In a significant show of private-sector support for the federal government’s housing drive, Nigeria’s leading cement producers—BUA Group and Dangote Group—have pledged to maintain a stable price for cement used in all projects under the Renewed Hope housing initiative.
The agreement was announced on Thursday at the Presidential Villa in Abuja, where BUA Group Chairman Abdul Samad Rabiu confirmed that both conglomerates had agreed to freeze cement prices for contractors working on government-backed housing developments. These include the Renewed Hope Cities, Renewed Hope Estates, and the Renewed Hope Social Housing Programme.
Speaking with journalists, Mr. Rabiu revealed that the initiative was originally proposed by Dangote Group President Aliko Dangote, with BUA quickly lending its support.
“Alhaji Dangote reached out to me, and we both agreed that we must do our part to support President Bola Tinubu’s Renewed Hope Agenda. As a result, we are freezing cement prices for all contractors involved in these projects, with no price hikes anticipated for the foreseeable future,” he stated.
The move is aimed at ensuring affordability and continuity in the execution of critical infrastructure and housing programs designed to address Nigeria’s massive housing shortfall. Rabiu praised the Minister of Works, Engr. Dave Umahi, for promoting the use of concrete roads, which he described as more cost-effective and longer-lasting than bitumen alternatives.
To further strengthen this commitment, both companies have agreed to overhaul the Cement Manufacturers Association of Nigeria (CEMAN), the industry’s regulatory body. As part of the restructuring, BUA Cement Managing Director Engr. Yusuf Binji has been appointed as the new chairman of CEMAN. According to Rabiu, Binji will lead efforts to ensure that cement pricing remains stable for all Renewed Hope projects.
“This restructuring will help us coordinate our efforts more effectively and ensure that the cement needed for these projects is accessible and affordable,” Rabiu noted.
In addition to the price freeze, the two industrial giants have pledged to jointly contribute ₦20 billion annually towards the training and development of artisans in the construction sector. The fund is intended to build technical capacity within the industry and equip workers with skills necessary to meet the demands of the national housing program.
Rabiu also disclosed plans to revitalize the Cement Technology Institute, originally established during the era when Nigeria heavily depended on imported cement. The institute will now play a renewed role in supporting the local cement industry and workforce development.
“Our collaboration goes beyond pricing—it’s about creating long-term value, training people, and strengthening Nigeria’s capacity to meet its infrastructure and housing needs,” Rabiu concluded.
This partnership between two of the country’s biggest industrial players marks a notable milestone in aligning corporate responsibility with national development goals.
