Economy
After slashing cement price, BUA ‘silently’ increase sugar, flour, pasta
After slashing cement price, BUA ‘silently’ increase sugar, flour, pasta
By Admin 9, 2023
Days after announcing the reduction of ex-factory price of cement, BUA Group has silently increased prices of foods, particularly a bag of sugar, a bag of flour and a carton of spaghetti, investigation has revealed.
The management of one of the giant cement coy in the country had on October 1 announced the reduction of ex-factory price of the product to N3,500 per bag.
But the announcement was greeted by public outrage as dealers were battling to enlighten the customers that the reduction in price affects only companies that supply the commodity directly from the factory.
However, investigation by this newspaper had revealed that BUA Foods had silently increased prices of its sugar, flour and pasta products.
Our reporter, who went round some shops at the popular Singer Market in Kano state, the biggest grocery market in Northern Nigeria, observed that price of a bag of sugar, flour and a carton of spaghetti had increased by N3,500, N2,000 and at least N1000 respectively.
Checks by this newspaper had shown that while the price of sugar was recently sold at N44,000 per bag, spaghetti N8,100 a carton, and a bag of flour at N32,500, the commodities are now being sold at N47,500, N9,000 and N34,500 respectively.
A dealer of BUA Foods in Kano told our reporter that the increase in prices of the commodities followed immediately after the company announced the reduction of its cement product.
According to the dealer, who preferred to remain anonymous as he was not authorized to speak, they observed the increase in the prices this week.
He confirmed that the price of a carton of IRS Spaghetti, a pasta product of the BUA Foods, is now N9,000 a carton at company price, while it was recently sold at N8,400 a carton, an indication that it could reach up to N10,000 at retail price.
He also said “We have observed the increase this week. Price of a bag of flour has now gone up to N34,500 as against the N31,000 to N32,000 sold last week. About N2,000 has been increased on a bag of flour and it is a company price.
” About sugar, there is no standard price but it is sold up to N48,000 now in the market. It was N44,500 to N45,000 per bag just last week. Somebody told me that he is selling it at N46,500 per bag.
“We have just received the increased from them this week. They normally communicate to use via phone. They will just send us messages if there is any development.
“I also want to tell you that all these prices are company prices,” he stressed.
Our investigation also revealed that price of the commodities had already gone up at retail outlets in the Kano city.
A grocery shop operator, Mustapha at Karkasara are of Tarauni Local Government area, informed our reporter that he sells a bag of 50kg sugar at N49,000 after he supplied it at N47,500 from the dealers.
Another shop operator, Ibrahim Musa in Fagge Local Government said he had observed increment in price of sugar, flour and IRS spaghetti.
According to him, he purchased a 50kg bag of sigar at N48,000, adding that he supplied a bag of flour at N33,000, while IRS spaghetti was N9,100.
He lamented that despite the increment, he is recording low market as according to him, it had taken him about two weeks to finish a bag of flour.
“You know there is no money in the hand of people. Before i purchased this flour, the one supplied last time took almost two weeks before it finished.
“We are recording low market. People are in poverty and the patronage is low. We just thank God and pray for His intervention,” Ibrahim said.
Customers also expressed displeasure over the recent increment of the BUA food products.
Amina Sani, one of the major customers that purchase bags of flour for baking Gurasa, a locally-made staple in Kano, lamented that the price of the product has kept rising anytime.
She said the price is rising day in day out from three years ago, recalling that the price had skyrocketed from just N5,500 per bag.
“Ironically, this price of BUA plower has skyrocketed just three years ago when a bag of flour was just N5,500. The price keep going higher
“I have now bought a bag of flour at N34,500. We therefore call on the BUA company to reduce the price of flour as we heard that he reduced the price of s bag of sugar,” Iyami appealed.
Efforts to reach BUA company proved abortive as a major dealer in the state, who was speaking on behalf of the company said he could no longer speak now.
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The Nigerian Export Promotion Council (NEPC) has launched a pivotal workshop aimed at enhancing the export competitiveness of Nigeria’s gemstone sector.
