What we’ll do over rising cement prices – FG

The Federal Government is set to convene a meeting with key cement manufacturers, including Dangote, BUA, and Lafarge, to address the surging cost of cement.

Minister of Works, David Umahi, expressed concern over the significant price increase, which has jumped from N4,000 to a range of N8,000 to N10,000 per bag in recent weeks.

Umahi emphasized the need to investigate the substantial gap between ex-factory and market prices and explore solutions to address the challenges faced by cement manufacturers.

Orji Uchenna Orji, media aide to the minister, said: “Worried by the escalating cost of cement despite huge patronage by road and housing contractors to cement manufacturers, the Honourable Minister of Works, His Excellency Sen Engr Nweze David Umahi CON, has summoned an urgent meeting of all cement manufacturers in Nigeria”.

Orji quoted his principal as saying that the disparity between ex-factory price and market price is huge.

“It is common knowledge that the manufacturers have their challenges, which we shall look into, but from our findings, the disparity between ex-factory price and the market price is wide,” Umahi was quoted as saying.

“We therefore need to look into the situation and other issues with a view to finding a common front.”