BUA Cement’s Chairman, Abdul Samad Rabiu, recounted the company’s failed effort to sell cement at N3,500 per bag, intended to benefit consumers. Despite selling over a million tons at this price, dealers took advantage, reselling at N7,000 to N8,000 per bag. BUA eventually discontinued the policy as it was unsustainable, especially with naira devaluation and fuel subsidy removal impacting costs. Rabiu emphasized the company’s efforts to keep cement prices stable despite economic pressures, noting increased production costs due to rising exchange rates and energy expenses.
