BUA Cement, under the leadership of Chairman Abdul-Samad Rabiu, has announced plans to lower the cost of cement across the country.
This announcement was made during the 7th Annual General Meeting (AGM) of BUA Cement, held in Abuja.
Rabiu disclosed that BUA Cement intends to achieve this price reduction by focusing on enhancing the production capacity of its cement-manufacturing facilities.
He explained that the goal is to boost production and thereby contribute to a reduction in cement prices, in line with the government’s economic objectives.
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Rabiu said: “By the end of the year, we intend to have two more production lines on stream which will boost our production capacity by at least 40 per cent to 70 million tons.
“The idea of increasing production capacity is to see how we can be able to drop prices on our part to support the government’s efforts because importation will not be the best solution.
“The average price of cement in Nigeria is N4,500 which translates into N90,000 per ton or $100. So if the government threatens to start importing cement, it will even cost them more because the forex is now high and when you bring it through the ports, you must pay taxes, trucking and other levies which will add to the price.”
