In a bid to help reduce pains of economic hardship, both Dangote and the BUA group 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.
They also announced the setting up of ₦20 billion (about ₦30 per bag of cement produced) annual funds to train artisans in the construction industry.
BusinessDay gathered that the cement manufacturers are also united to bring down the cost of housing projects under the Renewed Hope Housing projects, which include – Renewed Hope Cities, Renewed Hope Estates, and the Renewed Hope Social Housing Programme among others.
Recall that the current administration had announced that the government will now do more of concrete roads as against the previous situation where Nigeria was using more of asphalt for road construction.
The policy was initiated as part of the comprehensive Federal Government efforts designed to deliver more long lasting road projects as well as affordable and inclusive housing for Nigerians across the country.
Abdul Samad Rabiu, Chairman of BUA group, dropped the hint, while briefing the State House Journalists, after meeting with President Bola Tinubu on Thursday, where he revealed that they have decided to support 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.
“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.”
According to BusinessDay, he disclosed that they will back up their resolve with letters to the ministries, Departments and Agencies of government.
“I will 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 also announced the reconstitution of the board of Cement Manufacturers Association of Nigeria (CEMAN), as part of efforts 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.
“We are also going to support the training of artisans in the construction industry. So a lot of things are happening,” the BUA chairman said.