Speaking at the workshop on Tuesday in Kano, the Executive Director of NEPC, Mrs. Nonye Ayeni, emphasized the importance of transforming Nigeria’s gemstone industry.
“Countries that dominate the gemstone export market do so not because they mine the most, but because they add the most value,” she said,
Represented by the regional coordinator of the agency, Hajiya Amina Abdulmalik, stressed that gemstones in their raw form do not yield the same economic potential as polished, value-added products.
“Nigeria, blessed with a wealth of gemstones such as sapphire, tourmaline, emerald, topaz, garnet, and amethyst, boasts substantial deposits across various states, including Kano and its neighboring regions,” she explained.
Ayeni pointed out that a significant proportion of the country’s gemstones were exported in their rough, unprocessed state, limiting both foreign exchange earnings and job creation.
According to her, the practice, results in other countries capturing the economic value through processing and finishing.
She stressed that the workshop aligns with the NEPC’s strategic campaign, #DoubleYourExports, which calls for a transition from raw mineral exports to processed, certified, and globally competitive finished products.
“This is not just a technical exercise, but an economic strategy to elevate Nigeria’s position in the global gemstone market,” Ayeni said.
Ayeni also highlighted the importance of organized clusters and collaboration between miners, processors, exporters, and financial institutions.
“When miners operate informally and individually, value is lost. But when they work within organized clusters, skills improve, costs reduce, and standards strengthen,” she added.
The NEPC boss also affirmed the Council’s commitment to providing continuous support to the gemstone sector.
Hajiya Amina Abdulmalik, NEPC North-West Regional Coordinator, called for the transformation of Nigeria’s gemstone value chain to meet international standards.
She stressed the importance of miners and artisans acquiring skills to produce high-quality, market-ready gemstones.
Abdulmalik highlighted that the workshop supports NEPC’s mandate to promote non-oil exports and create sustainable livelihoods through value addition.
She said that the training would cover quality management, export documentation, and market access strategies to enhance global competitiveness.
Speaking also, Alhaji Hamza Safiyanu, Commissioner for the Ministry of Solid Minerals and Natural Resources, outlined key strategies for advancing the sector.
He stressed the ministry’s progress through data collection, stakeholder engagement, and policy development.
“We are now focusing on providing artisans miners with opportunities to market their products, a major achievement in our efforts,” he said,
Safiyanu emphasized the need for miners to understand global markets and their sector’s potential.
Speaking also, Alhaji Hamza Safiyanu, Commissioner for the Ministry of Solid Minerals and Natural Resources, outlined key strategies for achieving the sector’s goals.
According to him, the ministry has made significant progress through concerted efforts, including data collection and stakeholder engagement.
He highlighted the importance of policy development and collaborations in advancing the sector.
“We have moved to the next phase of development by involving miners, particularly artisanal miners.
“Our focus is now on creating opportunities for them to market their mined products. This marks a major achievement in our efforts,” he explained.
The commissioner also emphasized the need for artisanal miners to better understand global markets and the potential within their sector.
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Gov. Abba Kabir Yusuf of Kano State has called on Northern states to strengthen collaboration in implementing tax reforms and digital transformation to boost revenue generation and ensure sustainable development.
Yusuf made the call on Wednesday at the second day of 2025 Northern Revenue Conference held in Kano.
The conference, with the theme “Readiness, Reforms, and Digital Transformation,” brought together policymakers, fiscal experts, and revenue administrators from across the northern states to discuss emerging trends in tax administration.
Represented by the Commissioner for Planning and Budget, Alhaji Musa Shanono, the Governor said effective revenue management remained central to good governance and economic growth.
He said his administration had prioritised fiscal reforms and digital innovation to improve transparency, efficiency, and accountability in public finance.
Yusuf commended the Kano State Internal Revenue Service (KIRS) for its progress under the leadership of Dr. Zaid Abubakar, describing it as a model for other states to emulate.
He said the enactment of the 2025 Nigerian Tax Laws had ushered in a new era in the country’s fiscal policy, encouraging states to embrace innovation and technology in tax administration.
Yusuf added, “The new framework compels us to think more strategically, collaborate more effectively and act more decisively.
