Minister of Housing and Urban Development, Mr. Ahmed Dangiwa, says BUA Plc’s decision to reduce the 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 in Abuja by the Deputy Director of Information in the Ministry, Mr. Salisu Badamasi.
Badamosi said that Dangiwa made the remark in response to the announcement made on October 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 is 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 the cost of building houses, thus making them unaffordable for the average Nigerian.
Dangiwa further stated that the decision represented a substantial stride towards easing the financial burden on aspiring homeowners.
He said that since assuming office, he has made the delivery of affordable housing a top priority, in line with the renewed hope agenda of the present administration.
“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 towards making housing more affordable and attainable for all,” he said.
The minister said that the initiative would benefit individual homeowners, 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 were essential in overcoming the challenges of housing affordability and ensuring the realisation of decent living conditions for every citizen.