Dealers and Customers in Kano state have expressed dissatisfaction over the increase in the price of cement by BUA Cement Plc.
The company has reportedly increased the ex-factory price of its cement product by N200, that is from N2,800 to N3,000 per bag over the weekend, a development that elicited fear in the minds of the people in the state, especially the end-users.
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BUA cement, in various statements issued between April 24 and June 18 this year, had refuted any claims of an increase in the ex-factory price of its cement products by N300 per bag.
However, the recent development had indicated that the company had already increased N200 on a bag of a cement to dealers, causing fears that price of the commodity would soon skyrocket from its present N3,600 to N3, 800.
An investigation conducted in Kano on Wednesday indicated that both cement dealers and customers are in panic that the increase in the price would add to the existing economic hardship on them.
A cement dealer in Kano, Musa Shehu, who sells cement at Sallari Blocks, said he heard about the increase in the price of the commodity but it has not come down to the sellers so far.
According to him, a bag of cement is still sold at N3,550 and N3,600 so far, expressing fear that the increase would soon be effecttive.
He pointed out that the price increase is now at the level of dealers, noting that it would come down to the retailer’s level and would discourage customers from buying it.
Shehu stated that the increase in the price of the BUA cement by N200 would indeed inflict hardship on buyers and sellers altogether, noting that the commodity is now available but if the stock runs out, the price increase would definitely be effective.
