BUA Group Chairman Confirms Cement Price at N3,500, Focuses on Market Expansion in 2024

Alhaji Abdul-Samad Rabiu, Chairman of BUA Group, has affirmed the steadfast commitment of the company to maintain the selling price of cement at N3,500 per bag commencing from January 2024.

Speaking to State House correspondents following a visit to President Bola Tinubu at his Lagos country home, Rabiu assured the public of BUA’s dedication to keeping cement accessible and affordable despite prevalent challenges.

“The set price will remain at N3,500 per bag, inclusive of the ex-factory price plus VAT,” Rabiu explained. He further detailed that the cost for delivery to customers varies based on regions, factoring in distances from BUA’s factories in Edo and Sokoto states. He highlighted varying delivery expenses, particularly for transportation over long distances, such as from Sokoto to areas like Lagos, Adamawa, or Maiduguri.

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Additionally, Rabiu disclosed plans for the inauguration of a new cement company site in Sokoto in January 2024, aiming to bolster market expansion nationwide. Anticipating an annual production volume of approximately six million tonnes from these sites, Rabiu emphasized their expected substantial impact on the market. Despite challenges, he reassured that the company is actively engaged in addressing and resolving them.

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Regarding his visit to the President, Rabiu extended warm greetings for the Christmas and New Year celebrations. He noted President Tinubu’s relaxed and refreshed demeanor, expressing satisfaction at witnessing the President in a state of relaxation, well-rested, and in high spirits during the meeting.

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