In a recent statement to State House Correspondents, Alhaji Abdul-Samad Rabiu, Chairman of the BUA Group, reiterated the company’s commitment to selling cement at the promised price of N3,500 starting from January 2024. Rabiu made this announcement following a meeting with President Bola Tinubu in Lagos.
Addressing concerns about the challenges that may affect the promised price, Rabiu assured that BUA Group would strive to make the product accessible and affordable to customers. He explained that the set price includes the ex-factory cost, VAT, and delivery charges, with variations based on distance and location.
“You know the price that we have set will be N3,500 per bag. You know x factory, of course, plus VAT and then delivered to customers depending on the region,” Rabiu stated. He further elaborated on the logistics of delivery, considering the geographical locations of their factories in Edo and Sokoto states.
Highlighting the company’s expansion plans, Rabiu mentioned the inauguration of the cement company site in Sokoto scheduled for January 2024. He anticipates that this expansion will contribute to meeting market demands, with an estimated combined volume of about six million tonnes per annum.
“And as we all know, the volumes that we will be having will be about six million tonnes per annum combined. And we expect those volumes to have an impact. Though we’re having some issues here and there, but these are issues that I believe we can address and we are addressing them,” Rabiu added.
The chairman’s visit to the President was characterized as a festive felicitation, where Rabiu extended Christmas and New Year wishes. Despite acknowledging challenges, Rabiu expressed optimism about resolving them to ensure the company’s continued success in providing affordable cement to the Nigerian market.
