(3 Minutes Read)
The Nigerian Government summoned the cement manufacturers to address the surging costs of their products. There has been a massive spike in the price of cement, reaching between N8,000 and N10,000 per bag. This is an increase from the previous price, which was around N4,000 just a few weeks ago. This development has sparked concern within the government, given the huge patronage by road and housing contractors to the cement manufacturers.
The Nigerian Government summoned the cement manufacturers to address the surging costs of their products. There has been a massive spike in the price of cement, reaching between N8,000 and N10,000 per bag. This is an increase from the previous price, which was around N4,000 just a few weeks ago. This development has sparked concern within the government, given the huge patronage by road and housing contractors to the cement manufacturers. Some of the cement manufacturers summoned by the Ministry of Works are Dangote, BUA, and Lafarge.
The Ministry of Works plans to examine and address the huge gap between the ex-factory price and the market price of cement. The meeting, called by the Minister of Works, Dave Umahi, is expected to identify and address the challenges faced by cement manufacturers in the country. The huge gap between the ex-factory price and the market price will also undergo a thorough examination.
Read Also:
https://trendsnafrica.com/lafarge-launches-low-carbon-cement-for-eco-construction-in-nigeria/
https://trendsnafrica.com/nigerian-cement-body-calls-for-focused-program-to-boost-demand/
The Nigerian cement industry is predominantly controlled by three major players: Dangote Cement Plc, BUA Group, and Lafarge Africa Plc, collectively responsible for 99 per cent of the production.
