The Minister of Works, David Umahi, has called for an urgent meeting with major cement manufacturers in Nigeria to address the alarming increase in the cost of the product. The meeting, scheduled for Monday, February 19, 2024, will be held at the Ministry’s Conference Hall in Mabushi, Abuja.
Expressing concern over the rising prices despite substantial patronage from road and housing contractors, Minister Umahi emphasized the need to address the disparity between the ex-factory price and the market price of cement. The manufacturers summoned include Dangote Plc, BUA Plc, Lafarge, and others.
In a statement released by his Special Adviser on Media, Orji Uchenna Orji, the minister acknowledged the challenges faced by cement manufacturers but stressed the importance of finding a common ground to resolve the issue. He stated, “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 meeting is expected to delve into the reasons behind the sharp increase in cement prices and explore possible solutions to stabilize the market. The outcome of the meeting could have far-reaching implications for the construction industry and infrastructure development in Nigeria.
Daily Nigerian