The Real Estate Developers Association of Nigeria (REDAN) has commended BUA Cement for its bold decision to reduce the price of cement from N5,200 to N3,500 in the country.
The management of BUA Cement had on Sunday announced a reduction in the ex-factory price of its cement from N5,500 to N3,500, adding that the new price would commence on Monday.
Reacting to the announcement in a statement, the president of REDAN, Dr. Aliyu Wamakko, yesterday in Abuja described the reduction in cement prices as a unanimously welcomed development, saying it is expected to positively impact the lives of countless Nigerians.
Lamenting that the high cost of cement and other building materials have been a major hindrance in the housing sector, he said REDAN and cement dealers in the country anticipate quick reflection in the market price.
Wamakko stressed the importance of affordable building materials to deliver accessible housing solutions to Nigerians.
He also conveyed his appreciation, specifically highlighting the outstanding efforts of BUA’s chief executive officer, Abdul Samad Rabiu, urging other prominent figures in the building industry to follow BUA’s commendable lead.
He said, “We in REDAN commend Abdul Samad Rabiu for his integrity, tenacity, and fair business practices. For this reason, we call upon other influential stakeholders in the construction sector, producing building materials, to emulate this exemplary initiative.
“We sincerely appreciate and commend BUA for their commitment to this cause, as recently conveyed to President Bola Ahmed Tinubu.”
On the issues of housing deficit in Nigeria, Wamakko noted that various factors, including banditry, floods, and natural disasters, have contributed to the growing shortage of housing in the country.
He emphasised that cement, as a primary building material, plays a pivotal role in the construction sector.
“So, we respect this decision from BUA cement and we welcome this decision because it is going to provide employment to so many Nigerians,” he added.
