The Minister of Housing and Urban Development, Architect Ahmed Musa Dangiwa has commended the decision by BUA Cement Plc to reduce the price of cement to N3,500 from about N5,500.
According to the minister, the gesture will reduce the cost of cement, which is a major cost in building construction.
A statement by Deputy Director, Information, Federal Ministry of Housing and Urban Development, Salisu Haiba Badamasi Tuesday in Abuja, quoted Dangiwa as saying that BUA Cement Plc’s decision represents a substantial stride toward easing the financial burden on aspiring homeowners.
He underscored that the soaring cost of cement has led to a drastic increase in house prices, making them unaffordable for the average Nigerian.
Dangiwa emphasized that since assuming office, he has made promoting the delivery of affordable housing a top priority in line with the Renewed Hope Agenda of Mr. President
“The escalating prices of building materials, especially cement, have placed a daunting obstacle on the path to homeownership 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 is a positive step towards making housing more affordable and attainable for all,” he noted.
“I commend BUA Cement Plc for their socially responsible decision to reduce the price of cement. Accessible and affordable housing is a fundamental right, and 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”
The Minister added that the company’s initiative will not only benefit individual homeowners but will also stimulate economic growth, create jobs, and lift many Nigerians out of poverty by fostering affordable housing construction and infrastructure development.
The minister urged other industry players to emulate BUA Cement’s example, urging them to consider the social impact of their decisions.
He expressed 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 realization of decent living conditions for every Nigerian citizen.
