BREAKING: Cement price crashes to N7000 per bag

Cement manufacturers have agreed to reduce the product’s price to between N7,000 and N8,000 per 50kg, depending on the location in question.

On Monday, February 19, Minister of Works David Umahi organized a meeting in Abuja with his colleagues from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite, to determine the root causes of the abrupt surge in commodities prices.

The manufacturers present also expressed their willingness to lower prices in the future as long as the federal government’s intervention is pleased.

BUA Industries recently announced intentions to put 6 million tons of cement into the market to offset rising prices.

The federal government has also proclaimed its desire to promote the introduction of six new firms.

More details to follow…

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