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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.

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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.

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