The Minister of Housing and Urban Development, Ahmed Dangiwa, has encouraged players in the cement industry to emulate BUA Plc’s recent decision to reduce the price of its cement products to N3, 500 from N5,500.
Applauding the announcement by BUA Cement Plc on Tuesday, a statement signed by the Deputy Director Information, Salisu Badamasi, titled, “Housing Minister Commends Bua Cement Plc’s Decision To Reduce Cement Price To N3,500”, said the proactive gesture will reduce the cost of cement, which is a major cost in housing construction.
The minister stressing the need for collaborative efforts between the government and private sector entities in overcoming the challenges related to housing affordability, urged other companies to consider the social impact of their decisions.
He underscored that the soaring cost of cement has led to a drastic increase in house prices, making them unaffordable for the average Nigerian, adding that that BUA Cement Plc’s decision represents a substantial stride toward easing the financial burden on aspiring home owners.
The statement read, “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 their understanding of the struggles faced by ordinary Nigerians and is a positive step towards making housing more affordable and attainable for all.”
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