The Federal Government and Cement Manufacturers have reached an agreement over the skyrocketing price of cement.
After several hours of meeting behind closed doors, manufacturers tentatively agreed to sell a 50kg bag of cement at a retail price between N7,000 and N8,000, depending on location nationwide.
The manufacturers however put a caveat that that the price drop from the current market price would largely depend on the fulfilment of certain government interventions to ameliorate critical challenges faced in the industry.
The Minister of Works, David Umahi disclosed this after a meeting with leading manufacturers on Monday in Abuja.