Conditions Are Set By Dangote, BUA, And Others To Lower Nigerian Cement Prices

The requirements that the Nigerian government must fulfill, according to cement manufacturers, are what must happen before the retail cost of a 50 kg bag of cement drops to between N7,000 and N8,000.

The Works Minister, David Umahi, made this revelation on Monday in Abuja during a meeting with prominent manufacturers.

In response to widespread rumors that the product was being marketed for N15,000 per bag in some areas of Abuja and Enugu, representatives of the government and the nation’s leading cement manufacturers met.

The manufacturers asserted that government intervention to address some of the issues faced by industry operators would be necessary for a price reduction from the existing market price.

The government has been informed by the cement maker that certain areas of the country are experiencing extremely unusually high cement prices at the moment.

The ideal price range for cement, according to them, should be between N7,000 and N8,000 for a 50 kg bag purchased at retail.

Thus, the nationwide cement pricing range of N7,000 to N8,000 naira per 50 kg box of cement, contingent on the area, has been agreed upon by the government and the cement makers, namely Dangote Plc, BUA Plc, and Lafarge Plc.

In order to guarantee adherence to the prices set today, the government recommended moving ahead for manufacturers to establish a price monitoring system

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