BUA to slash cement prices

BUA Cement has announced plans to lower cement prices from NGN5000-5500/bag (US$6.39-7.02/bag) to NGN3000-3500/bag, according to local press reports. AbdulSamad Rabiu, chairman of the BUA Group, said the move is part of the company’s commitment to help reduce the financial burden on the Nigerian population.

With two new lines of 3Mta each due for commissioning by the end of 2023, taking the group’s total cement capacity to 17Mta, the cement producer intends to reduce the price of cement to ensure the commodity is more accessible for the local population. “We can only so that because we’re producing cement locally - 80 per cent of the raw materials that we’re using to produce cement are in Nigeria,” said Mr Rabiu, reports Leadership.