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In a significant move that promises to impact the construction industry positively, the Group Executive Director of BUA Cement PLC, Kabir Rabiu, has announced the company’s commitment to reducing the price of cement in Nigeria.
ADULAWO News reports that the decision comes on the heels of a productive meeting between cement manufacturers and the Federal Government to make building materials more affordable for Nigerians.
During a recent visit by the Minister of Works, Dave Umahi, to BUA Cement’s new facility in Kalambiana, Sokoto State, Rabiu revealed plans to adjust cement prices from the current range of N9,000 to N15,000 down to N7,000 to N8,000.
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This pledge, however, is contingent on the logistical dynamics concerning the proximity of markets to BUA’s production plants across the country.
The inauguration of the Kalambiana plant marks a significant milestone for BUA Cement, enabling the company to increase its market supply substantially.
Rabiu disclosed that with the plant’s operation, an additional 165 trucks would be dispatched daily, culminating in nearly 400 trucks of cement entering the Nigerian market each day.
This scale-up in distribution is expected to play a crucial role in stabilizing cement prices nationwide.
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 on a daily basis 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.
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“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 Nigerian economy is back on its feet and is doing so much better than it is doing at the moment.”