Breaking: Cement price to drop as FG parleys manufacturers

Cement manufacturers have agreed to reduce the price of the product to between N7,000 and N8,000 per 50kg depending on the location nationwide.

During a meeting called by David Umahi, Minister of Works, which had people from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite, in Abuja on Monday, efforts were made to identify the underlying reasons for the abrupt increase in commodity prices.

The manufacturers present also expressed their readiness to willingness to bring down the prices in future as soon as the federal government intervention are fulfilled.

BUA Industries also disclosed plans to bring 6 million tons of cement into the market to mitigate the surging prices.

Details later…