BUA Cement Plc has announced that it will be reducing its ex-factory* cement prices to an astonishingly affordable N3,500 per bag effective October 2, 2023.
Gatekeepers News reports that in a statement on their official X account, the company emphasised that the move is aimed at “spurring 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.”
BUA Cement Plc also noted that as construction projects expand, there are plans for further price reviews in line with their earlier commitments. The company intends to revisit prices by the first quarter of 2024.
“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.”
In a clear demonstration of fairness, BUA Cement also assures customers with pending orders paid at the old prices, that their orders will be adjusted downward to the new price and urged licensed dealers to ensure the new price is passed on to end-users.
“NOTE: all pending, undelivered orders which had been paid for at the old prices will be reviewed downwards to N3500/bag in line with the new pricing from October 2, 2023. Our licensed dealers are also enjoined to ensure that end-users benefit from this reduction in ex-factory prices as we will monitor field sales to ensure compliance.”
Ex-factory price refers to the price at which the product leaves the factory, excluding additional costs like transportation or distribution fees.
