BUA and Dangote Group Freeze Cement Price to Back Tinubu’s Projects

BUA and Dangote Group Freeze Cement Price to Back Tinubu’s Projects

BUA and Dangote Group have jointly agreed to freeze cement prices on all federal government construction contracts in a bold move aimed at supporting President Bola Tinubu’s Renewed Hope Agenda. The two industry giants say this step will cut building costs, fast-track key infrastructure, and bring real economic relief.

Chairman of BUA Group, Alhaji Abdul Samad Rabiu, announced the decision on Tuesday after meeting President Tinubu at the State House in Abuja. Rabiu revealed that both companies will keep cement prices steady, no matter the rising cost of operations, to show commitment to Nigeria’s development.

“We have decided to freeze the price of cement for any contractor working on the Renewed Hope Agenda projects,” Rabiu stated. “There will be no increase for the foreseeable future.”

The cost of cement in Nigeria has been rising, hitting contractors and developers hard. But Rabiu insists the current N10,000 per bag remains reasonable, even with soaring energy prices and dollar-denominated import costs.

“Even at N10,000 per bag, it is still about $120 per ton, which is in line with international prices,” Rabiu explained. “The dollar rate has affected equipment and spare parts, but we’re taking this step to support the President.”

To ensure this price freeze is effective across the board, Rabiu announced that BUA Cement’s Managing Director, Engineer Yusuf Binji, is now the new Chairman of the Cement Manufacturers Association of Nigeria (CEMAN). His task is to ensure all cement producers comply with the pricing agreement for Renewed Hope projects.

But the efforts go deeper than pricing. BUA and Dangote Group are also helping to revive the Cement Technology Institute of Nigeria (CTIN), a training centre for builders, technicians, and masons. Cement manufacturers will now contribute N20 to N30 per bag to the institute. This contribution is expected to generate N15 billion to N20 billion every year.

Rabiu believes this step is necessary to close the skills gap and boost job creation.

“We are supporting CTIN so we can train and certify the artisans who do the real work on the ground,” he said. “Without skilled people, our sector cannot grow.”

Rabiu also addressed another pressing issue: food prices. He said BUA Foods helped crash the cost of rice, flour, and maize by importing large quantities after the government granted duty waivers on essential food items.

“Rice is now about N60,000 per bag, down from N110,000 last year,” he said. “Flour has dropped to N55,000 and maize to N30,000. These prices came down because of the President’s smart six-month waiver.”

According to Rabiu, food hoarders had been stockpiling local harvests to inflate prices. But BUA’s imports created competition and drove the prices down. The Rice Millers Association has also vowed to stop hoarding and support steady supply throughout the year.

“Now we have enough rice in stock to last until the next harvest,” Rabiu assured. “Farmers will still earn fair prices, but hoarders will no longer hold the market hostage.”

During the meeting, President Tinubu expressed appreciation for the support of BUA and Dangote Group  and asked for continued collaboration with the private sector. Rabiu said the President was pleased with the report and urged cement producers to maintain their commitment.

“Mr President was very satisfied. He said we are on the right path, and we are ready to keep supporting him,” Rabiu added.

The decision by BUA and Dangote Group to hold cement prices steady and invest in local skills training signals a rare show of unity in Nigeria’s private sector. In a time of economic strain, the move shows that businesses can work hand-in-hand with government to deliver real impact.

With cement prices under control and food costs falling, this alliance between industry leaders and the federal government could set a new standard for development partnerships in Nigeria.