Works Minister, Umahi, summons cement makers amidst soaring prices

In response to the surging cost of cement, Minister of Works David Umahi on Saturday summoned major cement manufacturers for a meeting.

This development raises questions about the factors driving the price increase and potential government interventions.

The price of cement in Nigeria has witnessed a significant jump in recent weeks, rising from around N4,000 per bag to a range of N8,000-N10,000.

This sharp increase has raised concerns among construction companies, individuals, and the public, impacting various projects and budgets.

Orji Uchenna Orji, media aide to the minister, in a statement issued on Saturday said: “Worried by the escalating cost of cement despite huge patronage by road and housing contractors to cement manufacturers, the Honourable Minister of Works, His Excellency Sen Engr Nweze David Umahi CON, has summoned an urgent meeting of all cement manufacturers in Nigeria”.

Read Also: APC becoming unpopular, risks rebellion from ordinary Nigerians, Lukman declares

Orji quoted his principal as saying that the disparity between ex-factory price and market price is huge.

“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,” Umahi was quoted as saying.

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

While the meeting itself is a positive step, further details regarding the government’s specific goals and potential solutions are needed to assess its potential impact on the cement market and the wider Nigerian economy.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now