BUA Cement Plc has announced plans to reduce the price of cement in Nigeria from N5,500 to between N3,000 and N3,500 per bag.

The company’s chairman, Abdul Samad Rabiu, made the announcement on Friday, September 15, 2023, after a meeting with President Bola Tinubu at the State House in Abuja.

Rabiu said the company is adding two new plants at the end of the year, which will increase its production capacity to 17 million metric tonnes.

This will enable the company to bring down the price of cement to about N3,500 per bag.

“We want to support the government’s efforts to reduce the price of cement. By the time these lines are put into operation, BUA Cement will be producing about 17 million tonnes annually. With that, we intend to reduce the price of cement from its current level of N5,000 or N5,500 per bag to perhaps N3,000 or N3,500 per bag,” Rabiu said.

He added that the company is able to reduce the price of cement because it is producing it locally using limestone, gypsum, and gas, which are all readily available in Nigeria.