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Manufacturers give conditions to lower cement price from N15000 to N8000
Cement manufacturers have agreed to reduce the price of cements from N10,000 to between N7,000 and N8,000 per 50kg provided some conditions are met by the Federal Government.
The decision was reached at a meeting convened by the Minister of Works, Engineer David Umahi.
Umahi had invited cement manufacturers to a meeting in Abuja after the recent increase in price to about N15,000 in some places.
The meeting was also attended by Doris Uzoka-Anite, Minister of Industry, Trade and Investment.
READ ALSO: Give import licences to some manufacturers to address rising price of cement – CEPAN
Speaking after the meeting, Umahi said manufacturers listed bad roads, high energy costs, Forex crisis as some of the factors responsible for the hike.
“The cement manufacturer has noted to the government that the present high cost of cement in the market is very much abnormal in some locations nationwide. Ideally, they noted that cement price, and retail price to a consumer should not cost more than between N7,000 to N8,000 per 50 kg bag of cement.
“Therefore, the government and the cement manufacturers, which are Dangote Plc, BUA Plc and Lafarge Plc have agreed to have their cement price nationwide between N7,000 to N8,000 naira per 50 kg pack of cement, depending on the locations, which means that this price depends on the locations,” he said.
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