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BUA has disclosed that its inability to sell cement at N3,500 per bag was hindered by market forces.
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The cement company provided a clarification following the seven-day deadline issued by two civil society groups to its management.
The groups demanded the sale of cement at N3,500 per bag or threatened to picket the company.
Reacting to the threat, BUA stated that it had indeed honoured that promise.
BUA Group Executive Director at Kabir Rabiu said the actually sold cement for three to four months at N3,500.
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“We thought other players in the cement industry would join us in making the price of cement affordable.”
Rabiu noted that BUA was unable to maintain the discounted price of N3,500, as the intermediaries and wholesalers prevented the intended recipients, the end-users, from accessing the reduced price.
According to Timothy Sogbeinde, who is in charge of Creatives and Visual Identity management at BUA Group, the company had been selling cement at an ex-factory price of N3,500 for several months before discontinuing the offer.
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