BREAKING: BUA Crashes Cement Price To N3,500 Per Bag

Image: Intel Region

BUA Cement Company has officially declared a significant reduction in the price of cement, slashing it from N4,800 to N3,500 per 50kg bag.

This price adjustment was communicated via an official statement posted on the company's official X handle. BUA Cement has emphasized that this price reduction aligns with their earlier commitment to decrease cement prices once new production lines are completed by the end of the year. This strategic move aims to invigorate growth in the building materials and infrastructure sectors.

The new ex-factory price of N3,500 per bag takes immediate effect, granting Nigerians access to lower prices even before the new production plants are finalized. With the ongoing construction of these new facilities set to elevate production volumes to 17 million metric tonnes annually, BUA Cement intends to conduct further price reviews in accordance with prior announcements by the first quarter of 2024.

The statement additionally assures that any outstanding, unpaid orders placed at the previous prices will be adjusted to the new rate of N3,500 per bag starting from October 2, 2023.

Licensed dealers are strongly encouraged to ensure that the benefits of this price reduction reach end-users, and rigorous monitoring will be in place to ensure compliance in field sales operations.

See the letter:

Image: BUA

See the post:

BUA Cement reduces ex-factory cement prices to N3,500/bag effective October 2, 2023.
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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… pic.twitter.com/3QBhOYJtpS

— BUA Cement (@BUACement) October 1, 2023

Source: intelregion.com

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