Economy and Business

BUA insists on maintaining cement price at N3,500 from January

Alhaji Abdul-Samad Rabiu, Chairman of the BUA Group, has insisted that the company would maintain its promise of selling cement at the price of N3,500 from January 2024.

He made the disclosure while speaking with State House Correspondents after a visit to President Bola Tinubu on Thursday in Lagos.

Rabiu said his visit to the President was to felicitate with him on the Christmas and New Year festivities.

“It is always quite good to see them when they are relaxed and you know, I am pleased to say that his excellency looked very relaxed, well rested and also in good spirits,” BUA chief said.

According to Rabiu, the company would also make the product accessible and affordable to customers despite various challenges.

“You know the price that we have set will be N3,500 per bag. You know x factory of course plus VAT and then delivered to customers depending on the region.

“As you know, the factories that we have; one is in Edo, the other one is in Sokoto state. So for example, if you want us to deliver cement to you from Sokoto say to Lagos from Adamawa or to Maiduguri, the distance is quite far.

“So dependent on the distance and dependent on the location. You know the price changes but we intend to keep that promise,” he said.

He said the cement company site in Sokoto, which is expected to be inaugurated by January 2024, will further expand the market across the country.

“And as we all know, the volumes that we will be having will be about six million tonnes per annum combined. And we expect those volumes to have an impact.

“Though we’re having some issues here and there, but these are issues that I believe we can address and we are addressing them.”

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