Dangote, BUA give conditions for 50kg Cement to sell at N8, 000

Joseph Irikefe

Cement Manufacturers have said that  a 50kg bag of cement, can only sell  at a retail price of between N7,000 and N8,000, in future , depending on location in  Nigeria.

The manufacturers, namely  Dangote Plc, BUA Plc and Lafarge Plc who stated this, during a meeting with  the Minister of Works, David Umahi in Abuja, on Monday , however  disclosed that the price reduction would only be possible if government intervenes,  to find solutions to the  challenges  they  face in the industry.

The Minister had called for the meeting in the instance of President Bola Tinubu, sequel to the persistent rise in the    price of the commodity, even up to N15, 000 per 50kg bag in several in some parts of the country.

He   however ,revealed  after the meeting with the cement manufacturers , that  certain issues including smuggling, bad roads, high energy costs, and the Forex crisis, contributed  to  the high price , but said  that the  manufacturers have expressed their willingness  to reduce the  price of the  commodity  in the future.

Umahi noted that the manufacturers were of the view that the   present high cost of cement in the market is very much abnormal in some locations nationwide, but pointed out that they agreed that the retail price to a consumer should not cost more than between N7, 000 to N8, 000 per 50kg bag of cement.

The Minister informed that the government and the manufacturers have agreed that the price of a 50kg bag of cement should sell for not more than between N7000 to N8, 000, adding that government, however advised the manufacturers, to set up a price monitoring mechanism, to ensure compliance with the agreed price at the meeting.