The Dangote and BUA groups have agreed to keep the price of cement at a steady price without any increase in the near future for all contractors handling construction projects under the Renewed Hope initiative.
The Renewed Hope projects, which include – Renewed Hope Cities, Renewed Hope Estates, and the Renewed Hope Social Housing Programme among others, are a comprehensive Federal Government initiative designed to deliver affordable and inclusive housing for Nigerians across the country.
Speaking to State House Correspondents at the Presidential Villa, Abuja on Thursday, the chairman of BUA group Abdul Samad Rabiu said that they have decided to support President Bola Tinubu’s initiative on addressing the huge housing deficit in the country.
“We have decided. Alhaji Aliko Dangote of Dangote Cement approached me, and I concurred with him that we should do everything to support Mr President Renewed Hope Agenda, we have decided that we are going to freeze the price of cement for any contractor that is involved with the renewed hope project, or projects,” he noted.
The BUA chairman explained “What it means is that any company or anybody that is involved or that is doing a project that is under the Renewed Hope, the price of cement will be frozen. There will be no increase for the foreseeable future.
“We are doing that to support mister president’s renewed hope initiative. And that is something that Alhaji Aliko Dangote actually proposed. I must say, I must give him credit, and I concur with him. So we have agreed. We are going to do that.
We are going to send out the letter sometime next week to the ministry. And I also want to commend the Honourable Minister of Works, Engineer Dave Umahi, for the initiative he took to ensure that all the roads are concrete. Because concrete roads are more durable. They take much longer, you know, in terms of durability and the price is going to be cheaper than even bitumen,” Rabiu said.
He further said that both companies will continue to support the administration’s initiative and therefore have also agreed
to reconstitute the board of the Cement Manufacturers Association of Nigeria (CEMAN), to drive their resolve.
“Engineer Yusuf Binji of BUA Cement has been appointed as the new chairman of CEMAN so that we ensure that this project that we are doing with the ministry is done quite well.
“So, Engineer Binji is now the chairman of CEMAN, and he is going to push, he is going to drive that agenda to ensure that all the companies that need cement under the Renewed Hope initiative get the cement at a price that will not be increased for quite some time. And this is what we are doing to support his excellency and to support the initiative of the government. We are also reorganizing the Cement Technology Institute.
“And this is an institute that was established many years ago when Nigeria was importing cement and the companies that were importing were paying cement levy,” Rabiu noted.
The BUA chairman also announced that his firm and Dangote have also agreed to set aside N20 billion (about N30 per bag of cement produced) annually, to train artisans in the construction industry.
“This is going to going to support the training of artisans in the construction industry. So a lot of things are happening,” the BUA group chairman said.
