Economy
BUA set to crash cement price in Nigeria
BUA set to crash cement price in Nigeria
By Admin September 16, 2023
The Chairman of BUA Group, Abdulsamad Isyaku Rabiu, has revealed that the company is set to reduce the price of cement in Nigeria.
He disclosed this on Friday while speaking with State House correspondents after meeting with President Bola Ahmed Tinubu.
He revealed that the company would add two new plants at the end of the year or early next year, aimed at supporting the efforts of the government to crash the price of the product.
According to him, the plants to be commissioned by Tinubu, would bring BUA Cement’s total capacity to 17 million metric tons.
This, he said will enable the company to reduce the price of cement to about N3,500 from N5,000 per bag.
He said: “Let me thank His Excellency Mr. President for graciously receiving me today. I came to intimate His Excellency on the affairs of our cement business. We have two new lines of 3 million tonnes each that we will be commissioned by the end of the year.
“So I came to intimate His Excellency and also to explain to him the efforts we’re making in trying to support again the efforts of the government in bringing down the price of cement.
“With this 6 million tonnes that are commissioning by the end of the year. And by the way, His Excellency has agreed to come and commission the plants, sometimes in December or early January next year.
“So I explained to him and we want to support the efforts of the government in bringing down the price of cement. By the time these lines are commissioned, BUA Cement will to be producing about 17 million tonnes per annum. And with that, we intend to bring down the price of cement from its current level of N5000 or N5500 per bag to maybe N3000 to N3500 per bag.
“And we can only do that because we’re producing cement locally. 80% of the raw materials that we’re using to produce cement are in Nigeria. We want to support the government efforts in ensuring that the price of thess commodities are brought down.
“Incidentally, I also saw the Honorable Minister David Umahi, when I was with the with His Excellency, Mr. President, and we agreed to meet so what we’re going to do is by the time we commission these two lines is to announce to Nigerians that the price of cement is going to come down.”
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The Nigerian Customs Service (NCS), Kano/Jigawa Command, has launched the B’Odogwu Data Window System, an indigenous registration portal for shippers, terminal agents, and traders. This system is designed to integrate a unified national data network within the service.
Dalhatu Abubakar, the Area Controller in charge of the Command, officially inaugurated the platform on Tuesday during a training session for terminal operators, traders, and shippers in the Kano and Jigawa Operational Area.
Abubakar explained that the initiative aims to enhance security, improve operational efficiency, and ensure that Customs operations are locally controlled and managed. He revealed that over 16,000 applications had been processed through the B’Odogwu system between January and March 2025.
The Area Controller emphasized that the Nigeria Customs Service (NCS) has shown competence, commitment, and dedication in transitioning from third-party service providers to the B’Odogwu system, which stands for “Reliable Border System.”
He highlighted that the system incorporates new features designed for speed, reliability, transparency, and regulatory compliance.
Abubakar further warned that terminal operators not integrated into the B’Odogwu system would be barred from operating in Nigeria.
“To ensure full compliance, Customs is actively training terminal operators, shippers, traders, and licensed agents to onboard their licences into the system,” he said. “We urge all stakeholders to onboard now, as those who fail to register will lose access once the system is fully implemented.”
“Agents must also register with the Federal Inland Revenue Service (FIRS) as part of the operational regulations,” Abubakar added. “This system promotes compliance, reduces irregularities in agents’ dealings with Customs, and enhances transparency in trade facilitation.”
He assured stakeholders that B’Odogwu operates on an independent network with minimal downtime, ensuring continuous service availability.
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