David Umahi, the Minister of Works, has called for an urgent meeting with cement manufacturers to address the recent surge in the price of cement across the country.
The cost of cement has seen a sharp increase in recent weeks, soaring from approximately N4,000 per bag to a range between N8,000 and N10,000 per bag.
In response to this concerning trend, Umahi has summoned major cement manufacturers, including Dangote, BUA, and Lafarge, to a meeting to discuss the factors contributing to the price hike.
Orji Uchenna Orji, the media aide to the minister, emphasized the urgency of the situation, stating, “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.”
Umahi expressed concern over the significant disparity between the ex-factory price and the market price of cement, stressing the need to address this issue and other related challenges.
“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 stated.
“We therefore need to look into the situation and other issues with a view to finding a common front.”
