*Middlemen making N1000 profit per bag The BUA Group has said that despite its efforts to make cement affordable and available to Nigerians, its efforts have been stifled mainly due to the influence of middlemen and other competitors.   The Chairman and Chief Executive Officer of the Group, Abdul Samad Rabiu, disclosed this to State House Correspondents in Abuja when he visited the President, Major General Muhammadu Buhari (retd.), at the Presidential Villa, Abuja. According to him, the Group had increased cement production and slashed the price by 10 per cent per bag. Still, the impact had not been felt primarily due to the activities of middlemen and other manufacturers who did not make corresponding efforts. According to him, “I know everybody is talking about the high price of cement in Nigeria. And that is, of course, because we do not have enough capacity. When we started production, the fourth line in Sokoto a few weeks ago, when Mr President was there to commission the plant, we decided to actually reduce the price of cement by N350 per bag. And that is about 10 per cent of the price.     “So today, our price is N3,000 or N3,050 ex-factory, yet, that has actually not been reflected in the market, simply because the other two producers have actually not reduced the price of cement, so we’re having a challenge. We are actually in a quagmire now. We are discussing this because what is happening is that we have reduced, but the dealers and the distributors are the ones that are actually making the money. So, it’s a bit of an issue for us.” He added that the Group is holding talks with other cement producers to reduce the price of cement in Nigeria.     Rabiu explained that “If you don’t have the support of all the players, it would not be

    President  Buhari on Friday, 25th February, 2022, received in audience the Board and Management of  BUA Cement PLC led by BUA Group Chairman, Abdul Samad Rabiu.   During the visit, the Chairman of BUA Group, Abdul Samad Rabiu used the opportunity to appreciate the President for his support especially the recent Commissioning of its Sokoto Line 4 Cement Factory. AbdulR Samad Rabiu revealed that BUA Group was currently building more factories in two different parts of the country, which will contribute about six million additional tonnes to cement supply. He added: “Your presence at the commissioning of our Line 4 sends a strong message of commitment to industrialization of our country. Like you often say, we need to add value to what we produce with locally sourced raw materials, and we remain committed to it. We are ready to work with the Federal Government, and all other relevant stakeholders. The consistent effort of the Government in supporting local capacity has helped us a great deal.” The BUA Group Chairman said the support of President Buhari for Nigerian enterprise was unflinching, “and we are encouraged to add more value.” He further thanked the President for what he called his “forthrightness, vision, and passion for Nigeria.” In his own remarks, President Muhammadu Buhari Friday hailed the BUA Group for its strides in narrowing the gap between demand and supply of cement in the country. President Buhari had last month visited Sokoto to commission the Line 4 of BUA Cement, which would ensure further availability of cement, of which Nigeria suffers about three million tonnes deficit. “I want to congratulate you on your success and I thank you for mobilizing senior members of your Group to come and say thank you to me. It is remarkable. What you have done in bridging the gap of cement supply in the country is quite