Dangote finally joins hands with Rabiu to crash cement price

• Dangote and the BUA Group person pledged to frost cement prices for contractors progressive successful the Renewed Hope inaugural to easiness economical hardship
• They volition besides allocate N20 cardinal annually to bid skilled workers successful the gathering assemblage and backmost the government’s program to physique much durable factual roads.
• Additionally, the Cement Manufacturers Association of Nigeria is being reorganised to guarantee creaseless implementation of these commitments, with caller leadership

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Both Dangote and the BUA Group person committed to maintaining the terms of cement astatine the aforesaid level without immoderate aboriginal increases for each contractors managing gathering projects nether the Renewed Hope initiative, to lessen the suffering caused by economical hardship.

Both Dangote and the BUA Group perpetrate to maintaining the terms of cement. Photo Credit: Dangote Group, Bua Group
Source: UGC

Additionally, they declared that N20 cardinal (about N30 per container of cement produced) volition beryllium allocated annually to bid craftspeople successful the gathering sector.

According to accusation obtained by BusinessDay, cement producers person joined forces to little the cost of lodging projects nether the Renewed Hope Housing initiative, which includes the Renewed Hope Social Housing Program, Renewed Hope Cities, and Renewed Hope Estates, among others.

In opposition to the past, erstwhile Nigeria chiefly utilised asphalt for roadworthy development, the existent medication has declared that it volition present physique much factual roads.

The inaugural was launched arsenic portion of the Federal Government’s broader efforts to supply much durable roadworthy improvements and inclusive, affordable lodging for Nigerians nationwide.

The BUA Group’s chairman, Abdul Samad Rabiu, hinted astatine this during a briefing with State House journalists pursuing their gathering with President Bola Tinubu connected Thursday. He said they had chosen to backmost Tinubu’s program to code the nation’s terrible housing shortage.

“We person decided. Alhaji Aliko Dangote of Dangote Cement approached me, and I agreed with him that we should bash everything to enactment Mr President’s Renewed Hope agenda. We person decided that we are going to frost the terms of cement for immoderate contractor progressive with the Renewed Hope task oregon projects,” helium noted. “What this means is that for immoderate institution oregon idiosyncratic progressive successful a task nether the Renewed Hope initiative, the terms of cement volition beryllium frozen. There volition beryllium nary summation for the foreseeable future. “We are doing this to enactment Mr President’s Renewed Hope initiative. That is thing Alhaji Aliko Dangote really proposed. I indispensable springiness him credit, and I concur with him. So, we person agreed to bash this.”

He revealed that they would enactment their determination with letters to the government’s ministries, departments, and agencies.

“I besides privation to commend the Honourable Minister of Works, Engineer Dave Umahi, for the inaugural helium took to guarantee that each roads are concrete. Concrete roads are much durable; they past overmuch longer and the terms volition beryllium cheaper than bitumen,” Rabiu said.

Nigerian billionaires state that N20 cardinal volition beryllium allocated annually to bid craftspeople successful the gathering sector. Photo Credit: Dangote Cement
Source: UGC

To fortify their commitment, helium besides declared that the committee of the Cement Manufacturers Association of Nigeria (CEMAN) volition beryllium reconstituted.

“Engineer Yusuf Binji of BUA Cement has been appointed arsenic the caller president of CEMAN to guarantee that this task we are doing with the ministry is executed properly. “So, Engineer Binji is present the president of CEMAN and helium volition thrust the docket to guarantee that each companies that request cement nether the Renewed Hope inaugural person it astatine a terms that volition not beryllium accrued for rather immoderate time. This is what we are doing to enactment His Excellency and the government’s initiative. We are besides reorganising the Cement Technology Institute.“We are besides going to enactment the grooming of artisans successful the operation industry. So, a batch of things are happening,” the BUA president said.

Tinubu orders reversal successful cement prices of BUA, Dangote, others

Legit.ng reported that president Bola Ahmed Tinubu instructed cement companies to instrumentality to the erstwhile pricing of the commodity.

The curate of Works, Senator David Umahi, announced this to reporters pursuing Thursday's inspection of the BUA cement mill successful Sokoto.

Umahi stated that during a gathering with the manufacturers, the president mandated them to revert to the erstwhile cement price.

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Source: Legit.ng