Dangote Cement and BUA Group have pledged to freeze cement prices for federal contractors and launch a ₦20 billion artisan training fund under the Renewed Hope initiative.
NEWS NG
To support the federal government’s Renewed Hope initiative, Dangote Cement and BUA Group have pledged to freeze cement prices for contractors executing government-backed housing and infrastructure projects.
Speaking to State House correspondents after meeting President Bola Tinubu on Thursday, BUA Chairman Abdul Samad Rabiu revealed that both firms had agreed to stabilize pricing and support national development goals.
“We have decided… to freeze the price of cement for any contractor that is involved with the Renewed Hope project or projects,” Rabiu said.
The manufacturers also announced a ₦20 billion annual fund, derived from ₦30 per bag produced, to train construction artisans.
Rabiu credited Aliko Dangote for initiating the idea and praised Minister of Works Dave Umahi’s push for concrete roads.
To strengthen implementation, Engineer Yusuf Binji of BUA Cement was appointed chairman of the Cement Manufacturers Association of Nigeria (CEMAN).
Rabiu added, “We are also reorganising the Cement Technology Institute to support these efforts and ensure execution excellence.”