Prices of cement in Nigeria may soon be reduced, according to Abdul Samad Rabiu, founder and chairman of BUA Group.

However, the second richest man noted that the current cement price in Nigeria is more favourable than in other African countries.

Rabiu, who spoke during a strategic business partnership agreement and celebrated a 12-year partnership between BUA Group and CBMI of China, noted that with a strengthened naira, prices could decrease further.

He also revealed that the BUA is working towards this goal by adding a fourth production line to its Edo State factory. The new production line, the fourth in Edo and the eighth overall aims to meet increasing domestic and export demands.

The Nation reports that the BUA chairman also reiterated BUA’s commitment to maintaining its position as Nigeria’s second-largest cement producer and contributing to the country’s industrialization.

“This fourth line will produce three million tons per year, with groundbreaking scheduled in the next few days, possibly on Saturday or Sunday,” Rabiu said.

“The new contract to build another line has been signed and will be completed in less than 20 months. We are thrilled and excited about this cooperation with CBMI.”

Rabiu also discussed expanding export opportunities, highlighting the strategic position of BUA’s Sokoto plant for exports to the Niger Republic and Burkina Faso, which has been pivotal in the company’s regional trade strategy.