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Government Takes Action on Soaring Cement Prices, Summons Manufacturers

In response to the escalating cost of cement, the Federal Government has called for an urgent meeting with leading manufacturers. Minister of Works, David Umahi, has expressed concern over the alarming rate at which cement prices are surging despite substantial demand from construction sectors.

The meeting, scheduled for Monday, February 19, 2024, at the Federal Ministry of Works in Abuja, aims to address the disparity between ex-factory prices and market rates. Cement giants such as Dangote Plc, BUA Plc, and Larfarge are among those summoned to attend.

Minister Umahi emphasized the need for collaborative efforts to tackle the challenges faced by manufacturers and find sustainable solutions. The current price range of cement, which fluctuates between N6500 to N15000 per bag, underscores the urgency of the situation.

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