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From Isaac Anumihe, Abuja
THE Federal Government, yesterday, commended BUA Cement Plc for crashing the rising price of cement from about N5,500 a bag to N3,500.
Commending the company, the Minister of Housing and Urban Development, Ahmed Musa Dangiwa, said that the proactive gesture will reduce the cost of cement, which is a major cost in housing construction. The action, he said, will support the agenda of President Bola Tinubu to provide affordable housing to Nigerians.
The minister made these remarks in response to BUA Plc’s October 1, 2023 official announcement reducing the price of cement in Nigeria. According to him, the soaring cost of cement has led to a drastic increase in house prices, making them unaffordable for the average Nigerian. The minister added that BUA’s decision represents a substantial stride toward easing the financial burden on aspiring home owners.
Dangiwa emphasised that since assuming office, he has made promoting the delivery of affordable housing a top priority in line with the Renewed Hope Agenda of the president
“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 its understanding of the struggles faced by ordinary Nigerians and it’s a positive step towards making housing more affordable and attainable for all.
“I commend BUA for its socially responsible decision to reduce the price of cement. Accessible and affordable housing is a fundamental right and 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” he said.
Dangiwa encouraged other industry players to emulate BUA’s example, urging them to consider the social impact of their decisions. He expreseed the belief that collaborative efforts between the government and private sector entities are essential in overcoming the challenges related to housing affordability and ensuring the realisation of decent living conditions for every Nigerian citizen.
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