Abdul Samad Rabiu, Chairman of BUA Group, has revealed that Nigerian cement manufacturers have agreed to freeze cement prices for all projects under President Bola Tinubu’s Renewed Hope Agenda.
The move is intended to support the President’s national development vision by making building materials more affordable for contractors involved in the initiative.
Rabiu made the announcement following a meeting with President Tinubu at the State House in Abuja on Thursday. He explained that the agreement was reached in collaboration with other industry leaders, including Alhaji Aliko Dangote of Dangote Cement.
“Alhaji Aliko Dangote approached me, and we both agreed to do everything possible to back the President’s Renewed Hope Agenda,” Rabiu said. “We have decided to freeze cement prices for any contractor working on projects under the Renewed Hope Agenda. This means no price increases for the foreseeable future.”
Rabiu also credited Dangote for proposing the initiative and praised the collaboration among cement manufacturers. He said a formal letter outlining the price freeze would be sent to the Ministry of Works soon.
Additionally, Rabiu commended the Minister of Works, Engineer Umahi, for pushing the adoption of concrete roads as part of the infrastructure plan. “Concrete roads are more durable and cost-effective over time compared to bitumen roads,” he noted, highlighting the long-term benefits of this approach.
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