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BUA Cement Plc has introduced plans to scale back the value of cement in Nigeria from the current N5,500 to between N3,000 to N3,500.
This was made identified by the Chairman of the corporate, Abdul Samad Rabiu, after a gathering with President Bola Tinubu on the State Home, Abuja on Friday, September 15, 2023.
Rabiu revealed the cement firm is including 2 new crops on the finish of the yr to be commissioned by President Bola Tinubu, bringing BUA Cement’s complete capability to 17 million metric tons.
Talking on the go to, he mentioned that is a part of its personal contribution to assist the efforts of the Federal Authorities to deliver down the costs of key commodities within the nation, including that this can allow the corporate to deliver down the value of cement to about N3,500 per bag.
What the Chairman of BUA Cement is saying
Rabiu, whereas talking mentioned,
- ”Let me thank his excellency Mr. President for graciously receiving me right this moment, I got here to intimate his excellency on the affairs of our cement enterprise. We’ve two new strains of three million tons every that we are going to be commissioning by the tip of the yr.
- ”So, I got here to intimate his excellency and in addition to elucidate to him the efforts we’re making in making an attempt to assist once more the efforts of the federal government in bringing down the value of cement. With these 6 million tons that we’re commissioning by the tip of the yr and by the way in which his excellency has agreed to return and fee the crops someday both in December or January subsequent yr. So I defined to him and
- ‘’So I defined to him and we wish to assist the efforts of the federal government in bringing down the price of cement, by the point these strains are commissioned BUA Cement shall be producing about 17 million tons every year and with that we intend to deliver down the price of cement from its present degree of N5,000 or N5,500 per bag to could also be N3,000 to N3,500 per bag.
- ‘’And we are able to solely do that as a result of we’re producing this cement regionally, 80% of the uncooked supplies that we’re utilizing to provide cement in Nigeria is principally limestone and gypsum and naturally power is a part of it in fact we’ve fuel in Nigeria. So we wish to assist the federal government, we wish to assist their efforts in guaranteeing that the value of those commodities are introduced down by the way.’’
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