BUA Cement has revealed why it failed in its initial plan to sell the commodity for a fixed price of N3,500 per 50kg bag across the country.
The company said that the plan was hindered by market forces.
This clarification came following the seven-day deadline issued to the company by two civil society groups, demanding the sale of cement at N3,500 per bag or they would picket the company.
The company asserted that it had indeed honored that promise.
“We actually sold our cement for three to four months at N3,500. We thought other players in the cement industry would join us in making the price of cement affordable,” the executive director, Mr Kabir Rabiu told Leadership.
Kabir 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.
