Nigerian Tweeps Put Pressure On Africa's Richest Man, Dangote To Emulate Samad Rabiu After Billionaire Businessman Reduced BUA Cement Price To N3,500 Per Bag

Nigerian tweeps have called out Africa's richest man, Aliko Dangote, who is also the President of the pan-African conglomerate, the Dangote Group, to emulate fellow businessman, Samad Rabiu, and reduce the price of cement to N3,500 per bag.

As a gesture of goodwill, the Management of BUA Cement, founded by Rabiu, who is also the chairman of BUA Group, a Nigerian conglomerate concentrating on manufacturing, on Sunday announced the reduction of ex-factory cement price to N3,500 per bag, which he said will take effective from Monday, October 2, 2023.

In the statement that BUA Group published on its X account, the company said that the gesture was in keeping with its previous promise to reduce prices of cement upon the completion of its new lines at the end of the year, in order to spur development in the building materials and infrastructure sectors.

SaharaReporters had reported that BUA Cement didn't stop at slashing the price of cement, it also promised that all pending, undelivered orders which had been paid for at the old prices would be reviewed downwards to N3500/bag in line with the new pricing from October 2, 2023.

BUA Slashes Cement Price To From About N5,000 To N3,500 Per Bag

Image

"Our licensed dealers are also enjoined to ensure that end-users benefit from this reduction in ex-factory prices as we will monitor field sales to ensure compliance," he warned.

The prices of cement across Nigeria rose to N5,000 and above which tremendously increased the cost of building houses amid the current economic crunch ravaging the country with the devaluation of naira and fuel subsidy removal.

However, Nigerian tweeps called out Dangote, asking him to show that he loves Nigeria by emulating his competitor, BUA Cement and reducing the price of Dangote Cement to N3,500 per bag.

Commending BUA Cement, Temitope Ayanbisi (@AyanbisiAT), tweeted: "I wish Dangote can follow suit. Man has benefited more than anyone with Nigerian wealth."

@KenUttih who also commended the management of BUA Cement wrote: "This is huge and we must all appreciate the patriot Mr Abdulsamad Rabiu. This is the first time this is happening without the intent of killing any competitor like has been the practice of the other cement giant. We must stamp monopoly of any kind."

@TENIBEGILOJU202 said, "People are under saying Dangote should do the same. Abegii.

"You don’t need Dangote to do the same, just start buying BUA cement.

"Businesses that care about the masses are worth supporting. That’s the point."

@BilkisAlao, she wrote: "Good one...We're waiting for Dangote and Elephant cement to follow suit."

@_Sufy2, said, "The difference between these billionaire businessmen, Bua and Dangote, is that one of them has empathy, while the other one swiftly debunked the news that his cement price was slashed."

Meanwhile, the Dangote Group on September 25, 2023, denied claims that it had reduced the price of cement to N2,700 per 50-kilogramme bag from N5,500.

The spokesperson for Dangote Group, Anthony Chiejine, said last Monday, that the report was fake. “It is fake news,” he said.