BUA Group Chairman Abdul Samad Rabiu has announced a price freeze on cement for contractors involved in the Federal Government’s Renewed Hope infrastructure projects.
Speaking after a meeting with President Bola Tinubu at the Presidential Villa, he said the decision—made jointly with Dangote Cement Chairman Aliko Dangote—is aimed at containing rising construction costs tied to key national projects.
According to the billionaire businessman, the move is part of broader efforts to support the President’s economic recovery agenda.
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Mr Rabiu also noted that food prices, particularly those linked to BUA Foods, have eased compared to last year.
He attributed current cement price pressures to the floating of the naira but expressed optimism that collaborative industry measures could help stabilise the market.
The initiative is expected to cushion the impact of inflation on public infrastructure delivery across Nigeria.
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