The Chairman of BUA Group, Abdul-Samad Rabiu, says the company is set to reduce the price of cement in Nigeria.

He disclosed this on Friday while speaking to State House correspondents after meeting with President Bola Tinubu.

Rabiu said to support the efforts of the government to crash the price of the product, the company would add two new plants at the end of the year or early next year.

According to him, the plants to be commissioned by Tinubu, would bring BUA Cement’s total capacity to 17 million metric tons.

This, he said will enable the company to reduce the price of cement to about 3500 naira per bag.

He said: “Let me thank His Excellency Mr. President for graciously receiving me today. I came to intimate His Excellency on the affairs of our cement business. We have two new lines of 3 million tonnes each that we will be commissioned by the end of the year.

“So I came to intimate His Excellency and also to explain to him the efforts we’re making in trying to support again the efforts of the government in bringing down the price of cement.

“With this 6 million tonnes that are commissioning by the end of the year. And by the way, His Excellency has agreed to come and commission the plants, sometimes in December or early January next year.

“So I explained to him and we want to support the efforts of the government in bringing down the price of cement. By the time these lines are commissioned, BUA Cement will to be producing about 17 million tonnes per annum. And with that, we intend to bring down the price of cement from its current level of N5000 or N5500 per bag to maybe N3000 to N3500 per bag.

“And we can only do that because we’re producing cement locally. 80% of the raw materials that we’re using to produce cement are in Nigeria. We want to support the government efforts in ensuring that the price of thess commodities are brought down.

“Incidentally, I also saw the Honorable Minister David Umahi, when I was with the with His Excellency, Mr. President, and we agreed to meet so what we’re going to do is by the time we commission these two lines is to announce to Nigerians that the price of cement is going to come down.”

Julius1995:
You are the only set of people in the world that celebrates, speculation, lies, promises, most of which do not materialize.

9gerian:
To ensure that the people are aware and demand same price when buying.

This is one of the positives of a Tinubu presidency. The man has the respect of all and sundry in driving positive change, if he chooses to.

Hopefully, he is not shielded from the reality on the streets by those surrounding him because that is the biggest problem of any serious minded leadership anywhere in the world- your inner circle.

As a leader, you must have various independent and alternative sources of garnering feedback, else the leader is done for!

9gerian:
Every single candidate has his perceived pros (positives) and cons (negatives).

To mention but a few:

Atiku is liberal and would allow a market driven economy as a Businessman that has shown capacity through his business ventures . His cons include the drama between him and his principal Obasanjo that has since impacted his image to an extent as being very corrupt over privatization. He remains vindicated by the courts though.

Tinubu is also a market inclined expert judging from his antecedents in Lagos. This was his biggest pros because we hear everyone that is important including locally in Nigeria and even Businessmen in India who quickly make pledges accordingly. It is why the stock exchange has been over performing since he became president. That is what I was referring to about the positives of a Tinubu presidency that can be exploited continuously if the ball is not dropped as I referenced his inner circle. However, Tinubu’s cons includes his perceived hold on who becomes governor in Lagos, which is seen purely as godfatherism. Others include the secrecy around some of his past and documents (which could also be a strategy to keep his opponents guessing while he marshals his way to consolidate his victory).

Peter Obi, has the goodwill of being seen as decent, frugal and not tainted with the level of corruption that the other 2 are suspected of (at least until they are both proven guilty). His pros also include his exploits in Anambra educational sector, and perhaps his youthful mien and energy. That he is Igbo is dicey as that could be a pros (good thing) for a much touted Igbo presidency that is somewhat overdue, or a cons when the politicians go their usual route of tribal sentiments using the past as a weapon (they all did this though). However, his major cons includes an unsung performance as governor of Anambra, which is a major one that should have been a pros. Hence it’s difficult for some people (including corporates) to completely place what to expect from Obi on the economic front, which is really the grey area with him.

This is why Tinubu appears and has so far proven to be the most positive choice for the economy as most investors locally and internationally continue to declare. Still not uhuru unless these positives tricks down to the grassroots. This is where the Bua declaration of price slash comes in (indicative of Tinubu’s influence as is now becoming common). We should welcome more of such corporate initiatives to soften the burden of the economy on the masses.

