Production has begun at Line 5 of BUA Cement’s Sokoto plant. The 3Mta expansion project forms part of the company’s plans to not only expand its production capacity but also bring down cement prices in Nigeria. In October this year BUA lowered its ex-factory cement price to NGN3500 (US$4.55)/bag, with the company announcing plans to review its prices even further in the opening quarter of 2024, reports The Capital.
The new line at Sokoto takes BUA’s total cement production capacity closer to its target of 17Mta, reinforcing its position as the second-largest cement producer in Nigeria. Ahead of BUA is Dangote with over 51Mta of capacity across 10 countries.
In the 9M23 BUA reported a surge in revenue to NGN335.86bn, compared to NGN262.6bn in the same period a year earlier. Over the same timeframe, the company’s profit after tax advanced from NGN74.01bn to NGN76.06bn.
