Business
BUA slashes price of cement to N3,500
BUA Cement PLC on Sunday announced the reduction of the price of its cement product to N3,500 per bag starting from Monday, October 2, 2023.
It said the price reduction was in line with its commitment to spur development in the “building materials and infrastructural sectors”.
The company announced the price reduction in a statement posted on its X (formerly Twitter) page.
This development is coming weeks after the company’s chairman, Abdul Samad Rabiu, after meeting with President Bola Tinubu, promised to review the price of the product.
The statement read in part, “We refer to our previous pronouncements regarding our intent to reduce cement prices upon the completion of our new lines at the end of the year, in order to spur development in the building materials and infrastructure sectors.
“As per the commitment made to reduce prices and following a periodic review of our operations for efficiency, the management of BUA Cement Plc wishes to announce and inform our esteemed customers, stakeholders, and the public that effective October 2, 2023, we have decided to bring the price reduction forward. As a result, BUA Cement would now be sold at an ex-factory* price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.
“Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17million metric tonnes per annum, BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.”
-
Osun News4 days ago
Osun Poly Staff Stabbed During Exam Supervision (Photo)
-
Osun News4 days ago
Bank Manager Arrested By Police In Osun Over Alleged N650.8m Fraud
-
Osun News1 day ago
Full list of 22 new federal appointees from Osun state emerged
-
Osun News6 days ago
Gov Adeleke Installed As Asiwaju Of Edeland
-
Metro/Crime1 day ago
Popular Osun Monarch Joins Ancestors
-
News4 days ago
Oyetola’s spokesperson, Omipidan honoured by Kings University
-
Education5 days ago
FG Sets to Empower NYSC Members With Millions Of Naira Each
-
Celebrities3 days ago
Mohbad’s autopsy report presented, reveals cause of his death