Breaking: Manufacturer to release 6m tons of Cement, assures price ‘ll crash to N7000

…As FG plans to introduce six new manufacturers

By Ezurike Ugochukwu

Following the  ent outcry of Nigerians over the sudden increase in the price of cement in the country, Cement manufacturers have agreed to bring down the price of the product to between N7,000 and N8,000 per 50kg depending on the location nationwide.

Further to that, BUA Industries one of the manufacturing companies has also disclosed it’s plans to bring 6 million tons of cement into the market to mitigate the exorbitant prices.

Umahi

These were resolutions arrived at the meeting initiated by the Minister of Works, David Umahi, and attended by his counterparts from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite, in Abuja on Monday, February 19.

At the meeting, efforts were made to identify the underlying reasons for the abrupt increase in cement prices.

The manufacturers present also expressed their readiness, and willingness to bring down the prices in future as soon as the federal government intervention are fulfilled.
The federal government has also declared its intention to encourage the introduction of six new manufacturers.