The company said it would review the reduced prices further.
A Nigerian cement production company,
New price
In a statement on Sunday evening, the company's management said it had now decided to bring the "price reduction forward" in fulfilment of the pledge.
The reduction would now take effect from 2 October, according to the statement which was posted on the firm's official Facebook page.
"As a result,
Before now, BUA cement was sold at between N5,000 and N5,500 per bag in open markets across the country.
Several Nigerians on various social media platforms have expressed their excitement over the development.
More on the way
The
The company said the further review would take place upon completion of ongoing construction of its new plants which would increase the company's production volumes to 17 million metric tonnes per annum.
"All pending, undelivered orders which had been paid for at the old prices will be reviewed downwards to N3,500 per bag in line with the new pricing from
"Our licensed dealers are also enjoined to ensure that end users benefit from this reduction in ex-factory prices as we will monitor field sales to ensure compliance."
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