Cement manufacturers in Nigeria have agreed to lower the price of their product, aiming for a range between N7,000 and N8,000 for a 50kg bag, depending on the region..…..CONTINUE READING>>>>>>
This decision was announced following a meeting with the Minister of Works, David Umahi, and officials from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite, held in Abuja on Monday.
The meeting was organized by the federal government to address the recent surge in commodity prices, including cement, and find ways to alleviate the burden on consumers.
During the discussions, manufacturers pledged their commitment to reducing prices further once the government fulfills certain interventions to support the industry.
In a significant move, BUA Industries revealed plans to introduce an additional 6 million tons of cement into the market to help stabilize prices.
Furthermore, the government expressed its support for the establishment of six new cement manufacturing companies, as part of efforts to increase competition and supply in the market.
The price of cement had soared to unprecedented levels, reaching as high as N15,000 in major cities and parts of Abuja, prompting concerns about affordability and accessibility.…..CONTINUE READING>>>>>>
