{"id":107823,"date":"2023-09-16T15:54:16","date_gmt":"2023-09-16T14:54:16","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=107823"},"modified":"2023-09-16T15:54:16","modified_gmt":"2023-09-16T14:54:16","slug":"bua-moves-to-crash-cement-price-to-n3500-after-meeting-tinubu","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/bua-moves-to-crash-cement-price-to-n3500-after-meeting-tinubu\/","title":{"rendered":"BUA Moves To Crash Cement Price To N3,500 After Meeting Tinubu"},"content":{"rendered":"<div id=\"m#msg-f:1777200201405707581\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\" style=\"text-align: justify;\">The Chairman of BUA Group, Abdul-Samad Rabiu, says the company is set to reduce the price of cement in Nigeria.<\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \" style=\"text-align: justify;\">\n<div class=\"clear\">\n<div dir=\"auto\">\nHe disclosed this on Friday while speaking with State House correspondents after meeting with President Bola Tinubu.<\/p>\n<p>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.<\/p>\n<p>According to him, the plants to be commissioned by Tinubu, would bring BUA Cement\u2019s total capacity to 17 million metric tons.<\/p>\n<p>This, he said will enable the company to reduce the price of cement to about 3500 naira per bag.<\/p>\n<p>He said: \u201cLet 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.<\/p>\n<p>\u201cSo I came to intimate His Excellency and also to explain to him the efforts we\u2019re making in trying to support again the efforts of the government in bringing down the price of cement.<\/p>\n<p>\u201cWith 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.<\/p>\n<p>\u201cSo 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.<\/p>\n<p>\u201cAnd we can only do that because we\u2019re producing cement locally. 80% of the raw materials that we\u2019re using to produce cement are in Nigeria. We want to support the government efforts in ensuring that the price of these commodities are brought down.<\/p>\n<p>\u201cIncidentally, 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\u2019re 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.<\/p><\/div>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>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 with State House&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":106710,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-107823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BUA Moves To Crash Cement Price To N3,500 After Meeting Tinubu - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/bua-moves-to-crash-cement-price-to-n3500-after-meeting-tinubu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BUA Moves To Crash Cement Price To N3,500 After Meeting Tinubu - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Chairman of BUA Group, Abdul-Samad Rabiu, says the company is set to reduce the price of cement in Nigeria. 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