Chairman of the board of directors of BUA Cement, Abdul Samad Rabiu, accused middlemen of frustrating his efforts to reduce cement prices to N3,500 per bag.

Speaking at the 8th Annual General Meeting of the company in Abuja, Rabiu stated that the pricing was thwarted by dealers who sold the same product at inflated prices of N7,000 and N8,000 per bag to Nigerians.

He also mentioned the foreign exchange rate, rising costs of operation, and the unwillingness of other manufacturers as part of the reasons the company decided to reverse its N3,500 per bag price.

Responding to the comments of the BUA chairman, Kayode Animashaun, a major distributor of cement in the country, stated that cement manufacturers in the country have deliberately refused to bring down the prices of cement.

He said: "The recent excuse advanced by the chairman of BUA Cement is unacceptable. There is no way dealers would buy at 3,500 and sell at 8,000.

“We understand that gimmick they play most time.

"The big players want to outshine each other and one of the ways they do it is to make statements in the public that are not in tune with the reality on the ground."

Ahmed Magaji, another cement distributor added that: "There is no way dealers would get a bag of cement for 3,500 and sell for 8,000.

"Don’t forget that most of us dealers buy on credit and remit monies when we come for a new stock"