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BUA Cement Plc has announced plans to reduce the price of cement in Nigeria from the present N5,500 to between N3,000 to N3,500.
This was made known by the Chairman of the company, Abdul Samad Rabiu, after a meeting with President Bola Tinubu at the State House, Abuja on Friday, September 15, 2023.
Rabiu revealed the cement company is adding 2 new plants at the end of the year to be commissioned by President Bola Tinubu, bringing BUA Cement’s total capacity to 17 million metric tons.
Speaking on the visit, he said this is part of its own contribution to support the efforts of the Federal Government to bring down the prices of key commodities in the country, adding that this will enable the company to bring down the price of cement to about N3,500 per bag.
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What the Chairman of BUA Cement is saying
Rabiu, while speaking said,
- ”Let me thank his excellency Mr. President for graciously receiving me today, I came to intimate his excellency on the affairs of our cement business. We have two new lines of 3 million tons each that we will be commissioning by the end of the year.
- ”So, I came to intimate his excellency and also to explain to him the efforts we are making in trying to support again the efforts of the government in bringing down the price of cement. With these 6 million tons that we are commissioning by the end of the year and by the way his excellency has agreed to come and commission the plants sometime either in December or January next year. So I explained to him and
- ‘’So I explained to him and we want to support the efforts of the government in bringing down the cost of cement, by the time these lines are commissioned BUA Cement will be producing about 17 million tons per annum and with that we intend to bring down the cost of cement from its current level of N5,000 or N5,500 per bag to may be N3,000 to N3,500 per bag.
- ‘’And we can only do this because we are producing this cement locally, 80% of the raw materials that we are using to produce cement in Nigeria is mainly limestone and gypsum and of course energy is part of it of course we have gas in Nigeria. So we want to support the government, we want to support their efforts in ensuring that the price of these commodities are brought down incidentally.’’
Why should they continue to deceive us. Dangote said so some years ago but d price went up and up. We should do away wt all these cement merchants who are govt parasites. All their companies depend on d govt for survival. Soon he will be asking 4 forex at a giveaway price.
With Dangote,Ibeto ,BUA,and 7 more cement producers licensed by Obasanjo administration given a fair competition by President Tinubu’s administration and with all the raw materials for cement productions extracted from Nigeria, a bag of Cement can come down to N1,000.At N5,800 today,many people will be homeless..
BUA now you’re talking. If Dangote likes let him not also crash prices. Meanwhile, I beg you Mr (Rabiu) to do a price regulation during your modification process across the country. The State of Living is killing the living in the country. The Next commodity should be RICE.
Although we are still waiting for regulation of each prices of products in the country.
I hope this is not one of the usual talks, because we are tired of it.
Nice one
God will help you because when dangote started he promised a lot but now he betrayed Nigerians by increasing the cost of cement and sold it at a cheaper price in other African countries I believe if there’s another competitors he will surely reduce the cost price
For sure
For this country? Wake up from your sleep and tell us you will be increasing the price of your products
Thank you Mr rabiu let the price come down from this September 2023,I hope Portland cement and dangote emulates Bua but at the same time the government should return the licences of these old cement factories like burham cement folawiyo there two does not increase price abnormally as did dangote and elephant cement the two are not helping at all
This is great from a true patriot
This is good development, may Almighty God continue to bless you sir. Thank you sir. Thank you Mr president, i pray other company should support the president for his plan to move Nigeria forward. God bless Nigeria, God bless my state and God bless my family amen.