Manufacturers To Drop Cement Price To N7000

Cement manufacturers on Monday, reportedly agreed to bring down the price of the product to between N7,000 and N8,000 per 50kg depending on the location nationwide.

They made the promise during a meeting with the Minister of Works, David Umahi

The meeting was also attended by the Minister of Industry, Trade, and Investment, in Abuja.

According to a report by The Nation, efforts were made during the meeting to identify the underlying reasons for the abrupt increase in commodity prices.

The report noted that manufacturers present also expressed their readiness to willingly bring down the prices in future as soon as the federal government intervention is fulfilled.

Also, BUA Industries was said to have disclosed plans to bring 6 million tons of cement into the market to mitigate the surging prices.

Details shortly…

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