BUA and Dangote Cement Agree to Freeze Cement Prices for Federal Government Projects in Support of President Tinubu’s Renewed Hope Agenda

 

In a powerful show of support for President Bola Ahmed Tinubu’s efforts to revive and stabilize Nigeria’s economy, two of the country’s biggest industrial giants—BUA Group and Dangote Cement—have joined forces to take a significant step that could ease the cost of infrastructure development across the nation.

On Thursday, May 15, the Chairman of BUA Group, Alhaji Abdul Samad Rabiu, revealed that both his company and Alhaji Aliko Dangote’s Dangote Cement have reached a groundbreaking agreement to freeze the price of cement specifically for contractors working on Federal Government projects that fall under President Tinubu’s Renewed Hope Initiative.

This announcement came shortly after a high-level meeting between Abdul Samad Rabiu and President Tinubu at the Presidential Villa in Abuja. During their conversation, they not only touched on the state of the construction sector, but also discussed ongoing efforts by BUA Foods to bring down the soaring prices of food items across the country—another key component of the President’s broader economic recovery plan.

Speaking with journalists after the meeting, Rabiu shared insights into the agreement that was reached with fellow industrialist Aliko Dangote. According to him, the decision to freeze cement prices is a deliberate effort to stop the rising costs of construction materials, which has been a major challenge for infrastructure projects nationwide.

“We have decided that we are going to freeze the price of cement for any contractor involved in the Renewed Hope projects,” Rabiu stated.
“There will be no increase for the foreseeable future. This is our contribution to support Mr. President’s Renewed Hope Initiative.”

This means that, at least for the time being, the price of cement supplied to government-backed infrastructure projects such as roads, housing, bridges, and other development efforts will remain stable, even if market conditions change. This could help contractors manage their budgets more effectively and ensure that important public works are completed on time and within cost.

The cement price freeze is especially important considering how inflation and rising material costs have been affecting the construction industry. By keeping cement prices steady, both BUA and Dangote Cement are helping to cushion the effects of inflation on critical government projects—and ultimately, on the Nigerian people.

The move has been widely seen as a patriotic gesture and a rare example of private sector collaboration aimed at directly supporting government policy. It also sends a strong message to other industry leaders: that corporate Nigeria has a role to play in solving the country’s economic problems.

This is not the first time Abdul Samad Rabiu has shown commitment to national development. Through various philanthropic and industrial initiatives, the BUA boss has continually demonstrated that Nigerian businesses can be both profitable and impactful—especially in times of national need.

With the cement price freeze now in place, all eyes will be on the implementation stage to ensure that contractors working on Renewed Hope projects actually benefit from the gesture—and that the savings ultimately translate into real progress on the ground.

As President Tinubu continues to push his economic reforms and infrastructure agenda, partnerships like this one between BUA and Dangote Cement may prove crucial in turning the Renewed Hope vision into a reality.

Stay tuned to NaijaRush for more updates on this and other stories shaping the future of Nigeria.