Economic hardship: BUA reveals price for bag of cement following Tinubu’s directive

The Group Executive Director of BUA Cement PLC, Kabir Rabiu, has made a noteworthy announcement that is expected to have a good effect on the construction industry; the company has committed to bringing down the price of cement in Nigeria.

To lower the cost of building materials for Nigerians, the Federal Government and cement producers recently held a fruitful discussion that preceded this decision.

In Kalambiana, Sokoto State, during a recent visit by Minister of Works Dave Umahi, Rabiu disclosed plans to reduce cement costs from the present range of N9,000 to N15,000 to N7,000 to N8,000.

The commitment, however, is dependent on the practicalities around market accessibility to BUA's manufacturing facilities across the nation.

For BUA Cement, the opening of the Kalambiana plant represents a critical turning point that will allow the company to significantly expand its market supply.

According to Rabiu, once the factory is operational, another 165 trucks will be sent out every day, meaning that every day, about 400 trucks carrying cement will reach the Nigerian market.

It is anticipated that this expansion in distribution will be vital to the national stabilisation of cement prices.

Rabiu, speaking during the minister’s visit, said, “Then we gave a commitment, not only on the pricing but also on additional capacity to go to the market, reassuring that with 165 additional trucks daily from our Sokoto cement allotment, we’re putting almost 400 trucks by day of cement into the market.

“We believe this additional capacity is going to have a serious positive effect on the supply and demand issue in the country, he emphasized.

“We also gave in our commitment that we don’t believe cement should sell more than 7,000 Naira anywhere in Nigeria.

"We will continue to do our best to support this administration, to support Mr President’s agenda in ensuring that the Nigerian economy is back on its feet and is doing so much better than it is doing at the moment."