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BUA Cement Plc has increased the ex-factory price of its cement product by N200 per bag. The cement manufacturer, it was reliably gathered, unveiled its new price increase from N2,800 to N3,000 per bag over the weekend.

 

The price increase by BUA is contrary to what he has repeatedly asserted that his company does not have any justification to increase the price of cement as it is currently making enough returns.

 

It would be recalled that BUA Cement, in various statements issued between April 24 and June 18 this year, had refuted any claims of increase in the ex-factory price of its cement products by N300 per bag, stating that, “the company had no plans to increase prices of its cement now or in the near future.”

 

According to a statement issued on April 24, 2021, the company stated that, “the solution was not in an increase of ex-factory price at this period.”

 

The company, in its statement, had “reiterated its stand that the timing was not right for any increase in the price of major commodities, especially not at this period whilst Nigerians are still trying to recover from the economic consequences brought about by the Covid-19 pandemic – especially for a product for which all raw materials are locally sourced.”

 

On June 17, 2021, BUA Cement had issued a fresh statement titled ‘No Further Increase in the Price of BUA Cement’ in response to numerous clarification requests from its distributors and the public that the company does not seek to increase the ex-factory price of its cement in the foreseeable future.

 

“We are aware of the feedback and outcry from the public, and the government on the high retail price of cement in a period of economic recovery. BUA is also of the firm belief that the current retail prices of cement are higher than normal, hence our earlier communication not to increase ex-factory prices in the foreseeable future.

 

“As a responsible corporate entity, we refuse and reject associations with any actions that are deemed capable of projecting any industry we operate as a cartel. Hence, whilst we respect that the said company has decided to increase their prices, we are not questioning the reason(s) why, but would like to make clear BUA’s position on a price increase.

 

“The timing is not right for any increase on BUA’s part, and we do not have any justifiable business reason to increase our prices (ex-factory) anytime soon. We therefore urge our distributors not to panic as well as not engage in any arbitrary hike in the retail price of BUA Cement,” the statement read.

 

The increase in the company’s ex-factory price of cement has generated ripples among distributors, retailers and consumers across the country, with many wondering at the sudden change of mind of the manufacturer and this volte-face dishonesty.

 

In a market survey carried out on the price increase, a cement distributor in Kano, Alhaji Sadiq, wondered why BUA Cement changed its cement price, contrary to expectations and its promise. “I don’t understand why BUA did this increase at this particular time. The chairman of BUA, Abdulsamad Rabiu, personally promised us that his company will not increase the price of its cement. Honestly, this is not good for our business and the industry. This is the biggest scam by any major corporate organisation in the history of this country,” he lamented.

 

Another cement distributor based in Asaba, Delta State Sunday Odogwu, expressed anger at the price increase by BUA Cement, despite all his repeated promises of no further increase in the price of BUA cement.

 

According to Odogwu, “BUA told us several times before in their statements to distributors that they are not ready to increase their cement price. The last notice was just last month in June. Why are they doing this now? It is so not fair, and we are disappointed. Our customers will not understand all this and will be blaming us!”

“This shows total disregard and non-adherence to international corporate governance rules and standards. More importantly, his action shows a total disregard and disrespect for his customers, who over the years from their loyalty and patronage of his cement have in no small measure contributed to his business success.

 

“Initially, we believed the management of BUA as having sympathy for the populace. But this current position is not only deceptive but also portrays the organisation as having a hidden agenda in order to smear competition and gain an unfair market advantage over others in the industry”, he added.


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3SC Shock Rangers in 2:2 Draw on Monimichelle Turf in Awka

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Shooting Stars of Ibadan last Saturday afternoon stunned the mammoth crowd at the Awka Township Stadium with a dramatic comeback to a 2-2 draw with Rangers Int’l of Enugu in the Match Day 36 encounter.

 

The two sides played out a goalless draw in the first 45 minutes with Rangers also Flying Antelopes having a number of near goal situations with no much anxious moment in their goal area.

 

Rangers FC broke the deadlock in the 46th minute through Shedrack Asiegbu, just at the resumption of play in the second half and in the 55th minute later through Chidiebere Nwobodo.

 

The Ibadan based side popularly known as Oluyole Warriors fought back through Moses Omoduemuke who scored in the 73rd and 88th minutes.

 

The comeback sent the excited Awka fans into a sudden chill while some of them had to leave the stadium before the final whistle.

 

The enraged fans including some veteran Rangers int’l said the way the team surrendered a comfortable 2-0 lead within 15 minutes called the technical judgment of Coach Abdul Maikaba to question.

 

Nwakaibeya Anene said, the Rangers spirit was already building up in Awka but the draws from their last two games especially when they were winning was a bad to pay fans for their loyalty.

 

“First half was good, we defended very well even when we lost chances to score but the game changed after we scored, our defense collapsed, that was why we conceded the goals.

 

“We even told the coach to play one of our best defenders but he sent him back, the draw was unnecessary, our players were uninspiring,” he said.

 

Reacting to their performance in the game, Isiaka Mutiu said it was a product of determination and belief in God.

 

“It is God, I must be honest with you because we can’t explain; all we know is that we put in every effort we could.

 

“Our general manager told us to believe in ourselves, that everything is possible and thank God we got that all important point.

 

Agoye Olumide, coach of Shooting Stars said the draw was a product from their game in Ibadan last week when Abia Warriors who came back from 0-2 to draw level.

 

He said the Awka stadium pitch also brought out the best in his players as it made for free flowing football.The Stadium was built by popular facility Manager,Monimichelle led by Ebi Moni-luv Egbe.

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Police launch manhunt for Sterling Bank staff for Stealing customers’ N300m

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The Delta State Police Command on Sunday says it has begun search for a female staff of Sterling Bank in Effurun Branch, Delta State for allegedly disappearing with customers’ money to the tune of N300 milion.

 

Police Public Relations Officer in the State, DSP Bright Edafe who confirmed this to our correspondent, said that the suspect, a female staff (name withheld) allegedly defrauded customers of the bank she works in the sum of N300million, adding that the police were seriously looking for her.

 

DSP Bright Edafe said that the female banker was said to have approached some account owners to grant her permission to be using their money for business while she would be giving the customers certain percentage every month, adding that this was not to be as it was discovered last week by one of the customers that the woman stopped coming to work and an attempt to reach her on phone was unsuccessful as her lines were switched off.

 

It was gathered that on getting to her house around Living Faith Church at Water Resources, Effurun where she lived, it was alleged that she had also absconded as one of her colleagues said that the female banker did business with customers’ money with their consent while it backfired when many people she gave money to refused to pay back, a situation that had kept her hiding from the people.

 

Edafe said that the police will do everything possible to arrest her, disclosing that her co-workers denied her whereabouts when the incident happened upon police investigation, adding that there has been palpable tension laced with threats to sack her co-workers who assisted her to ensure that she was allowed to be using the funds when they pleaded with the owners of the money.

 

He also revealed that her husband had been invited for questioning.

 

Kontongs Bello, Police Public Relations Officer, who confirmed this to journalists, said that the suspect is wanted for many cases that bothered on robbery, stealing among others, adding that the police will do everything possible to smoke him from his hideout.

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