ADVERTISEMENT

FG set for crunch meeting with manufacturers over rising price of cement

The Federal Government is concerned that cement prices continue to skyrocket despite the patronage of manufacturers by road and housing contractors.

FG sets for crunch meeting with manufacturers over rising price of cement

The meeting, which was called by the Minister of Works, David Umahi, will take place at the Federal Ministry of Works, Mabushi-Abuja, at 1 pm on Monday, February 19, 2024,

Companies expected at the meeting are Dangote Plc, BUA Plc, Lafarge and other manufacturers.

In a statement on Saturday by the Special Adviser to Umahi on Media, Uchenna Orji, the minister expressed worry over the escalating cost of cement despite huge patronage by road and housing contractors to cement manufacturers.

ADVERTISEMENT

The statement read, “Worried by the escalating cost of cement despite huge patronage by road and housing contractors to cement manufacturers, the Minister of Works, David Umahi, has summoned an urgent meeting of all cement manufacturers in Nigeria."

Orji quoted the minister as saying, “It is common knowledge that the manufacturers have their challenges, which we shall look into, but from our findings, the disparity between the ex-factory price and the market price is wide. We therefore need to look into the situation and other issues to find a common front.

Reports emerged last week that a bag of cement had increased to as much as ₦15,000 in the Federal Capital Territory (FCT) while selling for around ₦10,000 in other parts of the country.

Stakeholders had raised concerns that the upward swing in the price of cement and other building materials would lead to job losses and render more Nigerians homeless.

Responding to the development, the Minister of Housing and Urban Development, Ahmed Dangiwa, called a meeting with cement manufacturers and other building materials on Thursday, February 15, 2024, to find a solution.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Suspected Oodua nation agitators invade Oyo govt secretariat in army uniform

Suspected Oodua nation agitators invade Oyo govt secretariat in army uniform

Nigeria becomes first country to introduce new meningitis vaccine - WHO

Nigeria becomes first country to introduce new meningitis vaccine - WHO

Police, JAMB warn UTME candidates against patronising fake websites

Police, JAMB warn UTME candidates against patronising fake websites

World's oldest Siamese twins have died after 62 years joined at the head

World's oldest Siamese twins have died after 62 years joined at the head

2 dangerous asteroids will pass Earth on Monday, but there's no cause for alarm

2 dangerous asteroids will pass Earth on Monday, but there's no cause for alarm

Father drags 30-year-old son to court to order him to find a job and leave his house

Father drags 30-year-old son to court to order him to find a job and leave his house

Cardoso trends on Twitter as naira gains 7.2% against dollar

Cardoso trends on Twitter as naira gains 7.2% against dollar

Go after Buhari, Malami, others - Sowore slams EFCC over Bobrisky's sentencing

Go after Buhari, Malami, others - Sowore slams EFCC over Bobrisky's sentencing

Tinubu promises Nigerians economic turnaround by December

Tinubu promises Nigerians economic turnaround by December

Pulse Sports

Alex Iwobi makes Premier League history which Mikel, Yakubu, Kanu could not achieve

Alex Iwobi makes Premier League history which Mikel, Yakubu, Kanu could not achieve

Like Michael Jordan - Details of Victor Osimhen’s ‘superhuman’ jump against Monza emerges

Like Michael Jordan - Details of Victor Osimhen’s ‘superhuman’ jump against Monza emerges

ADVERTISEMENT
ADVERTISEMENT