Finally, every scrutiny must remain balanced and neutral to be heard as political opponents will mostly be sentimental, which is within their rights as long as they do not resort to violence, bullying, intimidation or insults.

Shalom!

oyebanji44:
Nigerians know wella that people from divided camp will not like this good news.....

Bobloco:


The Chairman of BUA Group, Abdul-Samad Rabiu, says the company is set to reduce the price of cement in Nigeria.

He disclosed this on Friday while speaking ith State House correspondents after meeting with President Bola Tinubu.


Rabiu said to support the efforts of the government to crash the price of the product, the company would add two new plants at the end of the year or early next year.

According to him, the plants to be commissioned by Tinubu, would bring BUA Cement’s total capacity to 17 million metric tons.


This, he said will enable the company to reduce the price of cement to about 3500 naira per bag.


He said: “Let me thank His Excellency Mr. President for graciously receiving me today. I came to intimate His Excellency on the affairs of our cement business. We have two new lines of 3 million tonnes each that we will be commissioned by the end of the year.

“So I came to intimate His Excellency and also to explain to him the efforts we’re making in trying to support again the efforts of the government in bringing down the price of cement.

“With this 6 million tonnes that are commissioning by the end of the year. And by the way, His Excellency has agreed to come and commission the plants, sometimes in December or early January next year.


“So I explained to him and we want to support the efforts of the government in bringing down the price of cement. By the time these lines are commissioned, BUA Cement will to be producing about 17 million tonnes per annum. And with that, we intend to bring down the price of cement from its current level of N5000 or N5500 per bag to maybe N3000 to N3500 per bag.

“And we can only do that because we’re producing cement locally. 80% of the raw materials that we’re using to produce cement are in Nigeria. We want to support the government efforts in ensuring that the price of thess commodities are brought down.


“Incidentally, I also saw the Honorable Minister David Umahi, when I was with the with His Excellency, Mr. President, and we agreed to meet so what we’re going to do is by the time we commission these two lines is to announce to Nigerians that the price of cement is going to come down.”


https://dailytrust.com/bua-moves-to-crash-cement-price-to-n3500-after-meeting-tinubu/

whizzler:


Until then. How much will retailers sell?

MrAgbako:

Those Igbos brains is fvcked up.
They hate tinubu
They hate dangote


Innoson is an "angel" 😂
Perhaps they would say tinubu should had visited innoson instead😂

Imagine people continually wailing because of the high price of cement and now that something had been done about it are still unhappy because tinubu was the man to get it right and not their failure Obi the Pandora thief 😂🏃

majesticguy:
Crashing the price of cement isn't the issue, increase in haulage costs arising from petrol price hike would always make the price of the commodity high or exorbitant.

The best approach to making cement affordable is to set up cement factories across many zones in the federation as possible. Limestone deposits abound in many states of the country including Abia, Akwa Ibom, Anambra, Bayelsa, Benue, Borno, Cross River, Enugu, Imo, Nasarawa, Ogun and Sokoto. Like Enugu and Anambra could cater for the Eastern region, Cross River for the South South etc. This should be the best approach as to making cement affordable.

MrAgbako:

Those Igbos brains is fvcked up.
They hate tinubu
They hate dangote


Innoson is an "angel" 😂
Perhaps they would say tinubu should had visited innoson instead😂

Imagine people continually wailing because of the high price of cement and now that something had been done about it are still unhappy because tinubu was the man to get it right and not their failure Obi the Pandora thief 😂🏃

shox:
Something wey dem go still deny.

wittywriter:
Welcome development ...but why announce the intent rather than practically implement to announce .SMH.


Wittyness

MrAgbako:

Those Igbos brains is fvcked up.
They hate tinubu
They hate dangote


Innoson is an "angel" 😂
Perhaps they would say tinubu should had visited innoson instead😂

Imagine people continually wailing because of the high price of cement and now that something had been done about it are still unhappy because tinubu was the man to get it right and not their failure Obi the Pandora thief 😂🏃

oyebanji44:
Nigerians know wella that people from divided camp will not like this good news.....