Cement producers have announced reduction in the price of Cement following a meeting with the Nigerian government on Monday.
The new price has now been fixed for N7,000 and N8,000 per 50kg depending on the location nationwide.
The agreement on the new price was reached on Monday during a meeting initiated by the Minister of Works, David Umahi, and attended by his counterparts from the Ministry of Industry, Trade, and Investment, including Doris Uzoka-Anite in Abuja
Efforts were also made to identify the underlying reasons for the abrupt increase in commodity prices.
The manufacturers present expressed their readiness to willingness to bring down the prices in future as soon as the federal government intervention are fulfilled.
BUA industries said plans are underway to bring 6 million tons of cement into the market to mitigate the surging prices.
DAILY GIST reports that the Nigerian government also announced its plans to encourage the introduction of six new manufacturers.
More details to follow….
