Manufacturers To Drop Cement Price To N7,000

Cement manufacturers on Monday, reportedly agreed to bring down the price of the product to between N7,000 and N8,000 per 50kg.

Cement producers have decided to lower the product's price to between N7,000 and N8,000 per 50 kg, depending on the region of the country.

On Monday, February 19, in Abuja, a meeting chaired by Minister of Works David Umahi and attended by his colleagues from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite, aimed to determine the fundamental causes of the sudden surge in commodity prices.

The present manufacturers also indicated that they would be willing to lower prices in the future as soon as the federal government's intervention was completed.

Also, the federal government has stated that it plans to support the entry of six new manufacturers.