By Ken Afor
Nigerians on X, formerly known as Twitter, have called out Africa’s richest man Aliko Dangote to emulate his competitor Abdul Samad, founder and chairman of BUA Group, following the latter’s reduction of his cement price.
On Sunday, BUA Cement Plc, announced a reduction of its ex-factory price of cement from N5,200 to N3,500 per bag.
The company said in a statement that Nigerians can begin to enjoy the benefits of the price reduction before the completion of its plants.
The new price regime will take effect from Monday, October 2, 2023.
The company said that, “As a result, BUA Cement would now be sold at an ex-factory price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.
“Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17 million metric tonnes per annum, BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.”
It added that all pending, undelivered orders which had been paid for at the old prices would be reviewed downwards to N3500 per bag in line with the new pricing from October 2, 2023.
“Our licensed dealers are also enjoined to ensure that end-users benefit from this reduction in ex-factory prices as we will monitor field sales to ensure compliance,” it said.
Meanwhile, Nigerians in reaction to the news have urged Dangote to follow suit.
Temitope Ayanbisi (@AyanbisiAT), tweeted: “I wish Dangote can follow suit. The man has benefited more than anyone with Nigerian wealth.”
Also, @KenUttih who lauded the management of BUA Cement wrote: “This is huge and we must all appreciate the patriot Mr. Abdulsamad Rabiu. This is the first time this is happening without the intent of killing any competitor like has been the practice of the other cement giant. We must stamp out monopoly of any kind.”
Another user, @TENIBEGILOJU202 said the move by BUA Cement to reduce its price is proof he cares for the masses.
The user said, “People are saying Dangote should do the same. Abegii. You don’t need Dangote to do the same, just start buying BUA Cement.
“Businesses that care about the masses are worth supporting. That’s the point.”
Also, @BilkisAlao, wrote: “Good one…We’re waiting for Dangote and Elephant cement to follow suit.”
