufacturer.
“While we are now aware that the said producer has increased the price of its cement (ex-factory) effective Monday, June 14, 2021, we however wish to state that BUA is not a part of this increase and does not seek to increase the price of its cement (ex-factory) in the foreseeable future.”
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What you should know
In April 2021, BUA debunked claims that it plans to increase the price of cement, according to Nairametrics. This came after reports that the cost of building materials has risen by over 60% in one year.
In the earlier statement by BUA, the company said of cement price increase:
“We are very much aware that there is a huge difference in the ex-factory prices of cement and the retail market prices of cement, which is mostly because of retailers taking advantage of increased cement demand to make maximum profits.
Timing is not right for any increase in the price of major commodities. There are no further arbitrary increases in the retail price of cement.”
BUA, thanks for disassociating self this arbitrary increase in the commodity. Meanwhile the price is still high. What is the root cause of this increase? Government are not helping matter. I will suggest that license should be given to those that are interested in such business. The market should be open for others to come in and let’s see if the price will come down a bit.
They should have stated the factory price of thier cement here instead of keeping silent about it
Great and understanding company. God bless the company real good
Please where is the Cement have you meet the demand of the distributors? We should be realistic in passing information to the public stop the blame game thank you.
We agreed that the company has no reason to increase cement price what is supposed to be cement price now in the market
How much is a bag of bua cement in nigeria?
Company are getting billions of Nara as a profit, still yet commodities price are going higher government are just watching no body is checking the company not to increase price. Because there are paying tax to the government with no delay and must of the business are own by key government. This is one of the elements autocratic leadership.
Pls what have we done on this Nigeria? Dangote and other cement producer have mercy on us , my project since last hAve not completed because of cost of cement in the retailer’s shop, how can poor masses who are struggling to make out small thing in there life build a house with buying a cement #4500 per a bag ? Pls bus send some people to stop this or should put a price of the cement in the bag pls we are begging for this . Thank you
Thanks for not increasing it because it will make it hard for people constructing
It we be more good and sensitive if all cement company can put price on each each bags of cement it will be fine and more legitimate,so everyone we know the price of what he or she wanted to buy if any of them can start doing this I think the country maybe coming to a better and Reliable county, thank you.