Abdul-Samad Rabiu paid a special visit to President Bola Ahmed Tinubu in his residence in LagosDuring the visit, the CEO of BUA reassured of its intention to see that cement sold at N3,500 in 2024Rabiu also explained the reasons why some traders are still selling cement above the official price...CONTINUE READING
Nigerian billionaire Abdul-Samad Rabiu, Chairman of the BUA Group, has reassured Nigerians that his cement company will maintain the price of a bag at N3,500 in January 2024.
He gave this assurance while speaking with journalists after visiting President Bola Tinubu on Thursday, December 29, 2023, in Lagos.
He commented on plans for the new year and said the company would also make the product accessible and affordable to customers despite various challenges.
His words:
“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.
“As you know, the factories that we have; one is in Edo, the other one is in Sokoto state. So for example, if you want us to deliver cement to you from Sokoto say to Lagos from Adamawa or to Maiduguri, the distance is quite far.
“So dependent on the distance and dependent on the location. You know the price changes but we intend to keep that promise.”
More promises from Abdul-Samad Rabiu
Rabiu also revealed that the BUA cement company site in Sokoto, which will be inaugurated by January 2024, is expected to expand the market across the country further.
He said:
“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.”
