BUA Group Chairman has disclosed that the price of its cement will remain at 3,500 per bag going forward into the new year. Speaking to State House Correspondents after paying homage to President Tinubu in his Lagos home for the yuletide, the billionaire industrialist disclosed that it will not increase the price of its products even though there are hints that other manufacturers might tinker with their prices. According to him, BUA cement remains 3,500 Naira per bag plus VAT. There will be no price increase. He however hinted that given the fact that the new Sokoto factory just came on stream, transportation to other parts of the country may change the delivered price. According to him, products manufactured in Sokoto and sold in Sokoto will not be sold in Maiduguri at the same price.
He however emphasized the fact that the company’s new factory would ensure that it has a major say in the way the product is sold nationwide with the additional 6million tons its new factory is adding to the market.
The BUA Chairman has always been at the vanguard of appropriate pricing of his products by ensuring that the prices are pocket friendly. Towards the end of the year, he had singlehandedly forced other producers to take panicky measures by bringing down the price of cement at a time many never believed it was practicable.
To Abdul Samad Rabiu, it was his own way of helping the government and Nigerians to lessen the general hardship caused by the downturn in the economy.