In a significant show of support for President Bola Tinubu’s economic recovery efforts, BUA Group Chairman Abdul Samad Rabiu announced on Thursday, May 15, that BUA Cement and Dangote Cement have agreed to freeze cement prices for all contractors working on Federal Government projects under the Renewed Hope Initiative.

The announcement came after a meeting between Rabiu and President Tinubu at the Presidential Villa in Abuja, where they also discussed strategies to help reduce food prices nationwide through BUA Foods.

Addressing journalists after the meeting, Rabiu confirmed that the price freeze was part of a collaborative agreement with Alhaji Aliko Dangote, Chairman of Dangote Cement. The goal, he said, is to curb cost escalation on critical infrastructure projects and ensure the success of the administration’s development agenda.

We have decided that we are going to freeze the price of cement for any contractor involved in the Renewed Hope projects,” Rabiu stated. “There will be no increase for the foreseeable future. This is our contribution to support Mr. President’s Renewed Hope Initiative.

The move is expected to ease financial pressure on key national projects and aligns with broader efforts to stimulate economic stability and growth.