{"id":25860,"date":"2021-04-25T18:56:44","date_gmt":"2021-04-25T17:56:44","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=25860"},"modified":"2021-04-25T18:56:44","modified_gmt":"2021-04-25T17:56:44","slug":"bua-to-stakeholders-no-plan-to-increase-cement-price","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/04\/25\/bua-to-stakeholders-no-plan-to-increase-cement-price\/","title":{"rendered":"BUA to stakeholders: No plan to increase cement price"},"content":{"rendered":"<p>BUA Cement Plc has assured stakeholders that there is no plan to increase ex-factory price of the cement.<\/p>\n<p>Ex-factory price means the selling price of a product from the manufacturer\u2019s factory excluding shipping, handling, taxes and sundry costs.<\/p>\n<p>This was contained in a statement released on Sunday by the BUA cement Plc.<\/p>\n<p>The company said it does not intend to increase its price of cement now or in the near future, barring any material and unforeseen circumstances.<\/p>\n<p>The clarification, BUA <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/04\/13\/dangote-reacts-to-reports-of-cement-price-disparity-in-african-countries\/\">Cement<\/a> noted, followed inquiries from stakeholders as to whether it is part of a purported price increase of N300 per bag.<\/p>\n<p>\u201cWhilst we are aware that demand for cement is high with current supply levels not sufficient to meet this increased demand, we do not believe the solution lies in an increase in ex-factory prices of cement \u2013 especially not at this period,\u201d the statement said.<\/p>\n<p>\u201cIt is our strong conviction that any increase in prices of major commodities at a time like this is not right \u2013 whilst Nigerians are still trying to recover from the economic consequences brought about by the covid-19 pandemic \u2013 especially for a product for which all raw materials are locally sourced.<\/p>\n<p>The company said it is aware that there is a huge difference between the ex-factory and retail prices of cement.<\/p>\n<p>It attributed the price disparity to retailers taking advantage of increased cement demand to make maximum profits.<\/p>\n<p>\u201cWe stand by our previous statements that the timing is not right for any increase in the price of major commodities whilst we work towards ramping up our production capacity to ensure that commodities like cement remain accessible and affordable for our consumers,\u201d the company added.<\/p>\n<p>\u201cBUA Cement therefore wishes to restate that it is not a part of the purported increase in cement prices and we once again enjoin and appeal to our distributors, who have been advised, to ensure there are no further arbitrary increases or excessive profit taking in the retail price of cement.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BUA Cement Plc has assured stakeholders that there is no plan to increase ex-factory price of the cement. Ex-factory price means the selling price of a product from the manufacturer\u2019s factory excluding shipping, handling, taxes and sundry costs. This was contained in a statement released on Sunday by the BUA cement Plc. The company said [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":25889,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[6595,6597,6596,2441],"class_list":["post-25860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-bua-cement","tag-cement-prices","tag-ex-factory-price","tag-stakeholders"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>BUA to stakeholders: No plan to increase cement price<\/title>\n<meta name=\"description\" content=\"BUA Cement Plc has assured stakeholders that there is no plan to increase ex-factory price of the cement.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/04\/25\/bua-to-stakeholders-no-plan-to-increase-cement-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BUA to stakeholders: No plan to increase cement price\" \/>\n<meta property=\"og:description\" content=\"BUA Cement Plc has assured stakeholders that there is no plan to increase ex-factory price of the cement. Ex-factory price means the selling price of a\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.withinnigeria.com\/news\/2021\/04\/25\/bua-to-stakeholders-no-plan-to-increase-cement-price\/\" \/>\n<meta property=\"og:site_name\" content=\"NEWS PICKS \u2014 WITHIN NIGERIA\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/withinnigeria\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/SodiqAdewaleChocomilo?mibextid=ZbWKwL\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-25T17:56:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.withinnigeria.com\/news\/wp-content\/uploads\/sites\/5\/2021\/04\/adewale_chocomilo\/2021\/04\/25\/20210425_183634.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"662\" \/>\n\t<meta property=\"og:image:height\" content=\"341\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sodiq Lawal Chocomilo\" 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