From Our Correspondent
Minister of Housing and Urban Development, Mr Ahmed Dangiwa, has commended BUA Group for lowering the price of its cement to the nation’s construction subsector.
In a statement, on Tuesday, Dangiwa said 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”.
TheNewsZenith reports that the average price of a bag of cement in Nigeria today is N5,200 for retail quantities and ₦3,800 for wholesale quantities in some states.
Dangiwa made the remark in response to the Group’s October 1 announcement by reducing the price of cement to N3,500 per bag from its initial N4000.
“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 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
“It reflects their (BUA) understanding of the struggles faced by ordinary Nigerians. And it is a positive step toward making housing more affordable and attainable by all,” the minister said.
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According to him, the proactive gesture will 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.
“The decision represented a substantial stride toward easing the financial burden on aspiring homeowners,”.
Dangiwa said that since assuming office, he had made delivery of affordable housing as top priority.
This, he added, is 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 homeownership for Nigerians.
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