Business
Dangote, BUA Agree to Freeze Cement Prices, Give Reason
In a significant show of support for President Bola Tinubu’s economic recovery agenda, BUA Group Chairman Abdul Samad Rabiu has announced a joint decision with Dangote Cement to freeze cement prices for all Federal Government projects under the Renewed Hope initiative.
Speaking to journalists on Thursday, May 15, after a meeting with President Tinubu at the Presidential Villa in Abuja, Rabiu confirmed that both BUA and Dangote Cement will maintain current cement prices for contractors handling government infrastructure projects. The move is intended to prevent cost escalation and ensure steady progress on key national developments.
“We have decided that we are going to freeze the price of cement for any contractor involved in the Renewed Hope projects,” Rabiu said. “There will be no increase for the foreseeable future. This is our contribution to support Mr. President’s Renewed Hope Initiative.”
The discussion with the President also included efforts by BUA Foods to help stabilize food prices across Nigeria as part of the broader economic recovery plan.
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