The Chairman of BUA Cement, Alhaji AbdulSamad Rabiu has revealed that their company sold over a million tons of cement to dealers at a regulated price of N3,500 per bag in an effort to lower costs for consumers. However, the company has recently been notified that the dealers have been selling the cement to consumers at an unregulated prices ranging from N7,000 to N8,000.
He said that BUA Cement was unable to regulate the dealers as it lacked control over pricing in the open market. As a result, the company has discontinued this pricing policy.
He then advised the Federal Competition and Consumer Protection Commission @FCCPCNigeria to step in regulating prices of cement in the country since their company can not regulate prices to dealers .
He said BUA Cement’s original intention was to make cement more affordable for Nigerians, the Commission should intervene and ensure that the consumers (Nigerians) benefit from this initiative as intended.
