Cement Dilemma in Nigeria: Cement Manufacturers Face Government Scrutiny
The Nigerian government has summoned all cement manufacturers in the country for a meeting with the Minister of Works, David Umahi, to address the escalating retail prices of the product in the market.
The statement from the Special Adviser to the Minister, Edward Uchenna Orji, on Saturday, highlighted concerns over the recent 30% increase in the costs of cement reported by SaharaReporters.
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Despite being one of the continent’s largest cement producers, Nigeria continues to experience rising prices, exacerbated by high inflation in the building materials market this year.
In Kubwa, the Federal Capital Territory, a 50-kilogram bag of Dangote cement now ranges between N8,600 and N9,600, while BUA is priced between N8,500 and N9,500. The statement revealed that some manufacturers had elevated their depot prices, contributing to the overall price surge.
The Minister expressed worry about the escalating costs, particularly given the substantial patronage by road and housing contractors. The urgent meeting, scheduled at the Federal Ministry of Works in Abuja, will include key industry players such as Dangote Plc, BUA Plc, Larfarge, and other manufacturers.
“It is common knowledge that the cement 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,” stated the minister.
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The objective of the meeting is to examine the situation and address pertinent issues to find a common ground.
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