BUA Group Chairman Abdul Samad Rabiu has disclosed that Dangote Group Chairman Aliko Dangote initiated an agreement between major cement manufacturers to stabilize prices for contractors working on President Bola Ahmed Tinubu’s Renewed Hope infrastructure projects....CLICK HERE TO CONTINUE READING.>>
In a recent Channels TV interview, he detailed the collaboration between Nigeria’s cement industry leaders to support government initiatives. “Dangote Cement approached me, and I concurred with him. We decided to freeze the price of cement to anybody that is involved or for any contractor that is involved with the Renewed Hope projects,” Rabiu revealed. “So, what it means is that 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.”
Thank you for reading this post, don't forget to subscribe!He explicitly credited Dangote for spearheading the initiative: “We are doing that to support Mr. President’s Renewed Hope initiative, and that is something that Aliko Dangote actually proposed. I must say and give him credit for that, and I concurred with him. So, we’ve agreed we are going to do that. We are going to send out the letter sometime next week to the ministry.”
He extended praise to the Minister of Works, Engineer Dave Umahi, for infrastructure decisions that align with the cement industry’s capabilities. “And I also want to commend the Honorable Minister, Engineer Umahi, for the initiative he took to ensure that all the roads are concrete roads, because concrete roads are more durable. They take much longer in terms of durability, and the price is going to be, the cost is going to be cheaper,” he stated.
Looking forward, he emphasized continued industry coordination: “But so that is what we’re doing, and we are going to continue to support His Excellency. What we have done also is to reconstitute, you know, the board of the Cement Manufacturers Association of Nigeria, so that we can also drive this resolve.”
The BUA chairman also defended current cement pricing, arguing that despite consumer perceptions, prices remain competitive when considering production costs. He noted that cement prices currently stand at not less than $120 per ton across Africa.
