\n
Amid the rising price of cement in Nigeria, manufacturers of the product have unveiled plans to crash the price to between N7,000 and N8,000 per 50kg.<\/p>\n
Cement manufacturers disclosed this during a meeting called by David Umahi, Minister of Works, which had people from the Ministry of Industry, Trade, and Investment, including the minister, Doris Uzoka-Anite, in attendance in Abuja on Monday.<\/p>\n
At the meeting, efforts were made to identify the underlying reasons for the abrupt increase in commodity prices.<\/p>\n
Accordingly, manufacturers present also expressed their readiness to bring down prices in future as soon as the federal government intervention is fulfilled.<\/p>\n
BUA Industries also disclosed plans to bring six million tonnes of cement into the market to mitigate the surging prices.<\/p>\n
The Federal Government has also declared its intention to encourage the introduction of six new manufacturers.<\/p>\n
The development comes as the price of cement skyrocketed to above N10,000 per 50kg in the Federal Capital Territory.<\/p>\n
Earlier, the chairman of the Cement Producers\u2019 Association of Nigeria, CEPAN, Prince David Iweta, explained that the demand for cement outweighed its supply as the reason for the rising price.<\/p>\n
Manufacturers unveil plan to crash price of cement in Nigeria<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
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