Reports from several online blogs suggest BUA Cement, one of Nigeria’s biggest cement companies has increased ex-depot cement prices.
According to some of the reports seen by Nairametrics, BUA cement prices increased from N2,800 per bag to N3,000. This prompted Nairametrics to reach out to sources who provide market intelligence on prices of goods and services.
Nairametrics market survey gathered from sellers of the product reveal there are cases of price increases based on stock levels. A reliable source explained it was as a result of the scarcity of the product in the last one week prompting some sellers to increase the price to take advantage of market forces.
READ: Again, BUA Cement insists ‘NO further increase in cement price’
Another source informed Nairametrics that a bag of BUA Cement now sells for N3,000, the same price as Dangote Cement. Before now, BUA Cement sold at a price lower than Dangote Cement, but with this price increase, both prices appear to be at par.
Nairametrics also reached out to a representative of BUA Cement who via a phone conversation denied there was any price increase and that there are no plans to increase its prices. BUA had previously reiterated it had no plans to increase cement prices amidst the tough economic situation in the country.
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BUA Cement competes directly with Africa’s largest cement maker, Dangote Cement and often trades jabs on prices, market dominance and growth. Some Nigerians view the competition as beneficial, provided it leads to lower cement prices.
BUA Cement has returned 87% increase in share price in the last one year, making it one of the best-performing stocks on the exchange.
The price of dangote cement here in Bauchi is ₦3400 as at last week. Only God knows if it has gone up again. Same price for ashka cement. Those two are what you see here mostly. I am yet to see BUA cement being sold here in Bauchi. They all should take pity on us. From ₦1800 last year to ₦3900 then reduced to ₦3400 now is unbecoming. Help the masses please and reduce prices back to at least ₦2700 to ₦3000.
Good morning, The price of Bua cement in Delta state is #3,900 .per bag .we can’t know exactly what’s happening in our country now.i beg un behave entirely country to reduce it.
Am a seller of this product,I need to upgrade myself to 600 bags or distributor,how can I go about it.