First Bank

Monday, February 8, 2021

BUA Group CEO Abdul Samad Rabiu Proffers Solutions To Prices Of Cement, Sugar Getting Beyond Common Man


BUA Group Chairman Abdul Samad Rabiu is concerned about the increasing prices of Cement and Sugar, two major commodities he is a major player in confirms.

A Bag of Cement ranges between N3,500 to N4,000 ( Three thousand and five hundred Naira to Four thousand Naira) while that of Sugar plays inside the expanding box of N14,000 to N15,000 ( Fourteen Thousand Naira to Fifteen Thousand Naira).

The Billionaire businessman at a recent media chat explains this shouldn’t be the case taking into consideration the cost and availability of local resources for production.

The king of commerce named the biggest gainer in the recently released Forbes Richest People in Africa disclosed that soaring prices of the commodities have to do with issues of demand and supply.

Why BUA’s Abdul Samad Rabiu Is Named The Biggest Gainer As Forbes Releases New List Of Africa’s Richest People

“The demands are more than supplies and this automatically pushes up the prices, especially when there is a further strain with a shortfall in available stocks when any of the producers run into production hitches” the large-hearted Nigerian who has been at the forefront of the fight against Covid-19 with massive donations – money and materials – to Federal Government and States Governments all over the country explained.

“This Is Not The First Time And Am Happy More Help Is On The Way” El-Rufai Enthused As BUA Extends Huge Support In Sustained Fight Against Covid-19 To Kaduna

The economic force that is unlocking business opportunities in Nigeria – and Africa – and makes it a point of duty to impact the lives of host communities offered solutions by pointing out ways for supplies to meet demands and bring about more affordable prices for consumers.

BUA Cement Boosts Security, Power In Host Community With Donations Of Patrol Vehicles And Transformers

The solutions are that more players need to be encouraged to venture into Cement and Sugar productions to boost supplies and current players work on increasing capacities to be able to ease the tension of the scramble for the products forcing up the price gleaned from the unusual entrepreneur’s summation.

Findings by, however, revealed that while increasing capacities by Sugar and Cement’s producers are within their control, encouraging more hands to come in and boost supply is a matter of government regulation.

The investigation by revealed that there is a government policy, traced to the administration of former President Olusegun Obasanjo, that “discourages” open participation by investors in these vital sectors that affect the daily living of Nigerians.

No comments:

Post a Comment