Minister of Housing and Urban Development, Ahmed Dangiwa, has applauded BUA Cement’s decision to reduce the price of cement from about N5,500 to N3500.

According to Dangiwa, the price reduction is a major boost in housing, as well as support for the Renewed Hope Agenda of President Bola Tinubu to provide affordable housing to Nigerians.

The minister made these remarks, yesterday, in response to BUA’s announcement reducing the price of cement in the country.

He stated that the soaring cost of cement led to a drastic increase in housing budget, making them unaffordable for the average Nigerian, adding that BUA’s decision represented a giant stride towards easing the financial burden on aspiring homeowners.

Dangiwa emphasised that since assuming office, promoting affordable housing had been among his top priority, in line with the Renewed Hope Agenda.

“The escalating prices of building materials, especially cement, 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 is a positive step towards making housing more affordable and attainable for all.”

“We commend BUA for its socially responsible decision to reduce the price of cement. Accessible and affordable housing is a fundamental right, and this move by BUA 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,” said.

BUA’s initiative, the minister asserted, 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.

Accordingly, Dangiwa encouraged other industry players to emulate BUA, urging them to consider the social impact of their decisions.

The minister, therefore, expressed his belief that collaboration between the government and private sector entities is essential in overcoming the challenges related to housing affordability and ensuring the realisation of decent living conditions for every Nigerian.