News
FG summons manufacturers over rising cost of cement
The Federal government declared yesterday that it could not fold its arms & allow the price of cement spiral out of control.
Consequently, the Minister of Works, David Umahi has summoned cement manufacturers to a meeting on Monday to examine the issues surrounding the latest development.
Expected at the meeting are Dangote Plc, BUA Plc, Larfarge and the other manufacturers.
Special Adviser to the Minister on Media Uchenna Orji said his principal was “worried by the escalating cost of cement despite huge patronage by road & housing contractors to cement manufacturers.”
The Minister was quoted as saying that “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 & the market price is wide.
“We therefore need to look into the situation and other issues with a view to finding a common front.” The price of cement now ranges between N6500 to N15000 per bag.
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