Cement price: FG summons Dangote, BUA, Lafarge

Cement price: FG summons Dangote, BUA, Lafarge

The Federal Government has summoned cement manufacturers to a meeting on Monday over embarrassing rise in the cost of the product.

A 50kg bag of cement selling for less than N5,000 about a month ago is now being sold at N9,000 and above.

The invitation is contained in a statement by the Minister of Works, David Umahi.

Special Adviser to the minister, Edward Uchenna Orji, said Umahi was “worried by the escalating cost of cement despite huge patronage by road and housing contractors to cement manufacturers.

Those invited to the meeting are Dangote Plc, BUA Plc, Larfarge among other manufacturers.

The meeting is scheduled to take place on at the Federal Ministry of Works office, 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.”