There has been a prolonged cement price hike in Nigeria for many months now and the increment has been blamed on manufacturers, the likes of Aliko Dangote and BUA. However, information from the BUA group reveals the main culprits.
The group said it has increased production and reduced price but the effect didn’t impact cement price in the market. Further research shows that, the middlemen are still maintaining high prices despite the changes. Abdul Samad Rabiu, Chairman and CEO of the Group revealed this to State House Correspondents in Abuja.
“I know everybody is talking about the high price of cement in Nigeria. And that is, of course, because we do not have enough capacity. When we started production, the fourth line in Sokoto a few weeks ago, when Mr President was there to commission the plant, we decided to actually reduce the price of cement by N350 per bag. And that is about 10 per cent of the price,” he said