By Adeke Chukwuka
AbdulSamad Rabiu, Chairman of BUA Cement Plc, believes that the completion of the company’s two new factories by the end of the year will lead to a decrease in the price of cement. He shared this optimism during an interview at the company’s seventh Annual General Meeting in Abuja.
AbdulSamad Rabiu revealed that BUA Cement Plc is building two new factories, Obu Line 3 and Sokoto Line 5, which will increase their total capacity to six million metric tonnes. He also pledged the company’s support for the Federal Government’s initiatives to reduce the price of cement in Nigeria.
The Minister of Works, Dave Umahi, plans to engage in discussions with cement manufacturers to lower their product prices.
He expressed his intention during an appearance on the Channels Television programme “Sunrise Daily” due to reports that contractors have raised concerns about the high cost of cement in Nigeria, and the minister aims to compare local costs with potential import costs to address the issue.
The BUA Cement chairman mentioned that the company is increasing production capacity, which is expected to lower cement prices by the end of the year. He defended the current price of cement, explaining that it aligns with import costs and exchange rates.
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