“We must expand our fiscal frontiers beyond traditional boundaries and harness the potential of the informal sector, SMEs, and the growing digital economy.”
He emphasised integrity and accountability as the foundation of effective governance, saying:
“Integrity is fundamental in whatever we do. When it is missing, energy and intelligence are wasted,” he said.
Also speaking, the Chairman, Kano State Internal Revenue Service (KIRS), Dr Zaid Abubakar, has called on state revenue agencies to embrace digital innovations and institutional reforms to enhance efficiency and transparency in tax administration.
He said the era of manual processes and guesswork in tax administration had passed, stressing the need for precision, digital competence and strong leadership in driving fiscal reforms.
“The 2025 reform agenda requires us to be strategic, data-driven and technology-oriented.
“The era of guesswork in tax administration is over. We must move towards systems that ensure accountability, accuracy and convenience for taxpayers,” he said.
The KIRS Chairman urged participants to use the conference as a platform to share ideas, strengthen collaboration and build networks that would promote a more efficient and taxpayer-friendly revenue system across the northern states.
He reaffirmed the commitment of the Kano State Government to continue investing in digital transformation and capacity building to support sustainable revenue growth and fiscal stability
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Yusuf stated this on Tuesday while declaring open the 2025 Northern Revenue Conference held in Kano.
The conference, with the theme “Readiness, Reforms, and Digital Transformation”, was attended by revenue administrators, policymakers, and fiscal experts from across the Northern states.
Represented by the Commissioner for Planning and Budget, Alhaji Musa Shanono, he said the event was significant to his administration, adding that effective revenue management remained the engine room of governance.
Yusuf said the state government’s programmes and projects across the state would not have been possible without the commitment and efficiency of revenue-generating institutions.
The Governor expressed appreciation for the progress recorded by KIRS under the leadership of Dr Zaid Abubakar, describing it as a model of innovation and transparency in public finance administration.
He stated that the enactment of the 2025 Nigerian Tax Laws marked a new chapter in the nation’s fiscal history, creating opportunities to build a fair, transparent, and digitally driven tax system.
Yusuf said, “This new framework compels us to think more strategically, collaborate more effectively and act more decisively.
“We must expand our fiscal frontiers beyond traditional boundaries and harness the vast potential that lies within our informal economy, SMEs, and the growing digital ecosystem.”
The governor explained that since assuming office in May 2023, his administration had embarked on a vision to build a self-reliant, digitally enabled, and revenue-resilient Kano State.
He said the transformation of the revenue system was made possible through partnerships, reforms, and institutional strengthening of the Kano State Internal Revenue Service.
“According to the latest National Bureau of Statistics (NBS) report, Kano State recorded a 100 per cent increase in Internally Generated Revenue within one year, ranking it among the top-performing states in the country,”
Yusuf said.
The governor also emphasised the importance of integrity and accountability in public service.
He added: “Integrity is fundamental in whatever we do. When it is missing, energy and intelligence are wasted.
$That is what Kano State has enjoyed integrity in governance and public service.”
Earlier, the Chairman of the Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, said the agency remained committed to implementing far-reaching tax reforms and digital transformation aimed at strengthening Nigeria’s fiscal system.
Represented by the Secretary, Joint Tax Board (JTB), Mr Adesokan Olusegun, Adedeji said the conference provided a vital platform for engaging stakeholders.
According to him, it will do provide an ample opportunity to conduct technical reviews of the newly enacted tax laws to ensure smooth transition and implementation across all tiers of government.
“This forum represents a milestone in our collective journey towards building a transparent, technology-driven, and fair tax administration system,” he said.
Also speaking , the Chairman, Kano State Internal Revenue Service (KIRS), Dr Zaid Abubakar, urged state revenue agencies to adopt digital transformation and institutional reforms in line with Nigeria’s evolving tax system.
He said the 2025 reforms required precision, digital competence and bold leadership to enhance efficiency and service delivery, adding that the era of guesswork in tax administration is over.
The KIRS boss urged the participants to use the forum to exchange ideas and strengthen collaboration for a more efficient and taxpayer-friendly system.
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