FG summons Dangote, BUA, Lafarge over rising cost of cement

The Minister of Works, David Umahi, has summoned prominent cement manufacturers to a meeting over the rising cost of cement.

He expressed worry that, despite huge patronage by road and housing contractors to cement manufacturers, the cost of the product was rising at an astronomical rate.

A statement signed by the Minister’s Special Adviser (Media), Orji Uchenna Orji, in Abuja on Saturday said the meeting will take place on Monday, February 19, 2024, at the Ministry’s Conference Hall, Mabushi, Abuja.

The statement read in part, “The Honourable Minister of Works, His Excellency, David Umahi CON, has summoned an urgent meeting of all cement manufacturers in Nigeria.

“Those invited are Dangote Plc, BUA Plc, Larfarge, and others.”

He quoted the Minister as saying, “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. 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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