FG to meet Dangote, BUA over rising cost of cement

February 17, 2024 9:11 am

The federal government says it can open the borders for mass importation of cement if manufacturers of the product fail to bring down the cost of the product.

David Umahi, minister of works, has called for a meeting with cement manufacturers over the rising cost of the product.

The price of cement has been oscillating between N8,000 and N10,000 per bag from about N4,000 a few weeks ago.

Dangote, BUA, and Lafarge are some of the cement manufacturers summoned by the works ministry.

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.”