BUA Cement has provided insight into the challenges it faced in maintaining a fixed price of N3,500 per 50kg bag of cement nationwide, citing market forces as the primary obstacle.
The clarification came in response to a demand from civil society groups threatening to picket the company if it did not adhere to the fixed pricing plan within seven days.
According to BUA Cement’s executive director, Mr. Kabir Rabiu, the company initially honored its promise and sold cement at the reduced rate for three to four months. However, sustaining this pricing strategy became untenable due to interference from intermediaries and wholesalers.
Rabiu explained that despite BUA’s efforts to make cement more affordable, the intended beneficiaries, the end-users, were unable to access the discounted price as intended.
