Cement: BUA blames middlemen for high prices

The BUA Group has said the impact of an increase in cement production and the slash of the price by 10 per bag is not being well felt because of the activities of middlemen and other competitors who did not make corresponding efforts. The Chairman and Chief Executive Officer of the Group, Abdul Samad Rabiu, […]

The BUA Group has said the impact of an increase in cement production and the slash of the price by 10 per bag is not being well felt because of the activities of middlemen and other competitors who did not make corresponding efforts.

The Chairman and Chief Executive Officer of the Group, Abdul Samad Rabiu, said this while fielding questions from State House reporters after visiting President Muhammadu Buhari at the Presidential Villa, Abuja.

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He said the Group is holding talks with other cement producers to reduce the price of cement in Nigeria, stating that “If you don’t have the support of all the players, it would not be possible.

“We actually thought that by reducing the price of N350 that the other companies would probably follow suit. That has not happened. And we have seen a situation where the price of cement is still high, you know, so, distributors and the dealers are making almost N800 to N1000 per bag.”