Full details of Minister of Works, David Umahi’s meeting with cement manufacturers where they agreed to reduce the price of a bag cement to N7000 👇
Challenges faced by cement manufacturers:
– High cost of gas
– High import duty on spare parts
– Poor road networks
– High foreign exchange rates
– Cement smuggling to neighboring nations.
Federal Government intervention to these challenges:
– The Federal Ministry of Industry, Trade, and Investment will seek remedies from President Tinubu regarding gas costs and import duties.
– The Federal Ministry of Works will prioritize road repairs, especially around manufacturing locations.
– Regarding cement smuggling, the Ministry of Works will intensify engagement with the National Security Adviser, Nuhu Ribadu.
The federal government anticipates a price drop after addressing these challenges and will reconvene in 30 days to review progress of matters discussed.
Minister of Industry, Trade and Investment, Doris Uzoka-Anite, representatives from Dangote Cement PLC, BUA Cement PLC, Larfarge Africa PLC and members of the Cement Producers Association were present at the meeting.
