On May 15, President Bola Tinubu, chairman of BUA group Abdul Samad Rabiu, announced on Thursday, May 15 that Bua and Dangote Cement have agreed to freeze cement prices for all contractors engaged in federal government projects under the initiative of New Hope.
They also discussed Bua Foods’ contribution to lowering food prices nationwide after a meeting between Presidents Rabiu and Tinubu in the Presidential Villa of Abuja.
A conversation with reporters after the meeting revealed that the cement price freeze was part of a common agreement with Dangote Cement chairman Alhaji Aliko Dangote to extend cost increase on critical infrastructure projects nationwide.
“We have decided that we will freeze cement prices for any contractors involved in the New Hope project,” Rabiu said. “There will not be an increase in the foreseeable future. This is our contribution to supporting the New Hope initiative of Mr. President.”
