FG Calls For Dangote, BUA, And Larfarge Companies To Clarify The High Cost Of Cement.

In response to the rising retail price of cement, the Nigerian government has called a meeting with David Umahi, the minister of works, and all of the nation’s cement producers.

The Special Advisor to the Minister, Edward Uchenna Orji, revealed this in a statement on Saturday.

According to a report released on Friday, wholesalers nationwide have lately imposed new price increases on cement and related items, resulting in a 30% increase in the cost of cement.

Nigeria is one of the continent’s top manufacturers of cement, but the cost of cement is still rising, particularly this year due to the high inflation that has affected the market for building supplies.

A 50 kilogram bag of Dangote cement has increased in price in Kubwa, Bwari, Federal Capital Territory, to between N8,600 and N9,600, whereas BUA sells the same cement for between N8500 and N9500.

“BUA charges N9500 per bag, but Dangote costs N9600,” a vendor at Kubwa Phase 4 informed SaharaReporters on Friday.
The store lamented that, in the wake of the general increase in costs, certain manufacturers had raised their depot prices to an all-time high.

According to the statement, the minister expressed concern over the rising cost of cement, even though cement makers receive significant patronage from road and building construction.

The meeting will hold at the Federal Ministry of Works in Mabushi, Abuja. According to the minister, “It is common knowledge that the manufacturers have their challenges, which we shall look into, but from our findings, the disparity between ex-factory price and the market price is wide.”

The manufacturers, BUA Plc, Larfarge, and Dangote Plc are among those called to the urgent meeting.