Amid the ongoing surge in construction material costs across Nigeria, cement consumers may soon breathe a sigh of relief as BUA Group Plc unveils bold plans to cut production costs by generating its own electricity.
Speaking at the company’s Annual General Meeting (AGM) held at the Transcorp Hilton Hotel in Abuja, Chairman Abdul Samad Rabiu announced that BUA is investing in alternative power sources to reduce its dependence on the national grid and diesel generators, a move expected to translate into more affordable cement prices for Nigerians.
Current Cement Price Overview
The prices of major cement brands remain steep nationwide, with significant regional variations:
1. Dangote Cement
Retail price: ₦9,000–₦10,500 per 50kg bag in most urban markets
Depot/bulk: ₦8,000–₦9,000 per bag
2. BUA Cement
Retail price: ₦8,550–₦11,000 depending on location
Depot cost: ₦5,500–₦7,900 per bag
3. Lafarge / Elephant Cement
Retail price: ₦9,100–₦10,500 per bag, with some dealers charging up to ₦14,000 in high-demand areas
Elephant Supaset: ₦11,000 via selected distributors
Rabiu revealed that BUA Cement’s operating costs are significantly driven by energy consumption, a common challenge for Nigerian manufacturers battling erratic power supply.
To address this, BUA Group has signed a 70MW power agreement with Wartsila OY of Finland to support its Sokoto Line 4 plant, along with an additional 20MW gas-powered deal with Green Power International.
These projects aim to boost energy independence, enhance production efficiency, and most importantly, reduce the final market price of cement products for consumers.
The announcement comes at a crucial time when developers, contractors, and individual home builders are grappling with escalating construction costs. Many Nigerians have been forced to suspend or scale down building projects due to the unpredictable and rising cost of cement.
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