Gom Mirian
Nigerians on Sunday expressed excitement over the reduction of cement prices by BUA Cement from N5,500 to N3,500 per bag. This is despite having a gloomy independence anniversary to mark the country’s 63rd year as a nation.
The decision by BUA Cement to reduce its cement price is seen as a relief for Nigerians, especially those in the construction industry, as the high cost of cement has impacted significantly on the cost of building and construction in the country.
Reacting to the announcement, m Nigerians took to their social media handles to commend the company for its efforts in making the product affordable for Nigerians.
One Twitter user, @mz_coconut, said, “Good news for Nigeria! BUA Cement has reduced the price of its cement to N3,500 from N5,500 per bag. We hope other cement manufacturers will follow suit. We need more affordable building materials in the country.”
Another Twitter user, @Masiobi, said, “This is great news! BUA Cement has reduced the price of cement to N3,500 per bag. This is the best time to turn my savings into blocks.”
Similarly, on Facebook, many Nigerians also expressed their appreciation to BUA Cement for the reduction in cement price. Some also called on other cement manufacturers to emulate BUA Cement in making cement affordable for Nigerians.
In a statement, BUA Cement said the reduction in cement price was part of its efforts to make cement affordable for all Nigerians.
The company also stated that: “As per the commitment made to reduce prices and following a periodic review of our operation, the management of BUA PLC wishes to announce and inform our esteemed customers, stakeholders and the public that effective October 2, 2023. We have decided to bring price reduction forward. As a result, BUA cement will 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 plant.
“Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17 million 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.”
