The Federal Government and Cement Manufacturers during a closed-door meeting today agreed on N7000 to N8000 per 50kg of cement. This meeting was in place to halt the astronomical rise in the price of cement in the country.
The cement manufacturer also agreed on a caveat that the price would drop once the government addresses some of the issues affecting the industry.
Recall that the price of cement jumped from N5000 to N10,000 within one week. This, according to the manufacturer was as a result of increase in the cost of transportation. Other challenges faced by the manufacturers include bad roads, smuggling, high cost of energy and forex crisis.
The meeting was attended by manufacturers at Dangote Cement PLC, Bua Cement PLC, Larfarge Africa PLC and cement Producers Association. Representative of federal government are minister of works and minister of Industry, Trade and Investment.
