FG, Cement manufacturers strike deal over cement price

Middle, the Hon. Minister of Works Engr. Nweze David Umahi, 4th right, his colleague Hon. Minister of Trade and Investment Dr. Doris Uzoka-Anite 3rd right, the representative of Dangote group of company 4th left group executive director BUA, and others during a meeting with the Hon Minister of Works in his office at Mabushi Abuja. Date: 19th February, 2024.

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.

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