Skip to main content

BUA Cement refutes claims of increase in ex-factory price of cement

BUA Cement refutes claims of increase in ex-factory price of cement

The Management of BUA Cement Plc on Sunday debunked claims of a purported increase in the price of its cement by N300 per bag.

The management, in a statement obtained from its verified twitter handle, said the company had no plans to increase prices of its cement now or in the near future.

According to the statement, the company, noting the increased demand for cement, stated that the solution was not in an increase of ex-factory price at this period.

The company reiterated its stand that the timing was not right for any increase in the price of major commodities.

It stated that work was ongoing towards ramping up production capacity to ensure that commodities like cement remain accessible and affordable for our consumers.

“BUA Cement Plc, in the past two days, has been inundated with calls seeking clarification as to whether it is part of a purported price increase of N300 per bag.

ALSO READ: Rising cost of cement

“BUA Cement wishes to inform the public, its distributors, and stakeholders that it has not and does not intend to increase its price of cement now or in the near future, barring any material unforeseen circumstances.

“BUA Cement is very much aware of the fact that there is a huge difference in the ex-factory prices of cement and the retail market prices of cement, which is mostly because of retailers taking advantage of increased cement demand to make maximum profits.

“Whilst we are aware that demand for cement is high with current supply levels not sufficient to meet this increased demand, we do not believe the solution lies in an increase in ex-factory price of cement, especially not at this period.

“It is our strong conviction that any increase in prices of major commodities at a time like this is not right whilst Nigerians are still trying to recover from
the economic consequences brought about by the COVID-19 pandemic.

“BUA Cement therefore wishes to restate that it is not a part of the purported increase in cement prices and we once again enjoin and appeal to our distributors, who have been advised to ensure there are no further arbitrary increases or excessive profit taking in the retail price of cement,” the statement read.

(NAN)

Vanguard News Nigeria

The post BUA Cement refutes claims of increase in ex-factory price of cement appeared first on Vanguard News.


https://ift.tt/3viEj19 by Rasheed Sobowale via Vanguard News Albert Einstein Fools of Fortune
Labels:

Comments

Post a Comment

Popular posts from this blog

How to jump-start Nigeria economy post-COVID-19 Pandemic

Nwali Tochukwu Watching with consternation the fall out of events, actions, and inactions of our Nigerian leaders on mitigating the negative impact of COVID-19 Pandemic disruptions on our social and economic lives. As a young dynamic business and entrepreneurship writer, and author cum small business owner, what came into my mind as we navigate the storms of COVID-19, was a common English phrase Adages, Proverbs, first recorded in Fuller’s Gnomologia, 1732: ‘A stitch in time saves nine’ which was translated to literally, solve the problems right now! Why procrastinating? If we, as a nation wants to break away from past mistakes, and present mistakes, we should hold the bull by the horn right now. And avoid the roads of political expediency. That is exactly what the stitch in time simply stood for. Promptly address issues posed by Coronavirus. By quickly sewing up of a small hole or tear in a piece of material, so saving the need for more stitching at a later date when the whole ha...
2 comments
Read more

Where is Aguleri Located?

Aguleri is a prominent town often associated with the mighty river called Omabala wgiyflows through it. It is home to a lot of great men and women of Anambra Stare - notably Willie Obiano. History had it that it was the cradle of Igbo people established by Eri, son of Had, son of Jacob (you got to read your Bible babe). Where is Aguleri located? It can be foueat the north eastern part of Nigeria. They share boundaries with Kano, Umueri, Anam and Nando httpss://twitter.com/share https://google.com https://www.alexa.com/siteinfo/google.com https://www.quantcast.com/google.com https://sharedcount.com/?url=https://google.com https://www.similarsites.com/site/google.com https://facebook.com https://www.alexa.com/siteinfo/facebook.com https://www.quantcast.com/facebook.com https://sharedcount.com/?url=https://facebook.com https://www.similarsites.com/site/facebook.com https://youtube.com https://www.alexa.com/siteinfo/youtube.com https://www.quantcast.com/youtube.com ...
Post a Comment
Read more

Forum of retired Heads of Service, Permanent Secretaries donate N500,000 to Edo COVID-19 fund

Urges residents to complement govt’s efforts to check spread The Edo Forum of Retired Heads of Service and Permanent Secretaries has donated N500,000 to boost the Edo State Government’s response to check the spread of coronavirus disease (COVID-19) in the state. Chairman of the forum, Mallam Ikhelowa Atalasa Hanson, who made the presentation at Government House, Benin City, said the donation will complement the state government’s effort in deploying resources to fight against the spread of the virus. Ikhelowa said as a body, the retired heads of service and permanent secretaries tasked themselves to support the state government’s unalloyed commitment to protecting Edo people. READ ALSO:  COVID-19: Edo records 60 new cases as govt calls for caution On his part, Vice Chairman of the forum, Sir Xerxes Usiobaifo urged residents in the state to comply with all regulations from Nigeria Centre for Disease Control (NCDC) and the state government, noting that COVID-19 is real. He ur...
Post a Comment
Read more