NEWS AGENCY OF NIGERIA Economy/Business Cement price reduction: BUA’s action demonstrates commitment to improving lives – Minister

Cement price reduction: BUA’s action demonstrates commitment to improving lives – Minister

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By Perpetua Onuegbu
Minister of Housing and Urban Development, Mr Ahmed Dangiwa, says BUA Plc’s decision to reduce price of cement to N3,500 per bag is a demonstration of the company’s commitment to improving lives.

This is contained in a statement issued on Tuesday on Abuja by Deputy Director of Information in the ministry, Mr Salisu Badamasi.

Badamosi said that Dangiwa made the remark in response to the announcement made on Oct. 1 by the firm reducing the price of cement to N3,500 per bag.

“I commend BUA Cement Plc. for its socially-responsible decision to reduce the price of cement.

“Accessible and affordable housing is a fundamental right.

“This move by BUA Cement Plc. will undoubtedly alleviate the challenges faced by our citizens.

“It demonstrates a shared commitment to improving the lives of our people and furthering the goals of sustainable urban development,” he said.

Dangiwa said that the proactive gesture would reduce the cost of cement, which was a major component of housing construction.

He also said that the firm’s action was in support of the Renewed Hope Agenda of President Bola Tinubu to provide affordable housing to Nigerians.

According to him, the soaring cost of cement has led to a drastic increase in cost of building houses, thus making them unaffordable for the average Nigerian.

Dangiwa further stated that the decision represented a substantial stride toward easing the financial burden on aspiring home owners.

He said that since assuming office, he had made delivery of affordable housing as a top priority, in line with the renewed hope agenda of the present administration.

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“The escalating prices of building materials, especially cement, have placed a daunting obstacle on the path to home ownership for many Nigerians.

“BUA Cement Plc.’s decision to reduce the price of cement to N3,500 is highly commendable.

“ It reflects their understanding of the struggles faced by ordinary Nigerians and it is a positive step toward making housing more affordable and attainable by all,” he said.

The minister said that the initiative would benefit individual home owners, stimulate economic growth, create jobs and lift many Nigerians out of poverty by fostering affordable housing construction and infrastructure development.

He urged other industry players to emulate the BUA example, saying that they should consider the social impact of their decisions.

The minister said collaborative efforts between the government and private sector entities was essential in overcoming the challenges of housing affordability and ensuring the realisation of decent living conditions for every citizen. (NAN) (www.nanews.ng)

Edited by ‘Wale Sadeeq

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