By Aduragbemi Omiyale
The Chairman of BUA Group, Mr Abdul-Samad Rabiu, has said the company’s cement factory being built in Sokoto State would be inaugurated in January 2024.
Addressing newsmen on Thursday after a visit to President Bola Tinubu in Lagos, he said the new cement plant of BUA Cement Plc, a subsidiary of the group, would significantly improve the supply of the product when it comes on stream next month.
He further disclosed that the organisation would ensure the ex-factory price of a 50kg bag of cement remains at N3,500 to ensure the product is affordable for consumers.
Recall that in October, BUA Cement slashed the ex-factory price of its product to N3,500, though it became a scarce commodity.
But Mr Rabiu said this price would be maintained next month, expressing optimism that the new factory would boost supply and make the product available to many.
“As we all know, the volumes [of the Sokoto factory] 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,” he said.
However, he stressed that the product would be accessible and affordable to customers despite various challenges.
“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,” he said.
The billionaire businessman explained his visit to Mr Tinubu in Lagos was to felicitate with him on the Christmas and New Year festivities.
