Former Kaduna Senator, Shehu Sani, has urged Nigerian manufacturers to emulate cement manufacturing company, BUA, by collapsing the prices of commodities.
Making this call in a post on Monday, Sani who commended the cement manufacturers for making the move despite the rising price of dollar said he hoped the move was not a promotion strategy.
“Despite the rise of the dollar, Bua crashed the price of its cement; that is commendable and unprecedented. We hope it’s not promo. I call on our foodstuffs vendors to emulate BUA,” post by Mr Sani read.
politicsNow earlier reported that the management of BUA announced a 30 per cent reduction in the price of Cement.
A statement posted on the verified handle of the company on Sunday, said ex-factory cement price will now be sold at N3,500 per bag effective October 2, 2023.
Chairman of BUA, Abdulsamad Rabiu, had announced last week that the company would reduce the price of cement to between N3,000 and N3,500 after the completion of its new plant, which would increase production volumes to 17million metric tonnes per annum.
But on Sunday, October 1, said it has decided to move forward the reduction to N3,500 ex-factory price.
Until the announcement, the retail price of a 50kg cement sells for N5,200.
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