The plan to sell cement at N3,500 per bag was hindered by market forces, according to BUA.
The company provided a clarification following the seven-day deadline issued by two civil society groups to its management, demanding the sale of cement at N3,500 per bag or threatening to picket the company.
In addressing the upcoming picketing of BUA Cement’s office regarding the company’s alleged failure to deliver on its commitment to reduce the price of cement to N3,500, the company asserted that it had indeed honored that promise.
Mr. Timothy Sogbeinde, who oversees Creatives & Visual Identity management at BUA Group, shared that the company had been selling cement at an ex-factory price of N3,500 for several months before discontinuing the offer.
The executive director, Mr Kabir Rabiu said, “we actually sold our cement for three to four months at N3,500. We thought other players in the cement industry would join us in making the price of cement affordable.”
Kabir noted that BUA was unable to maintain the discounted price of N3,500, as the intermediaries and wholesalers prevented the intended recipients, the end-users, from accessing the reduced price.