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JUST IN: Manufacturers agree to crash cement price to N7000

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Following the outcry that greeted the skyrocketing price of cement across the nation, manufacturers have agreed to crash the price of the product to between N7,000 and N8,000 per 50kg depending on the location nationwide.

During a meeting called by David Umahi, Minister of Works and attended by his counterparts from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite, in Abuja on Monday, February 19, efforts were made to identify the underlying reasons for the sudden increase in commodity prices.

Also, the manufacturers present expressed their readiness to bring down the prices in future as soon as the federal government intervention are fulfilled.

BUA Industries also disclosed plans to bring 6 million tons of cement into the market to mitigate the surging prices.

The federal government has also declared its intention to encourage the introduction of six new manufacturers.

 

 

 

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