FG Calls Out Manufacturers Over Growing Cement Costs
FG summons Dangote, BUA, Lafarge, others over rising cement prices. The Federal Government says that it has called for an urgent meeting with cement manufacturers over the escalating cost of the product in recent times.
The federal government said yesterday that it could not stand by and watch as the cost of cement skyrocketed.
Cement producers have been invited to a meeting on Monday by Minister of Works David Umahi to discuss the matters related to the most recent development.
The manufacturers, including Larfarge, BUA Plc, and Dangote Plc, are anticipated at the meeting. Uchenna Orji, Special Advisor to the Minister on Media, stated that his principal was “worried by the escalating cost of cement despite huge patronage by road and housing contractors to cement manufacturers.” The Federal Ministry of Works, Mabushi-Abuja, is the location of the scheduled meeting.
The Minister was reported to have stated 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 and the market price is wide.” In order to find a united front, we must investigate the current state of affairs as well as other matters.
Cement currently costs between N6500 and N15000 per bag.
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