FG summons Dangote, BUA, others over huge increases in cement prices

The federal government, FG, said on Friday that it could not stand by and let cement prices spiral out of control.

As a result, Works Minister David Umahi has called a meeting with cement manufacturers on Monday to discuss the recent developments.

Dangote Plc, BUA Plc, Larfarge, and other firms are expected to attend the meeting.

Special Adviser to the Minister on Media Uchenna Orji said his principal was “worried by the escalating cost of cement despite huge patronage by road and housing contractors to cement manufacturers.”

The meeting is scheduled for the Federal Ministry of Works, Mabushi-Abuja.

The Minister was quoted as saying that “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.

“We therefore need to look into the situation and other issues with a view to finding a common front.”

The price of cement now ranges between N6500 to N15000 per bag.

 

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