BUA Cement PLC has announced a significant reduction in the price of its cement product, bringing it down to N3,500 per bag, effective from Monday, October 2, 2023. This price adjustment reflects the company’s commitment to fostering growth within the building materials and infrastructure sectors.

The company made this announcement via a statement posted on its official X (formerly Twitter) page. This move follows discussions between the company’s chairman, Abdul Samad Rabiu, and President Bola Tinubu, where a commitment was made to reevaluate the price of their product.

In their statement, BUA Cement PLC explained, “We refer to our previous statements regarding our intention to lower cement prices upon the completion of our new production lines by the end of the year. This reduction is aimed at promoting development in the building materials and infrastructure sectors.”

The management of BUA Cement Plc expressed its dedication to this price reduction by bringing it forward to October 2, 2023, ahead of their plant expansion completion. As a result, Nigerians can now benefit from this price reduction, even before the new production facilities are fully operational.

The statement also outlined the company’s future plans, stating, “Upon the completion of our ongoing construction projects, which will significantly increase our production capacity to 17 million metric tonnes per annum, BUA Cement PLC intends to conduct a further review of these prices in accordance with our earlier commitments, by the first quarter of 2024.” This move is expected to further contribute to the development of the construction and infrastructure sectors in Nigeria.