Four months after BUA Cement Plc promised to reduce the price of cement to N3,500 per 50kg bag, the company has failed to deliver on this commitment. Despite the anticipation and excitement among Nigerians, the price of BUA Cement still stands at the old price of N5,500 in Abuja.
The high price of cement has been a cause for concern for many Nigerians, and the promise made by BUA Cement, as well as their competitor Dangote, to reduce the price provided a glimmer of hope. However, this hope has turned into disappointment as BUA Cement has yet to implement the promised price cut.
Recently, the same company announced this after a meeting with President Bola Tinubu at the State House, Abuja on Friday, September 15, 2023.
Nigerians are now calling on the government to take action against the deceptive practices of business owners who make false promises to consumers. The lack of accountability and transparency in the business sector has become a pressing issue, and citizens are demanding that measures be put in place to prevent such practices in the future.
Speaking to The Guardian, Chief Executive Officer, Iche Construction and Global Services Limited, Engr. Odey Sunday Ogbudu, said: “Before the announcement of the price reduction, we were still buying cement between 3,500 to 4,000 in Abuja.
“It is worth noting that BUA Cement made the announcement of the price reduction following a meeting with President Bola Tinubu at the State House in Abuja. However, the promises made during this meeting seem to have had no effect on the actual market price of BUA Cement.”
A cement vendor located in Jabi, while speaking to The Guardian, confirmed that despite hearing about the promised price reduction, the current price from the distributors remains unchanged.
The vendor said: “This discrepancy between the announced price reduction and the actual price in the market has only added to the frustration of Nigerians who were hoping for relief from the high cost of cement.”
As Nigerians continue to grapple with high living costs and fluctuating prices, the failure of BUA Cement to reduce their prices as promised highlights the need for greater accountability and oversight in the business sector.
Distributors and dealers in Karu, said that the government must take action to ensure that promises made by companies are upheld, and that the welfare of Nigerian consumers is protected.
