Manufacturers stipulate terms to reduce soaring cement costs

Cement manufacturers have come to an agreement to offer a 50kg bag of cement at retail prices ranging from N7,000 to N8,000 nationwide. This development is subject to specific government interventions aimed at addressing crucial challenges within the industry.

Minister of Works, Dave Umahi, revealed this decision after a meeting with key cement producers held on Monday in Abuja. The implementation of this agreement is expected to take effect within 30 days, benefitting Nigerians.

The meeting was prompted by the significant increase in cement prices, soaring to around N13,000 in various retail outlets across the Federal Capital Territory and Enugu. This escalation highlights the impact of inflation within the country.