BUA Group Reaffirms Commitment to Keeping Cement Prices at N3,500 Per Bag in 2024

Alhaji Abdul-Samad Rabiu, the Chairman of BUA Group, has reiterated the company’s pledge to maintain the price of cement at N3,500 per bag starting from January 2024. This assurance comes as part of BUA Group’s efforts to ensure that cement remains accessible and affordable to consumers, despite the challenges faced by the industry.

Speaking to State House Correspondents after meeting with President Bola Tinubu in Lagos, Rabiu emphasized the company’s commitment to delivering on its promise. He explained that the price of N3,500 per bag would apply at the factory level, with additional costs such as VAT and delivery charges varying depending on the region.

With BUA Group’s cement factories located in Edo and Sokoto states, Rabiu highlighted the logistical challenges involved in delivering cement to different parts of the country. He assured that despite these challenges, the company would uphold its commitment to maintaining the set price.

Rabiu also mentioned the upcoming inauguration of a new cement factory site in Sokoto, scheduled for January 2024. This expansion is expected to increase BUA Group’s production capacity to six million tonnes per annum, further strengthening its presence in the market.

While acknowledging the challenges faced by the industry, Rabiu expressed confidence in the company’s ability to address them effectively. He emphasized that BUA Group was working to overcome these challenges and ensure a seamless operation.

In addition to discussing business matters, Rabiu’s visit to the President was also to extend his felicitations for the Christmas and New Year celebrations. He described the meeting as pleasant, noting the President’s relaxed and positive demeanor.

Source: Vanguard News