Dangote, BUA freeze cement prices for FG’s projects

By InstinctBusiness May 19, 2025 0

In a strategic move to cushion the impact of economic hardship and support Nigeria’s infrastructure agenda, Dangote Cement and BUA Group have pledged to freeze the price of cement for all contractors involved in the Federal Government’s Renewed Hope construction initiatives.

The agreement, revealed by BUA Group Chairman Abdul Samad Rabiu after a meeting with President Bola Ahmed Tinubu at the State House on Thursday, is aimed at stabilizing construction costs and accelerating delivery of key housing and road projects.

Rabiu said the price freeze would apply to contractors engaged in Renewed Hope Housing developments, including Renewed Hope Cities, Estates, and the Social Housing Programme. He credited Alhaji Aliko Dangote, Chairman of Dangote Group, for initiating the idea and noted that both groups were aligned in supporting President Tinubu’s Renewed Hope Agenda.

“For any company or individual involved in a Renewed Hope project, the price of cement will remain fixed, with no increases in the foreseeable future,” Rabiu stated. “We are doing this to support Mr. President’s housing and infrastructure initiative.”

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To further reinforce their commitment, the cement giants announced the creation of a N20 billion annual training fund—equivalent to roughly N30 per bag of cement produced—which will be used to upskill artisans in the construction sector.

Rabiu also praised the Minister of Works, Engr. Dave Umahi, for advocating the use of concrete roads, describing them as more durable and cost-effective than bitumen-based alternatives. “We commend the Minister for his concrete road initiative. It aligns with our commitment to long-term, high-quality infrastructure,” he said.

In addition, Rabiu announced the reconstitution of the board of the Cement Manufacturers Association of Nigeria (CEMAN), naming Engr. Yusuf Binji of BUA Cement as the new chairman. The restructuring is expected to strengthen industry coordination on national projects and drive forward collaboration with government ministries and agencies.

The initiative forms part of the Federal Government’s broader effort to provide affordable housing and resilient infrastructure across Nigeria under the Renewed Hope agenda.