BUA Cement Plc, led by Chairman Abdul Samad Rabiu, has unveiled plans to reduce the price of cement in Nigeria from the current N5,500 to a range of N3,000 to N3,500 per bag. The announcement follows a meeting between Rabiu and President Bola Tinubu, where Rabiu revealed the company’s intent to commission two new plants by year-end, increasing BUA Cement’s total capacity to 17 million metric tons. Rabiu emphasized that this move is part of their contribution to support the federal government’s efforts in reducing the prices of essential commodities in the country.
Abdul Samad Rabiu stated, “By the time these lines are commissioned, BUA Cement will be producing about 17 million tons per annum, and with that, we intend to bring down the cost of cement from its current level of N5,000 or N5,500 per bag to maybe N3,000 to N3,500 per bag.”
President Tinubu Commends BUA Cement’s Efforts to Lower Cement Prices
Following a meeting with Abdul Samad Rabiu, Chairman of BUA Cement Plc, President Bola Tinubu expressed appreciation for the company’s efforts to lower cement prices in Nigeria. Rabiu disclosed that BUA Cement plans to commission two new plants by year-end, increasing its total capacity to 17 million metric tons. The chairman highlighted that this expansion would enable BUA Cement to bring down the price of cement from the current range of N5,000 to N5,500 per bag to about N3,000 to N3,500 per bag, supporting the government’s goal of reducing the cost of essential commodities.