The federal government said it has reached an agreement with cement manufacturers to cut down on the prices of the products
Recall that cement price has been oscillating between N8,000 and N10,000 per bag from about N4,000 a few weeks ago prompting the Minister of Works, David Umahi to call manufacturers to a meeting.
Revealing the outcome of their talks to newsmen on Monday, the minister said that the manufacturers blamed the high cost on bad roads, high energy costs, and Forex crisis.
“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,” the former Ebonyi governor said.
