Abdul-Samad Rabiu, the Chairman of BUA Group, has reaffirmed the commitment of the company to uphold the selling price of cement at N3,500 per bag starting from January 2024. In an interview with State House Correspondents following a meeting with President Bola Tinubu in Lagos, Mr. Rabiu expressed the company’s dedication to ensuring the accessibility and affordability of the product despite encountering various challenges.
“The price we have set will be N3,500 per bag, ex-factory plus VAT, and then delivered to customers based on the region,” stated Mr. Rabiu. “The distance and location will influence the delivery cost, but we intend to honor our promise.”
Discussing the upcoming inauguration of the new cement plant in Sokoto by January 2024, Mr. Rabiu emphasized its potential to significantly expand the market across the country. “The combined annual volume of about six million tonnes from our Sokoto and Edo factories is expected to have a substantial impact,” he added, acknowledging ongoing issues which the company is actively addressing.
Beyond business matters, Mr. Rabiu’s visit to the President was also to extend his felicitations for the Christmas and New Year festivities. “It is always delightful to see them when they are relaxed. I am pleased to say that his excellency looked very relaxed, well-rested, and also in good spirits,” remarked BUA’s chief.
The announcement from BUA Group underlines their continued effort to uphold transparency and affordability within the cement industry, marking a pivotal development that will ripple across markets nationally.
