Eric Patrick
Leading cement manufacturers, Dangote Group and BUA Group, have pledged to stabilise cement prices for all contractors working on projects under the Federal Government’s Renewed Hope Agenda.
In a bid to support affordable housing and infrastructure development, the companies also announced plans to jointly establish a N20 billion annual fund—equivalent to about N30 per bag of cement sold—to train artisans in the construction sector.
Chairman of BUA Group, Abdul Samad Rabiu, revealed this on Friday while addressing State House correspondents after a meeting with President Bola Ahmed Tinubu at the Presidential Villa, Abuja.
Rabiu stated that the initiative aims to bolster skilled labour capacity while reducing the overall cost of delivering key government-backed housing projects. These include the Renewed Hope Cities, Renewed Hope Estates, and the Renewed Hope Social Housing Schemes.
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“We have decided—Alhaji Aliko Dangote of Dangote Cement approached me, and I agreed—that we must support Mr President’s Renewed Hope Agenda,” Rabiu said. “We are going to freeze the price of cement for any contractor involved in the Renewed Hope projects. There will be no increase for the foreseeable future.”
He emphasised that the move demonstrates the private sector’s commitment to addressing Nigeria’s housing deficit and improving citizens’ living standards.
Rabiu also credited Dangote for initiating the idea, adding, “That is something Alhaji Aliko Dangote actually proposed. I must give him credit. And I concurred. So, we have agreed to go ahead with it.”
The collaboration between the two industry giants is expected to make a significant impact on the affordability and speed of government housing initiatives across the country.