JUST-IN: Cement prize crashes to N7000 after FG’s meeting with manufacturers

Cement dealers have agreed to reduce the price of the product to between N7,000 and N8,000 per 50kg, depending on region nationally.

On Monday, February 19, the Minister of Works, David Umahi, convened a meeting in Abuja with his counterparts from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite, to identify the underlying causes of the sudden increase in commodity prices.

The manufacturers present also emphasized their willingness to lower prices in the future if the federal government’s assistance is met.

BUA Industries recently announced intentions to put 6 million tons of cement into the market to offset rising prices.

The federal government has also announced plans to facilitate the introduction of six new firms.

Details shortly…