By Dare Balogun, 17th May, 2025
News SOCIETY WATCH following for you : Cement giants Dangote and BUA Group have pledged to maintain stable cement prices for all contractors working on projects under the Federal Government’s Renewed Hope initiative.
The companies have also jointly committed to establishing a N20 billion annual fund equivalent to about N30 per bag of cement sold to train artisans in the construction sector.
The initiative is expected to boost skilled labour capacity and support ongoing housing and infrastructure development efforts.
The two manufacturers are working in tandem to reduce the overall cost of delivering housing under the Renewed Hope Housing Programme.
This includes major projects such as the Renewed Hope Cities, Renewed Hope Estates, and the Renewed Hope Social Housing schemes.
Chairman of BUA Group, Abdul Samad Rabiu, disclosed the plan while speaking with State House correspondents after a meeting with President Bola Tinubu.
Rabiu affirmed the companies’ readiness to back the President’s vision to address Nigeria’s severe housing deficit and improve living standards through affordable housing.
He said: “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.
“What this means is that for 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.”
