MON, OCT 02 2023-theGBJournal |The management of BUA Group announced Sunday that its cement, the BUA Cement would now be sold at an ex-factory price of 3,500 Naira per, following the commitment it made to reduce prices and following a periodic review of our operations for efficiency.
The price reduction takes effect from today, the company said in the statement to announce the price reduction.
Recall that the conglomerate had in previous pronouncements signified its intent to reduce cement prices upon the completion of their new lines at the end of the year, in order to spur development in the building materials and infrastructure sectors.
BUA however brought the price reduction date forward ” so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants,” the company said.
”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,” BUA said.
It noted that 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.”
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