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BUA Cement Plans to Reduce Cement Price in Nigeria From N5,000 to N3,500 Per Bag

BUA Cement Plc, one of the leading cement manufacturers in Nigeria, has unveiled plans to slash the price of cement from the current N5,500 to between N3,000 – N3,500 per 50kg bag.

This announcement was made by the Chairman of BUA Cement, Abdul Samad Rabiu, after a meeting with President Bola Tinubu at the State House in Abuja on Friday, September 15, 2023.

Rabiu revealed that the company is adding two new cement plants by the end of 2023 which will be commissioned by President Tinubu. This will bring BUA Cement’s total production capacity to 17 million metric tons per year.

The new plants and increased capacity will enable BUA Cement to significantly reduce cement prices for Nigerian consumers to around N3,500 per bag, according to Rabiu.

Key Highlights:

  • BUA Cement to add 2 new cement plants by the end of 2023, increasing total capacity to 17 million tons
  • New plants to be commissioned by President Tinubu in December 2023/January 2024
  • Increased local production will allow BUA to cut cement prices to N3,000 – N3,500 per bag
  • 80% of raw materials used are sourced locally, including limestone and gypsum
  • Move aims to support the government’s efforts to lower commodity prices in Nigeria

The chairman explained that increased local production using raw materials sourced in Nigeria will make the price reduction feasible for the company. He reiterated BUA Cement’s commitment to supporting the government’s efforts to bring down key commodity prices in the country.

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